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The Ibex stands out from the falls in Europe and closes flat, below 6,700



The Ibex has saved the day by the minimum and has closed flat (+ 0.04%) after leading the rises in the European stock markets after reaching more than 1% advance. The escalation of tensions between the United States and China has damaged European markets, which have been left around 1%. Donald Trump, the president of the United States, has launched a series of accusations against Xi Jinping, his Chinese counterpart. Trump has said that Xi is behind a "disinformation and propaganda attack against the United States and Europe".

"Everything comes from above," he wrote in a series of tweets Wednesday night. Although Donald Trump has often blamed China for failing to prevent the pandemic, until now he had been careful to ensure that his relationship with Xi remained strong.

Within the Spanish market, the very strong increases of over 50% in OHL have stood out, after Villar Mir has sold 16% of the construction company to the Amodios for 1.1 euros per share.

In another order of things, this Thursday there has been talk of that possibility of seeing negative rates in UK. Bank of England Governor Andrew Bailey has stated that the agency does not exclude the idea of ​​reducing loan costs to below zero to address the economic impact of coronavirus. Keep all options on the table "It shouldn't come as a surprise"He added, noting that this policy had received "contradictory criticism" elsewhere.

The minutes of the April Fed meeting were published last night. The document showed that central bankers They are very concerned about the state of the US economy, as well as the prospects. Fears of a second wave of coronavirus. Central bankers are also concerned about the health of the banking system, as they are likely to increase defaults and bankruptcies.

Regarding macro data, the PMIs known today in Europe show that the economy of the euro zone continued in May mired in its deepest slowdown ever recorded because they followed the measures adopted to control the Covid-19 outbreak. However, economic decline begins to show signs of attenuation At the same time, containment measures are relaxed in some economic sectors. The PMI index prepared by the consultancy Markit shows that the Total Activity of the euro zone it rose from its record low of 13.6 in April to 30.5 in May, its highest since last February.

Also, weekly unemployment claims in the United States have been known. The data has been 2.4 million, which is an improvement from the 2.98 million published in last week's announcement. In addition, the Philadelphia Federal Reserve Index is published. Finally, the Fed President, Jerome Powell will speak at an event around 6:30 PM Spanish time.


"The Ibex, despite moving away from the danger zone of 6,420 points (the lows of last week), is listed in the no-man's-zone. Halfway in round numbers between the support of 6,400 and the resistance of 7,000 points ", explains José María Rodríguez, technical analyst at ForexNews.online.

"The truth is that until we get out of there we will have no clue about what may be the next big move in the short-term trend. And very careful about drilling last week's lows because we would begin to look towards the March lows, "says the expert.

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