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The Ibex returns to gain strength in its attempt to reach 9,600 points


After the midday downturn, the Ibex has regained strength in its attempt to reach 9,600 points. At this time, the Spanish selective rises 0.6%, to 9,570 points, thanks to increases in Ence (5%) after announcing that it has closed the sale of 1.1 million tons of Cellulose. It also highlights the strong 4% rebound in Viscofan.

On the negative side, the cuts in attention Grifols, which today Credit Suisse has improved the price. However, it remains in line with the current quotation price. In addition, the firm shows certain doubts about Alzheimer's research.

The selective Spanish has been about to lose 9,500 points at noon. However, the expert of 'Bolsamanía', José María Rodríguez, notes that the important thing is that the support of 9,468 points (bullish hollow of the last four-hour witch hour) remains intact. Yes, it has been filled in but not closed and, therefore, the bullish connotations of the same continue being there".


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 the ones from Morgan Stanley

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 type meeting have been known. The body speaks of a weak but stable growth dynamic. In the US, watch out for retail sales. Also, in the late afternoon will speak the President of the European Central Bank (ECB), Christine Lagarde.

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