• BBVA trades with falls after rising 7% in the first three sessions of the week
  • This Thursday the minutes of the last meeting of the ECB are published
Ibex_Inversores

The Ibex 35 starts today with slight rises, enough to surpass the 9,600 points and approach the 9,623 points, the highest level that has come to touch the selective since the end of 2015. The index, that chains its fourth day to the rise, finds Support in securities outside the financial sector. The European stock exchanges are starting to trade in green, although practically flat.

IBEX 35

  • 11.339,500
  • 0,10%

Banking, which has a 40% weight in the Ibex, allowed the index to close yesterday near the 9,600 points, a level that has not surpassed the closing since December of 2015 - it has done so in intraday. Banks have started trading on slight declines, although they have quickly erased or reduced their losses. However, other values pull the index.

Among the entities that still move in negative is Banco Popular. Next Monday Emilio Saracho will take the reins when being elected president in the meeting of shareholders. Yesterday, after the closing, Fitch announced the downgrade of the rating, which is already in 'junk bond', from 'BB-' to 'B +', which is a value to watch on Thursday. BBVA, meanwhile, which had soared 7% between Monday and Wednesday, is practically flat.

On the other hand, the results season gives a respite Thursday to the Ibex, as happened yesterday. Cellnex's turn tomorrow, although the 'strong plates' will arrive next week with big companies such as Telefonica, Iberdrola, Repsol or IAG, which leads today the profits of the index when registering more than 2%. Airlines are boosted by better-than-expected Air France-KLM results, which multiplied by more than six times their profit in 2016, thanks largely to lower fuel costs.

On the negative side of the Ibex, metallurgists stand out, with falls close to 1% for ArcelorMittal and more than half a percentage point for Acerinox. It also moves with setbacks in this line Gamesa.

In the middle of the earnings season, another key to the session will be in Frankfurt, where at 13:30 hours the European Central Bank (ECB) will publish the minutes of the last monetary policy meeting.

contador