Monday, March 4, 2019

The Ibex-35 closes in annual maximum and almost in the 9,200 points

The Ibex-35 closes in annual maximum and almost in the 9,200 points

For the Spanish selective it was fundamental that Iberdrola ended with gains of 1.21% and 1.07% respectively

The Ibex-35 exceeded 9,200 points early in the morning and marked maximums at 9,220 points. But, from there, he lost positions . He tried a couple more times to exceed 9,200 points, but without success. At closing it gave a final change in the 9,191.2 points, which means a minimum rise of 0.11%.

The Spanish selective hit, as in some of the previous days, with the annual highs that marked the 9,185 points almost a month ago. Although in the end it managed to exceed them and, therefore, end the day at the highest levels of the year. Perhaps the real resistance that the selective Spanish is struggling to overcome is in the 9,200 points.

In the Old Continent, the best indicator of all was the German Dax, which scored 0.19%. The French Cac 40 closed in tables . In red, the worst was the British Ftse 100, which lost 0.85%, given the difficulties that the United Kingdom and the European Union are finding in their new talks, so the probability of a 'brexit' without agreement increases . The Ftse Mib of Milan, meanwhile, left 0.47%. The PSI-20 of Lisbon, meanwhile, lost 0.32%.

For the domestic indicator, it was fundamental that ( as a reward for its good results ) and Iberdrola they ended with gains of 1.21% and 1.07%, respectively. They were only outperformed by Enagás, which scored 1.91%. Acciona also added more than one percentage point.

In red, Indra was the worst of all , with a cut of 1.40%. Merlin Properties and Grifols were left around 1.30%. Viscofán and Meliá also fell more than one percentage point. And Ferrovial lost just 1%. In negative, some 'blue chips': BBVA, Inditex and Repsol, which were left, in that order, 0.25%, 0.20% and 0.01%.

Macro data
In Europe, the economic data was not positive. The index of purchasing managers in the industrial sector fell from 50.5 to 49.2 points, pressured by the strong deterioration suffered by Germany . Placing below 50 points implies contraction of the activity. In contrast, the service sector index improved from 51.2 to 52.3. This resulted in an improvement of the composite indicator from 51 to 51.4 points.

On Wall Street, red numbers. At the close of the European session, the Dow Jones, the S & P 500 and the Nasdaq recorded losses of between 0.3% and 0.5%. This, after the publication of bad economic data in the United States. Although the employment indicators continue to be favorable, there were others that behaved more weakly. Thus, orders for durable goods grew by 1.2% in December, below the 1.7% anticipated by analysts.

Purchasing managers' indexes offered a mixed reading: the manufacturing index fell from 54.9 to 53.7 points, when it was expected to be at 54.8 points; but, to compensate, as has also happened in the euro zone, that of the services sector improved by surprise from 54.2 to 56.2 points. The references were bad in the real estate market: the falls in home sales continued. And the indicators indicator, which provides a general reading of the economic situation, fell by 0.1% in January, compared to the 0.1% increase expected.

Investors are awaiting both the macro and commercial negotiations , after the indexes have registered a strong rebound in the last almost two months, from the lows that marked the end of December.

Foreign exchange, bonds and raw materials
In the currency market, the exchange rate between the euro and the dollar remained around 1,133 units. Despite the regular economic references, we saw increases in bond yields. The interest of the American ten-year bond advanced from 2.65% to 2.69%. The performance of its comparable German went from 0.10% to 0.13%.

The yield of the Spanish ten-year bond remained at 1.20%. With this, its risk premium narrowed from 110 to 107 basis points. The barrel of West Texas, of reference in the United States, chained its seventh consecutive session of promotions: at the close, it was written down 0.25%, until exceeding $ 57 for the first time since November 12. The barrel of Brent, of reference in Europe, was written down 0.15%, up to 67.20 dollars.

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