Europe extends the increases of last day on Wednesday. The Ibex has added 0.66% on Wednesday and looks at 9,600 points (9,546 points) thanks to the push from Santander, which has advanced 4.41% after publishing results, and that of BBVA (which has risen 1 , 46% infected by the Cantabrian entity). Investors are still very aware of the health crisis due to the Chinese coronavirus. There are already 132 dead and the situation, at the moment, seems not to improve.
- 10.854,400
- -2,22%
Santander has obtained an attributed profit of 6.5bn euros in 2019, 17% less than in 2018, after registering a net balance of capital gains and sanitation of -1.7bn euros. Sanitation has to do mainly with the adjustment of the goodwill of the United Kingdom announced last September (-1.5bn euros), as well as with restructuring costs in several markets and other provisions. These adjustments were offset by the net capital gain of 693 million euros obtained by the operation carried out with the custody business, closed in December 2019, and other capital gains. In the fourth quarter, the net profit rose 35%, to 2.7bn, the highest profit attributed to the bank's history and above expectations.
This Wednesday we will know the conclusions of the first meeting of the Federal Reserve (Fed) this year. "We do not expect any change in the main monetary policy parameters of the institution. Thus, the official short-term interest rates will remain in the range of 1.50% to 1.75%, interval in which , in principle, and if there are no major changes in the macro scenario, they should be maintained throughout 2020, "Link Securities experts say in their daily report.
As for other important issues of the day, here in Spain the president of the Generalitat, Quim Torra, has announced that he will call elections in Catalonia once the budget has been approved and after meeting with Pedro Sánchez. The political situation in Spain continues to be very active, with everything that happens in Catalonia in the main focus. At the moment, however, the Ibex is not affected at all by this circumstance.
TECHNICAL ANALYSIS
"The Ibex recovers between this Tuesday and today everything that IT fell on Monday (-2%), but the most important thing is missing: closing the daily bearish gap (it may end up being weekly) of 9,562 points. Which means that to cancel / close the bearish gap with which we started the week, the ideal thing to do is to do it at the closing price on Friday for the weekly closing, "explains José María Rodríguez, technical analyst at Bolsamania.
"The danger would come from the possibility that, after filling the hole in its entirety it would turn downwards. On the other hand, the stochastic moment oscillator is clearly oversold and seems to want to cross up," he qualifies.
"In addition to the fact that the minimums of this Tuesday correspond to the base of the bullish channel of the last months, by definition, support. In short, the strong rises of the last two sessions neutralize in some way the bad vibes that our selective left us after the collapse of Monday, but as long as the gap is not closed (in the weekly period) we cannot say we are out of the woods ", concludes the expert.
