- The energy sector leads the falls once again in the Spanish index
- Siemens Gamesa goes up with force after the publishing of its results
Red numbers in the worldwide stocks this Tuesday. The Ibex 35 goes down a 1.21% down to 10,428 points, and it distances itself once more from the 10,600 points. In the rest of Europe and Wall Street the cuts are similar. The investors have decided to sell globally and are collecting important earnings that were accumulated in the month of January.
- 11.071,300
- -0,75%
Looking to the companies, the energy sector has been the biggest faller this session with Enegás (-3.75%) and Gas Natural (-2.58%) leading the falls. The ministry for Energy will cut its retribution to the gas networks by 10%, which will affect Enegás and Gas Natural. A cut that is justified because the actual déficit that of the rate that is going through the sector.
Also, Bankia keeps falling (-2.74%) after the strong cuts of the past session after publishing its results. This Wednesday Santander’s accounts will be made known. on Thursday BBVA’s and on Friday Sabadell and CaixaBank.
In the blue chips, Repsol falls 2.07% and Telefónica 1.62%. The operator is news because Emilio Gayo has been named the new president of Telefónica España filling in for Luis Miguel Gilpérez. BBVA has fallen a 1.05%, Iberdrola a 1.03% and Santander a 0.94%.
In green there are not many values. Siemens Gamesa has announced losses of 35 million in the first quarter of their fiscal exercise (October to December). But the company is leading the Ibex (+3.8%) after anticipating good perspectives for the year. Viscofan follows (+0.2%) and Aena (+0.1%).
CATALONIA AND WALL STREET
In Spain, politics is back in the scene. The session in the Catalan parliament that was due this Tuesday to vote on Carles Puigdemont has finally been postponed. As the experts predicted, the news has had little effect on the Ibex. But the analysts who Bolsamania spoke to said that what happens in Catalonia won’t have an excessive impact on an Ibex that has already learned how to live with the Catalan issue.
As for Wall Street, it registers 1% falls in their worst session of the year after falling an average of 0.7% on Monday. In any case, despite the losses this session, the Dow Jones goes up a 6% in the month of January, because the falls fit in a normal technical correction.
Donald Trump is still news this Tuesday and his protectionist measures that he wants to implement. On Sunday during an interview with ITV, the president of the US said the trading policy of the EU was very unfair towards the US.
In the same interview, Trump assured that he would have negotiated Brexit terms with the EU in a harsher way than what Theresa May had been doing. At the start of the month Politico was reporting that Trump was preparing an important commercial offensive meaning to set important duties especially on Chinese products.
The calendar of the day involves the EuroZone’s GDP that has gone up a 2.5 in 2017, its best figure in 10 years. In Spain the fourth quarter GDP has revealed an annual rise of 3,1%. The minister for economy, Luis de Guindos has anticipated the growth in 2018 will be 3%.
In other markets, the Brent oil falls a 1.3% to 68.55 dollars. after the 2014 highs in the market last week over the 71 dollars. The euro appreciates 0.29% to 1.2418 dollars while the profitability of the Spanish bonds for 10 years reduces slightly to 1.57%.
TECHNICAL ANALYSIS OF THE IBEX 35
“The movement this Tuesday doesn’t necessarily invite to optimism. What we have is an important low space in the 10,555 points, now resistance, that is produced after failing a try (for now) if leaving the 10,600 resistance behind”, explains José María Rodríguez, technical analyst in Bolsamania.
“And in the weekly closes the 10,600 haven’t broken. The close on Friday was of 10,595 points. And as we were saying “or we break the weekly points with space or we won’t trust the rises”. Let’s see if Santander’s results tomorrow before the open please the investors and gets us closer to the resistance zone of 10,600 points”, says the expert.
“With everything, and despite the falls this Tuesday, the banks are still looking good and there is nothing that could tell us that the start of the year rally is over. With one session to close January the ibex goes up a 4%, the EuroStoxx 50 a 3% and Dax rises in value more than 2%, the CAC a 3%” concludes the expert.
