The Ibex, rebounds slightly after two unfortunate days

After two days of falls after PSOE and Podemos announced their coalition government, the Ibex rises slightly this Thursday (+ 0.15%). The selective ended up losing the key support of 9,200 points at the end of yesterday and which it managed to recover with these increases. Now, although there could be specific rebounds, it would be normal to see the index heading towards the next support, which does not appear until 8,850 points. The picture is complicated and thus it is quite difficult to climb. Every day that passes, new political news is known that contributes to generating more uncertainty in Spain. This does not help trust and investors are clearly looking for safer destinations for their money.

IBEX 35

11.154,600
1,56%

Beyond what happens here, what happens on the other side of the Atlantic is also closely followed. The news about China and the United States have given way to those related to the 'impeachment' of Donald Trump. Public sessions began on Wednesday and two former diplomats accused the president of the United States of creating a parallel diplomacy to be re-elected. Thus, they declared on how the president of the United States tried to influence Ukraine so that the country announced the opening of an investigation against the activities of the son of his Democratic rival, John Biden.

Trump has said he didn't have time to follow the appearances and continues to call the process a circus. We will have to see how this ends up affecting the opinion that Americans have of him, although there are many analysts who believe that the process of political trial will not prosper and that it will not penalize him in the face of next year's elections.

And also on the other side of the Atlantic, the president of the Federal Reserve (FEd), Jerome Powell, spoke to the US Congress yesterday, where he again expressed great concern about the high public deficit of the United States. "The federal budget is on an unsustainable path, with a high and growing debt," he said. It is not the first time that Powell launches this message that, on the other hand, did not seem to interest the congressmen who were listening to him and who asked about other matters.

Returning to Europe, today investors have several relevant macro references, especially the GDP of the Euro Zone which grows 0.2% in the third quarter. In addition, in Spain the CPI remained at 0.1% in October. In Germany, the country is on the verge of recession after growing 0.1% in the third quarter compared to the expected -0.1%. In Asia, Japan's GDP in the third quarter recorded an increase of 0.1% quarterly versus the expected + 0.2% and the previous + 0.3%.

BANKS AND MORE ...

The banks and Ence are again among the values that do worse within the Ibex this Thursday. They have clearly been the most punished titles of the last days by political pressure and today ratify this bad streak. In addition, ArcelorMittal (-2%) is also falling forward.

On the positive side, Siemens Gamesa, Melia Hotels or Cie Automotive stand out prominently.