Monday, March 4, 2019

The Ibex-35 ends the day at the doors of annual highs

The Ibex-35 ends the day at the doors of annual highs

Oil and gold marked maxima of three months and ten months, respectively

  The Ibex-35 has been positive throughout the day, but on several occasions has hit the annual highs that marked January 25 at 9,185 points: first, at ten o'clock in the morning, then at one and a half and, finally, shortly before five in the afternoon. It seems that this higher level of the year, the level at which the index managed to accumulate a return of almost 8% in this 2019, is acting, both yesterday and today, as resistance. At closing, gave a final change in the 9,181.10 points, which is a rise of 0.49%. He stayed at the doors of annual highs, therefore. Its performance in this exercise is 7.5%.

The selective Spanish rose almost without rest between January 1 and 25 from 8,500 to almost 9,200 points. From there it fell to below 8,900 points on February 8. And from there he has regained positions. We'll see if it has bellows to go higher.

  The German Dax was the most profitable indicator of the day, with a rise of 0.8%, as well as the PSI-20 of Lisbon. Meanwhile, the British Ftse 100 and the French Cac 40 scored close to 0.7%.

The cyclical values ​​acted as the main support for the Spanish selective. Técnicas Reunidas was the most bullish, with a revaluation of 2.95%. They were followed by Cie Automotive and Mediaset, which scored 2.46% each. ArcelorMittal added 2.29%.

Several blue chips also boosted the domestic indicator: Santander rose 1.38%, while Iberdrola rose 1.30%. Telefónica, for its part, gained 1.05%, BBVA, 0.93%, and Repsol, 0.63%.

In red, the worst was Red Eléctrica, which left 2.58%. Next, Inditex was placed, which fell 1.13%. Then ACS and Colonial were placed, which fell by around 0.7%. But only another half dozen stocks ended up with losses: Caixabank, Ence, Cellnex, Enagás, Naturgy and Viscofán.

Perhaps as a possible support to European markets acted the new agreement that is brewing in Brussels around the 'brexit' to achieve the final support of the British Parliament. Spanish Foreign Minister Josep Borrell has said that progress is being made. "The position of the European Union is that the treaty will not be reopened, but it can be interpreted, or completed with explanations that can be satisfactory," said Borrell. Geoffrey Cox, the British Prime Minister, Theresa May, has sent his highest-level legal adviser, Geoffrey Cox, to Brussels, and is confident that if he is satisfied with the changes, then he will be able to convince supporters of the 'brexit' give your support in the British Parliament. In this way the possibility of a Brexit without an agreement that would run on March 29 would be aborted.

In addition, from the macroeconomic front, we learned about the consumer confidence index developed by the Conference Board, which improved slightly from -7.9 points to -7.4, when the consensus expected it to be at -7.7. .

On Wall Street, as in yesterday's session, weakness. The Dow Jones and the S & P 500 were practically flat at the time of the close of the European Stock Exchanges, while the Nasdaq was about 0.25%. This, waiting for the US Federal Reserve to publish the minutes of its last monetary policy meeting. The market wonders if the Fed will really continue to interrupt the process of interest rate hikes.

In addition, there continue to be comments on the negotiations of the trade war. The latter point out that the United States would like China to keep its currency stable, while the Asian giant wants to have the right to develop its economy.

In the background is also emerging the question of whether the rise that the American stock accumulates of around 18% has left the market with no margin to continue rising. Especially since the catalysts that lie ahead can be limited.

Foreign exchange, debt and raw materials
In this wait until the publication of the minutes of the Fed, the euro gained positions with respect to the greenback: the community currency was written down 0.15%, up to the level of 1,136 units.

In the debt market, the yield on the 10-year American bond advanced slightly again to levels of 2.65%. The interest of its comparable German remained in the vicinity of 0.10%. The type of Spanish was around the 1.20% mark.

The interests of Italian bonds rose significantly: from 2.78% to 2.85%.

In the commodity market, the Brent barrel, a benchmark in Europe, advanced 0.84% ​​to $ 67, the highest since mid-November. The barrel of West Texas, of reference in the United States, scored 1.53%, up to almost $ 57, also peaks of the last three months.

Gold chained its fifth day positive, up to $ 1,344, its highest level since April last year.

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