The Ibex ended on Friday with an advance of 0.78%, despite the fact that the falls of Telefónica (-1.61%), Repsol (-1.6%) or Inditex (-1.11%) have subtracted it force. The selective and the rest of European stock markets have advanced after learning that the two largest economic powers in the world, the US and China, They have kept a call to lower tensions. This, after the accusations of the USA to China on the authorship of the virus, and the angry response of the Asian giant. Precisely these tensions caused the sharp falls in the bags on Monday. Despite today's increases, the Spanish selective has left about 2% in the weekly accumulated.
The American trade negotiator, Robert Lighthizer, his Chinese counterpart, Liu He, and the Secretary of the Treasury, Steven Mnuchin, have had a phone call. The two largest economies in the world have agreed to strengthen macroeconomic and public health cooperationReuters reported early Thursday morning.
"Both parties noted that should strengthen macroeconomic and public health cooperationstrive for create an atmosphere and favorable conditions for the implementation of phase one of the economic and trade agreement between the United States and China, promoting positive results, "said the note from the Chinese Ministry of Commerce.
This means a relaxation of the hostilities that were brewing between Washington and Beijing after the President Donald trump He will accuse China of mishandling the coronavirus outbreak and threaten to nullify the bilateral trade pact between nations.
Last week, the President of the United States threatened new tariffs against China after claiming that there was evidence linking Covid-19 to a high-security laboratory in the Chinese city of Wuhan, where the pathogen was identified late last year.
This is one of the highlights of the day. The other has been the US employment report for April. The virus has destroyed 20.5 million in the world's largest economy. In a single month. Unemployment has gone from 4.4% in March to 14.7%, more than expected (14%).
"The Ibex closes positive this Friday and within the flat encephalogram of the last sessions. The price range in which we are moving is narrowing more and more and, for the moment, we have not drilled any support ", explains José María Rodríguez, technical analyst at ForexNews.online.
"The 6,580 points are holding with maximum precision. And above, on the resistance side, the most important is at the April highs, 7,210 points, "he added.
"The only thing I'm looking at in the very short term that I don't dislike is the fact that we have significant daily oversold levels on the stochastic momentum oscillator. Which means that under normal conditions we should see a rebound. Rebound embedded always within a corrective phase of a greater degree of course, "concludes the expert.
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