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The Ibex expects more stimuli from the ECB with the 8,000 'shot'

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Who was going to say it nothing, when the 8,000, and even the 7,000, looked far, far away. However, the Ibex and the other exchanges They are unstoppable, they ignore the bad news, and they still want to continue advancing by clinging to the macro 'improvement', to the reopening of the economies and to everything that can be interpreted as good news, while ignoring the bad news. Experts continue to recommend great caution, and some say that this rally is not sustained by current fundamentals. Be that as it may, there is a desire to move forward and today we will have to see if what the European squares have done these days is to discount what the ECB will announce this Thursday -and, therefore, they take it easy- or if they still have a tour to the sound of more stimuli.

"Today's highlight will be the ECB meeting. We expect the ECB to expand the endowment of the Emergency Procurement Program for Pandemics (PEPP) by € 500 billion through June 2021. to avoid a tightening of financial conditions. We will also focus on the central bank's comments on the ruling of the German Constitutional Court and on updated forecasts, which we hope will draw a dire economic picture"indicate the experts at Danske Bank.

This Thursday is also news that Germany has approved, last night, a stimulus package worth 130 billion euros to support the country's economy to recover from the crisis derived from the coronavirus pandemic, as announced by Chancellor Angela Merkel. The chancellor has alleged that drastic spending is necessary to "give a future to the next generations". The approved amount, which covers 2020 and 2021, has exceeded all expectations, since it was speculated that a total of 80,000 million euros would be allocated to this contingency.

All in all, the Ibex starts the session this Thursday at 7,626 points, after cutting the resistance of 7,436 points. "The selective Spanish seeks extend earnings to the 8,000 point level, prices where is the bearish gap that was left on March 9. If it managed to exceed these prices, it could end up filling the gap to the downside of this same day, in the 8,375 points. However, for these prices the average of 200 sessions is found, the average in which profits could be stopped, "explains César Nuez, analyst at Bolsamanía.

As for other appointments of the day, investors will be attentive to weekly unemployment claims in the US. This, after, in the last day, the employment data of the consulting firm ADP were known. Expectations were that 9 million jobs would be lost in May; However, the final figure was 2.76 million jobs, which, although still bad, was a much better figure than expected.

Finally, investors will continue to watch for oil, waiting for that OPEC + meeting that was speculated could be brought forward this Thursday, although there is no news about it. Brent reconquered last day the $ 40 per barrel. This Thursday is falling, but remains stuck at those levels.

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