- Today is the first great expiration of the year
After a week in which hardly anything has moved, the Ibex 35 has woken up this last day and has risen 0.79%. With this, it has recovered the level of the 9,700 points it lost on Tuesday (it has finished at 9,761) and accumulates a weekly gain of more than 0.7%.
- 11.085,900
- -0,61%
The index has been supported this Friday, especially by BBVA. The entity has been one of the most bullish values (+ 1.88%), the most bullish most of the session, after it held today the Shareholders' Meeting and has announced the dividend will rise in line with its results and that he will pay 100% in cash.
However, at the top of the table we find oil company Repsol (+ 1.86%), Banco Santander (+ 1.97%) and CaixaBank (+ 1.83%). In this way, the other 'blue chips' (or 'heavyweights') of the index have also shown significant rises at the close (Inditex: +1.385, Telefónica: + 1.74%, Banco Santander:).
In addition, the rest of the banking sector has also shown good behavior, unlike two days ago, which has also driven the Ibex to have a great weight within it.
On the other hand, the falls this Friday were led by Indra (-2.08%), followed by Mediaset España (-2.01%) and Meliá Hotels (-1.325).
THE MAIN BOARD AND OTHER STOCKS
In the main board, it should be noted that Tubos Reunidos and Duro Felguera have continued with their losses with falls of 12.5% and 9.45%, respectively. In addition, the audiovisual production company Vértice 360º has not managed to list in the session this Friday after the 'clash' that occurred yesterday between the CNMV and the company, after the regulator launched an 'unprecedented' alert. An act that the company called "subjective opinions."
Outside of Spain, the main European stock exchanges also finished the session in green, with rises between 0.3% and 0.6%. Some increases that are also shown on Wall Street at the close of the Spanish market.
It is worth mentioning that this Friday has been the first major expiration of options and futures of the year, which is known as 'quadruple witch hour'. This event is usually accompanied by an increase in volume and, sometimes, also an increase in volatility. Possibly this fact has been one of the causes that has caused that the stock exchanges in general, and in particular the Spanish index, managed to react in the last part of the day.
MACROECONOMY AND POLITICS
Moreover, apart from the expiration of options and futures, this Friday the agenda has brought the CPI of the Euro Zone in February, which drops by 1.1% and drives away the 'hawks'. In addition, the labor costs of the fourth quarter of the Euro Zone fell to 1.5% from 1.6% and against the estimated 1.8%.
On the political front, Friday ends the election campaign in Russia before Sunday's presidential election. In all certainty, Vladimir Putin will achieve victory, a triumph that will come in the middle of a diplomatic crisis between Russia and the United Kingdom over the Salisbury poisoning of Russian spies.
"Tensions between Russia and a number of NATO countries spread yesterday after Germany, France and the United States asked the Kremlin to explain its role in the recent poisoning of a Russian spy and his daughter in the United Kingdom. The United States will sanction a number of Russian people and groups for interfering with the election campaign and for carrying out "cyber attacks." To add further uncertainty, the president of the United States allegedly plans to replace his national security adviser, Herbert McMaster. In addition, the prosecutor Robert S. Mueller officially quoted members of the Trump organization for the case of Russian meddling in the elections, "explain the experts of Danske Bank.
TECHNICAL ANALYSIS
"Despite the increases on Friday, the truth is that from the point of view of technical analysis everything remains the same," according to José María Rodríguez, technical analyst at Bolsamanía. "And so it will continue to be as long as the price does not jump above 9,940 points," he adds.
"The homologous level at 9,940 points in the German Dax is found in the 12,600 points and in the case of the future of the Euro Stoxx 50 in the 3,390 points, or what is the same, in order to have a first sign of strength for the European stock exchanges, in block, we need that the indexes jump (in closures) over the resistances to which we have referred, while everything that happens below are simple rebounds that do not take us anywhere ". says the expert.
"The 'blue chip' Telefónica still presents a good appearance, which seems determined to test the resistance of 8.6 euros, and Inditex also, in the next sessions, which has left us with a powerful weekly candle and back '(with a lot of volume) that, most likely, is the turning point for the company after a 37% drop from all-time highs, at least we have recovered one of the engines of our market: Inditex ", he concludes.
