The+Ibex+breaks+its+bullish+streak+and+loses+the+9%2C900+points

Fuente: WFG
10/07/2018 08:22

MADRID, 10 JUL. (Bolsamania.com/BMS) .- The+Ibex+35+ends+its+bullish+run+of+the+last+days.+The+national+index+has+experienced+a+correction+on+Tuesday+and+has+yielded+0.38%25%2C+to+9%2C889+points%2C+hurt+mainly+by+the+bank+and+its+%27great+values%27.+This%2C+after+Wall+Street+closed+last+session+with+outstanding+increases+of+1%25+on+average%2C+which+continue+today+and+also+positive+numbers+in+Asia+this+morning.+%0DIn+fact%2C+the+Spanish+stock+market+has+been+the+only+one+in+the+Old+Continent+that+has+ended+the+day+with+losses.+The+rest+of+European+parks+have+registered+increases+of+between+0.3%25+and+0.6%25.%0ABBVA%2C+ONE+OF+THE+WORST+VALUES%0AThe+Ibex+has+been+harmed%2C+above+all%2C+by+the+listed+banks+and+their+%27big+values%27.+The+values+%26%238203%3B%26%238203%3Bthat+dropped+the+most+on+Tuesday+were+Cie+Automotive+%28-3.06%25%29%2C+BBVA+%28-2.45%25%29+and+BANKIA+%28-1.95%25%29.+The+Basque+entity+has+suffered+today+the+consequences+of+the+last+collapse+of+the+Turkish+lira%2C+as+the+Eurasian+country+is+one+of+its+main+markets%2C+and+has+become+the+%27red+lantern%27+in+much+of+the+session.%0ARegarding+Bankia%2C+it+should+be+mentioned%2C+on+the+one+hand%2C+that+it+has+broken+its+alliance+with+Aviva+Europe+and%2C+on+the+other%2C+that+Nadia+Calvi%F1o%2C+Minister+of+Economy+and+Business%2C+has+declared+that+there+is+no+%22urgency%22+from+the+Government+to+sell+its+share+of+the+capital+of+the+bank+%22in+light+of+its+listing%22.+Likewise%2C+on+Monday+it+was+known+that+the+entity+registered+a+new+maximum+of+short+positions+in+its+capital.%0AMeanwhile%2C+the+rest+of+the+banks+have+also+experienced+important+falls.+In+addition%2C+other+%27large+securities%27+of+the+Ibex%2C+such+as+Telef%F3nica+and+INDITEX%2C+have+experienced+falls+of+0.47%25+and+0.1%25%2C+respectively.%0AOTHER+COMPANIES%0AFor+its+part%2C+ARCELORMITTAL+has+lost+almost+0.4%25+despite+having+received+an+improvement+in+its+forecasts+by+Citi+analysts.%0AMeanwhile%2C+the+most+bullish+value+of+this+session+was+MEDIASET+%28%2B+2.32%25%29%2C+which+seems+to+have+recovered+from+the+setback+it+received+yesterday+from+Deutsche+Bank+analysts.+They+were+followed+by+T%E9cnicas+Reunidas+%28%2B+1.57%25%29+and+MERLIN+Properties+%28%2B+1.56%25%29+at+the+top+of+the+table.%0AIn+addition%2C+in+the+Continuous+Market%2C+Duro+Felguera+has+extended+its+strong+gains+from+yesterday%27s+session+after+shooting+up+to+47.25%25+on+Tuesday.%0AMACROECONOMY%0AHowever%2C+the+policy+remains+the+main+focus+of+interest+in+the+stock+markets%2C+and+especially+what+is+happening+in+the+United+Kingdom.+Late+Monday%2C+Foreign+Minister+Boris+Johnson+resigned%2C+a+decision+that+was+expected+%28and+feared%29+and+that+deepens+the+country%27s+political+crisis.+For+now%2C+however%2C+the+pound+remains+stable.+The+currency+seems+to+be+positively+evaluating+that+Theresa+May+has+defined+her+strategy+for+Brexit+%28%27soft%27%29+and+that%2C+for+the+time+being%2C+she+is+dedicating+herself+to+naming+substitutes+while+remaining+in+power.+Time+will+tell+if+this+situation+reaffirms+her+in+command+or+takes+her+ahead.%0A%22Brexit+is+currently+being+ignored+by+continental+European+stock+exchanges%2C+and+the+swings+that+are+taking+place+in+the+negotiations+between+the+United+Kingdom+and+its+EU+partners+are+only+being+reflected+in+the+foreign+exchange+market%2C+especially+as+regards+As+the+deadline+for+the+Brexit%2C+as+early+as+2019%2C+approaches+and+as+the+process+continues%2C+as+we+are+now%2C+we+understand+that+investors+will+refocus+their+attention+on+it.+and+in+its+potential+negative+consequences+for+the+economy+of+the+EU+as+a+whole%2C+%22the+experts+of+Link+Securities+point+out+in+their+daily+report.%0AFor+now+there+is+no+news+on+the+trade+crisis+between+China+and+the+United+States+after+the+mutual+imposition+of+new+tariffs+last+Friday%2C+which+is+good+news+considering+that+tensions+between+both+were+expected+to+rise+after+get+this+measure+going%0A%22The+markets+will+remain+very+aware+of+the+news+%2F+rumors+that+are+known+about+the+commercial+conflict+between+the+US+and+China%2C+pointing+out+that+yesterday+German+Chancellor+Merkel%2C+taking+advantage+of+her+meeting+with+Chinese+Premier+Li+Keqiang%2C+criticized+the+protectionist+policies+and+advocated+the+free+market%2C+in+a+clear+reference+to+the+position+of+the+US+Government+in+which%2C+on+the+other+hand%2C+we+do+not+believe+that+these+comments+will+cause+%27a+lot+of+pain%27+%22%2C+experts+from+Link+say.%0AIn+the+macro+data+plane%2C+this+Tuesday+the+German+ZEW+of+July+has+been+published%2C+which+has+been+worse+than+expected.+The+current+situation+ZEW+has+fallen+to+72.4+from+80.6+and+against+the+forecast+of+78.2.+For+its+part%2C+the+economic+sentiment+ZEW+has+been+-24.7+compared+to+the+previous+-16.1+and+the+estimate+of+-18.0.%0ATECHNICAL+ANALYSIS%0AJos%E9+Mar%EDa+Rodr%EDguez%2C+technical+analyst+of+Bolsaman%EDa%2C+remembers+that+this+has+been+the+%22first+session+of+falls+after+five+consecutive+closing+in+green+numbers%22.+Of+course%2C+he+explains+that+%22this+does+not+have+to+worry+at+all%2C+At+least+not+yet%22.%0A%22That+said%2C+the+precision+with+which+the+Ibex+has+braked%2C+at+the+doors+of+finger+stroking+the+resistance+of+9%2C985+points%2C+the+maximum+of+June%2C+was+the+highlight+of+Monday%27s+maximum+was+marked+at+9%2C971.6.+points%2C+which+means+that+the+Ibex+has+four+decreasing+highs+since+the+end+of+January%2C+and+below%2C+on+the+support+side%2C+we+already+know+that+we+have+three+growing+lows%2C+which+is+why+we+say+that+our+index+is+triangulating%2C+%22he+explains.+expert.%0A%22The+problem+now+is+that+there+are+many+resistances+above.+In+fact%2C+it+can+be+said+that+within+the+range+between+9%2C985+and+10%2C100+points+%28the+upper+part+of+the+triangle%29+there+are+many+areas+of+resistances+that+come+together%2C+and+it+will+not+be+easy+to+overcome+them+without+the+support+of+the+banks%2C+%22adds+Rodr%EDguez.%0A%22Somehow%2C+BBVA+has+canceled+the+good+short-term+aspect+that+it+presented+this+morning%2C+because+we+had+a+small+figure+back+on+%27double+floor%27+that+has+been+canceled%2C+it+has+gone+to+the+bottom.+energetics%2C+Inditex+and+TELEFONICA+are+being+able+to+neutralize+the+weakness+of+the+banking+sector%2C+being+able+to+surpass+the+highs+of+June+%289%2C985%29%2C+it+would+seem+that+something+could+be+starting+to+change+%28for+good%29+in+our+Ibex%2C+since+it+would+be+the+first+maximum+increase+since+the+end+of+January+%22%2C+concludes+the+technical+analyst.