The Ibex has risen 0.36% to 8,850 points. The selective opened the session with gains, but soon after it entered negative territory, until an hour before closing where it has managed to turn around. This day of volatility comes due to the vote expected this afternoon in the British parliament over Theresa May's Brexit deal.
- 11.154,600
- 1,56%
'D-Day' for the United Kingdom and for all of Europe is finally here. The British Parliament votes (from eight to nine, Spanish time) Theresa May's plan for the Brexit. The analysts are clear: the market has predicted a 'no' from Parliament and what will affect the markets is "the magnitude" of the defeat of May. We will see how Wall Street reacts today and how the European stock markets wake up tomorrow.
Experts say that a "close" defeat means that May may be able to overcome a second vote. However, a great defeat means that we are "in unexplored territory and it can not be ruled out that Theresa May resigns".
The rest of Europe has experienced a session very similar to that of the Spanish stock market, with rises at the beginning of the session, which have turned to losses and have finally returned the gains. For its part, Wall Street has also listed in green at the close of the Spanish market, while Asia has ended the session with significant increases above 1%.
"Asian markets rebound today after the declines of last session due to poor data from China, and today's rebound is prompted by Beijing's promise to take more support measures to stabilize the Chinese economic slowdown." said Jasper Lawler.
ATENTOS A IAG, SANTANDER, SABADELL, FERROVIAL ...
What happens with Brexit will have a direct impact on those values most exposed to the United Kingdom. In the Spanish market, IAG, Santander, Sabadell and Ferrovial stand out.
IAG (-1.85%) has been in the news because a Brexit without agreement could change the current conditions in which it operates in the European Union (EU). Santander experienced on Monday a day of falls and today it rose 0.40%.
Regarding Sabadell (0.15%), the analysts of 'Bolsamanía' remind you that it is only 10% of its historical lows. "As long as the securities of the financial institution do not jump above the resistance at 1.33 euros, we will not have anything, everything will continue exactly the same," they say.
COMPANIES AND OTHER MARKETS
Within the business scope, DIA (0.68%) and BBVA (0.02%) are the main news. HSBC has upgraded its rating on the first to 'hold', pending "its restructuring". In the case of the bank, it has been cut to 'hold' from 'buy'.
For its part, JP Morgan has reduced its estimate of the profit per share that Bankia will obtain (-0.62%) at the end of the 2018 financial year. The firm also expects the bank to announce a net interest income objective in its next presentation of results by 2020 that is "more realistic" than the one that appears in its strategic plan.
In addition, the rise of 6.79% of Ence is also news since it is the most bullish company of the Ibex, ahead of Amadeus and Naturgy, which have added 3.48% and 1.67%, respectively. On the loss side, Mediaset has been the most punished value, yielding 2.77%, followed by Siemens Gamesa (-1.66%).
In the raw material market, the barrel of Brent crude, a benchmark in Europe, is at 1.66% to the close of the Spanish market and struggles to recover the 60 dollars it had lost yesterday. In the currency market, the euro falls to $ 1,1394.
TECHNICAL ANALYSIS
"Interesting session this Tuesday despite not closing with large movements, and this is so, because as you can see in the daily chart the lows of the session have come quite close to the support area we have at the base of the narrow lateral of the last days ", highlights José María Rodríguez, analyst of Bolsamanía.
"In fact, what we have is a small side with support area at 8,750 points and resistance at 8,900 points, waiting for the price to fall on one side or the other at technical prices to feel that we can be shaping a small formation of bullish continuity in the form of a flag, "he adds.
"So, in theory, we could bet on an early movement towards the important zone of resistance that we have in the area of 9,150 points (downward guidance) -9,265 points (November and December highs)," the analyst concludes.
