• BBVA regressed after gaining 7% this week
  • The Italian parliament approves banking bailout deal
Ibex_Inversores

The Ibex 35 was not able to maintain its winning streak on Thursday and finished 0.31% lower at 9,554.7 points. The index had three consecutive positive sessions this week, bringing it to the brink of 9,600.

IBEX 35

  • 11.100,800
  • -0,48%

BBVA was the second worst performer on Thursday after pushing the Ibex higher in the previous two sessions. The entity fell 1.65% and is now situated at 6.3 euros. It was also in the news for selling 1.7% of the Chinese bank CNCB for 554 million euros.

DIA picked up the wooden spoon for the day after falling 1.82% to 4.9 euros. Banco Popular accompanied them in the lower part of the table with a fall of 1.53% to 0.83 euros. Emilio Saracho arrives on Monday to lead the bank as President.

With falls of more than 1% ArcelorMittal also had a bad day, as did Banco Santander. Of the five heavyweights of the index only Telefonica was able to register gains.

On the gains side, Enagas was the best performer after a rise of 1.34% to 23.4 euros. It was followed by Endesa which rose 0.88%, as did Red Electrica. Iberdrola gained 0.26% to 6.06 euros after Citi bet on a dividend increase of 14%. Bankia also closed higher, +0.31%, to 0.95 euros.

OTHER MARKETS

The session was marked by losses across the board, except for in Italy. The Ftse MiB in Milan closed with light advances of 0.16%, after the Parliament approved a bailout of the country's banks worth 20 billion euros. However, the Cac 40 closed with a fall of 0.52%, the Dax 30 in Germany by 0.31% and the Ftse 100 by 0.34%.

European Central Bank meeting minutes were published on Thursday relating to its monetary policy. The organisation insisted that stimulus was necessary. The dollar fell back from monthly highs. The euro rose against the greenback by 0.64% to $1.07.

Wall Street broke its record streak with moderate losses, after its three main indices closed with their fifth consecutive historic high.

TECHNICAL ANALYSIS

"Despite the falls of Thursday the technical perspective keeps inviting optimism," said José María Rodríguez, Bolsamanía technical analyst. In fact it has simply refilled its higher gap of last Wednesday's session in the time that it registered annual highs. The highs of Wednesday were marked at 9,612 and Thursday's at 9,614 points. From what can be deduced there is a control zone of between 9,600 and 9,620 points.

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