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Banks, Colonial and IAG push the Ibex into the red, which falls 0.64% this Monday


The Ibex fell 0.64% on Monday after falling more than 2% while the European stock markets closed with increases. The Spanish selective has been pressured by sharp falls in banks (Santander has lost the March lows and Sabadell is at record lows) or those of IAG and Colonial, which have decreased by 3.13% and 3.16% respectively.

Repsol has also fallen (-0.67%), the oil company falls behind the crash that oil lives again on Monday. West Texas crude sinks below $ 14 a barrel (-28%) for, among other reasons, the imminent expiration of the future in May, according to analysts.

The Bando de España has announced that GDP expected to fall to 13.6% if confinement is lengthened. Spain, and also Italy, are the two European countries that will suffer the most economically from the pandemic. They are already doing it at the level of human lives and, economically, the consensus foresees an especially severe recession for them.

In the last 24 hours, there have been less than 400 deaths from coronaviruses in our country, which represents a decrease. Still, the total death toll stands at 20,852. It is a constant that the most 'positive' news mixes with the negative in this whole crisis. Last week, Germany confirmed that it will allow certain businesses to reopen starting today. Not all countries relax the restrictions, as France and the United Kingdom have extended their closings until next month. Over the weekend, Spain also announced plans to extend the closure, but restrictions to allow children to go outside will be relaxed.

Meanwhile, United States President Donald Trump has said this weekend that wants to go to China to investigate how the coronavirus outbreak arose and he has assured that they maintain constant conversations with the Asian country, despite the fact that their requests have been rejected on several occasions. "We are talking to China. We talked to them a long time ago about going. We want to go," President Trump insisted during this Sunday's press conference at the White House.

Red numbers have also hit Wall Street. At this time on Monday yields 1.5% after the historic collapse of West Texas, benchmark oil in the United States. "The movements we are seeing in the oil market are simply incredible," analysts at Bleakley Advisory Group acknowledge.

In Asia, this Monday it is news that the People's Bank of China (BPC) has cut twenty-ten basis points, respectively, the reference rates applied to bank loans at one and five years, which will come to stand at 3.85% for twelve-month loans and 4.65% for longer-term loans .

This week business results will continue to be published worldwide and the season begins as such and Spain. Throughout the next five sessions we will know the accounts of Enagás, Grifols or Bankinter. Investors will be very aware of the impact of the coronavirus in all these figures. Over the past week, US banks released their results and showed, with sharp drops in profits, to what extent the disease is going to harm the accounts of the companies.


"The candle we left this Monday is similar to that of last Thursday. We have touched the lows of last week and there the correction has been stopped, after partially filling in the bullish gap that we have at 6,580 points. This is the most immediate support in our selective ", explains the technical analyst of ForexNews.online, José María Rodríguez.

"As long as it is not closed, or what is the same is canceled, everything will remain the same. Let's say we are deploying a narrow side that can be prior consolidation before trying to reach higher levels on the rebound, "he added.

"Bounce that still cannot be considered exhausted despite the clear loss of 'momentum' (cruising speed) from the market. Thus, the resistances to watch are at 7,210 and above 7,450 points (38.2% adjustment) and 8,000 (50% retracement), "concludes the expert.

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