Day marked by volatility. The Ibex has continued to offer signs of weakness and has been between green and red all Friday, although it has finally managed to cheer up in the last bars and has closed with an advance of 1.1%, recovering 7,300 points. Today's increases were not enough to save the week and the selective closed with a drop of more than 1%
Bolsamanía experts warn that the falls of the last days (he loses more than 2% in the accumulated index of the last four sessions), after failing to attack the resistance of 7,664 points, are bringing him closer to these levels. At the same time, they point out that, to the extent that those 7,664 points are not exceeded, We will not have any signs of strength in our selective in the short term.
The week has been marked by the scarcity of draft references and for fear that the economic recovery will not be as fast as expected. The business results season begins next week, especially in the United States, which will gain special strength in the last two weeks of July in Spain. There is uncertainty and caution about what may happen, however much analysts say that the bad news is already discounted.
All in all, the European stock markets closed with increases of 1% after the mixed closing, with predominance of red numbers, yesterday in Wall street, and after a session of widespread cuts in Asia.
Precisely Wall Street is trading again mixed highlighting the falls on the Nasdaq after yesterday's highs. The bleak advance of the coronavirus in the US and Trump's 'black' list, which revives the trade war with China, They put fear back in the investors' body.
The news in Spain and at the European level is the failure of the Pedro Sánchez government in his attempt to have Minister Nadia Calviño take over the presidency of the Eurogroup. She was the clear favorite and has finally been overtaken by the Irish candidate, Pachal Donohoe. Since the creation of the organism, no Spanish has managed to preside over it, although they have tried. Jean-Claude Juncker from Luxembourg (2004-2013), Dutch Jeroen Djisselbloem (2013-2015 and 2015-2018) and Portuguese Mário Centeno (2018-2020) have been in charge.
On the other hand, investors are already looking at next week. In addition to business results, there will be a rate meeting of the European Central Bank (ECB) and, as always, there is much interest in what it can say or do to face the current crisis. Fear is growing as outbreaks increase worldwide. The death toll rises again and the possibility of a new closure of the economies is there. This Thursday, The US recorded more than 60,500 new cases of Covid-19, a new record. In addition, it is reported that Hong Kong schools will close again for health reasons, and Australia wants to stagger the return of its citizens to the activity.
Finally, it should be noted that, one week before the summit of the European Union (EU) that has to set the fiscal course of the bloc in full recovery of the economy after the pandemic, the President of the European Council, Charles Michel, presented this Friday a proposal to convince the so-called 'four frugal' countries to get on board the Recovery Fund. As expected, has cut the multi-year budget to $ 1.074 trillion (down 2.36%), of the 1.1 trillion proposed by the European Commission -the conservative countries asked for 1.05 trillion- in exchange for getting the 750,000 million of the reconstruction approved, as reported by 'Reuters'.
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