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The Ibex closes July with a collapse close to 5% and below 6,900 points


Last day of the week and last day of the month, a month in which there has been no salvation for the Ibex. The Spanish selective has fallen in the last 31 days about 5%. It was clearly behaving weaker than the rest of the European squares and the results that have been published in waterspout this week, very affected by the Covid-19, have ended up giving it the lace. The selective was left this Friday by 1.7% and has lost 6,900 points. And, what is worse, it has lost supports, which clears the way to the level of 6,400 points.

Within the selective, falls have been imposed and very few values ​​have managed to close green. Viscofan has been leading the climbs. It has advanced more than 7% after I presented very positive accounts yesterday. It has earned 57.3 million euros in the first six months of the year.

"Bad, very bad signal on the Ibex 35 this Thursday, after finishing with falls of 2.91%, which led it to close below the key support of 7.062 points. For the next few days it is very possible that it will end up covering the bullish gap that was left at 6,856 points. If you cannot hold on to these levels, the most normal thing is that we can end up seeing an extension of the falls to the level of 6,400 points. We will not appreciate the slightest sign of strength as long as it remains trading below the 7,663 points, prices close to 10% above current ", explains César Nuez, analyst at Bolsamanía and head of Trader Wath.

This Friday, again, the results are protagonists. They have presented their figures Sabadell and CaixaBank, with a strong impact of the virus and with provisions of 1,089 million and 1,155 million in the first half, respectively. In addition, IAG has announced losses in the period of 3,806 million and has confirmed that it will propose a capital increase of 2.75 billion, an increase to be signed by Qatar Airways.

To all this we must add the figures that the big tech They published last night on Wall Street, not forgetting the bump that the companies that announced accounts in Spain (BBVA, Telefónica …) experienced on Thursday and that led the selective to lose key support levels.

On the other side of the Atlantic, doubts prevail, and at the close of the European market, the main Wall Street indices are trading with a mixed sign. Only the Dow Jones falls at this time on Friday, leaving about 0.4%.

The macro also comes to the fore in this last monthly session. He Eurozone GDP suffers unprecedented decline of 12.1% in the second quarter. Meanwhile, Spain has announced a historical collapse of the GDP of 18.5% in the second quarter, with the entry of the country into recession. In France, meanwhile, GDP sank 13.8%, while Italy fell 12.4%.

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