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The Ibex is still dominated by caution and deflates again


The Ibex returns again for its privileges after having managed to advance with some more force this morning. At this time it deflates and struggles not to lose 9,500 (-0.09%. 9,502 points). The high oversold, however, should favor a rebound. "The important thing, as I have been commenting in recent days, is that the support of 9,468 points (bullish gap of the last four-hour witch hour) remains intact. Yes, this has been filled in but it has not been closed and therefore the bullish connotations of it are still there, "says José María Rodríguez, an analyst at Bolsamanía.

Within the selective increase the majority of titles, with Viscofan and Ence at the head (+ 3%). On the negative side it stands out Grifols, which today Credit Suisse has improved the price. However, it remains in line with the current price quoted. In addition, the firm shows certain doubts about Grifols Alzheimer's research.

In the geopolitical field, the 'phase one' agreement between the United States and China is already history. It has been signed and now everyone thinks of the more complicated negotiations of the 'phase two'. The tariffs, of course, remain intact and, as if that were not enough, Donald Trump has again threatened Europe in recent hours with import tariffs on vehicles If you don't support him against Iran. Trump claims that the United Kingdom, France and Germany formally accuse Iran of breaking the 2015 nuclear agreement, as reported by the 'Washington Post' citing European officials.

With everything, "caution prevails", as noted by Michael Hewson, director of analysis at CMC Markets in London. "Among the negative aspects of the 'phase one' agreement, it is worth highlighting that tariffs remain in force for Chinese goods worth 360,000 million dollars, and they are likely to remain there for at least another 12 months, "he says.

"Since it has taken almost two years to reap the rewards of the first phase of the agreement, it is logical to think that the second phase will probably take much longer. It is also likely that President Trump will incorporate the prospect of a 'phase two' agreement into his re-election campaign, "adds Hewson.

Wall Street on Wednesday picked up the signing of the agreement with new historical highs for Dow Jones and S&P while in Asia the day has ended with mixed out. It should be noted that all this has been seasoned by business results the other side of the Atlantic They keep showing that profits are being hard to sustain. This Thursday will continue to know figures there.

"After having spent most of the last months worried about trade with China and geopolitical tensions in the Middle East, and particularly in Iran, both seem to have taken a slightly more benign turn. No one knows if this current situation will last. , but for now markets can focus more on profits, as well as on the prospects of the world economy"adds Hewson.

In the macro data chapter, the December CPI for Germany was published today (0.5% monthly versus 0.5% expected and earlier). In addition, the minutes of the last ECB rate meeting will be published. In the US, watch out for retail sales. Likewise, Lagarde will speak late in the afternoon.

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