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Ibex: more doubts at the start of the day despite the encouraging data in China

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European futures come this Tuesday with increases of 0.8% on average, but US futures fall 0.5%, after yesterday's session it will result in falls for the Ibex and increases in the rest of the squares of the Old Continent, and after Wall Street ends the day in positive (+ 3.5%). In Asia, the day has a predominance of green numbers. There it has been known China's purchasing managers index, which performed better than expected in March and it has also been above the contraction level of 50 (52, compared to a forecast of 45 and the previous 35.7).

The non-manufacturing PMI report was also released, standing at 52.3 against the estimate of 42.1 and the previous benchmark of 29.6. "The strong turnaround in commercial activity gives hope to western economies that are currently blocked"says David Madden, an analyst at CMC Markets in London.

Preliminary inflation figures for March are published in the euro area. "We still expect 0.8% headline inflation as rising food prices are dampening some of the downward pressure on energy prices. For core inflation, we forecast 1.1% due to the decrease in inflation for services (especially tour packages). However, most of the data is likely have collected before the country closings, which only partially reflects the repercussions of the coronavirus on the inflation front, "explains Danske Bank.

In Spain today the GDP of the fourth quarter will be known.

And, as data becomes known, the Ibex continues to demonstrate its weakness to face a rebound that could be said to have started last week, when it finally managed to close positive in the weekly accumulated index for the first time in five weeks. Bolsamanía experts acknowledge that bouncing will not be easy for the Spanish index – "No one said that bouncing was a pain in the neck" – and recall that It has resistance at 7,400 and support at 5,800 points.

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