The Ibex takes a break in the way of the 10,700 points

The Ibex 35 is going slowly in the search of 10,700 points (+ 0.14%, 10,601 points), especially pointing to the most immediate technical resistance of the 10,705 points. The main index of the Stock Exchange of Madrid had a good beginning of month with a revaluation of 0.8%, in line with the rest of the main European exchanges, and finished in 10,586 points.

However, the Ibex has room to rise to 10,705 points, the closest resistance from a technical point of view. While the support to be pending is in the range between 10,360 and 10,370 points, last week's low.

The Ibex has maintained a lateral movement between these levels during the corporate earnings season in Spain, which reflects an increase in bank profits of 21% year-on-year, and results positively valued by the market for 'blue chips' such as Telefónica . It also leaves victims like Siemens Gamesa, which left another 6.57% on Tuesday but started on Wednesday, recovering 2.7% and resuming 13 euros per share. IAG is again leading the increases of this day with increases of 1.39%, after rising yesterday by 3.6%.

Beyond the business agenda, investors will have few macroeconomic references on Wednesday. Data released by the Ministry of Employment and Social Security reveal a drop in the number of unemployed in the last month of 26,887 people to a total of 3,335,924 unemployed, the lowest level in the last eight years.