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The Ibex closes with a weekly advance of 1.06% and manages to save 6,900 points


The downward pressure that has loomed over the big Ibex as BBVA and on tourist values, which have continued to weigh down the selective although they managed to finish flat on Friday but have missed 7,000 points. The positive side would be that the week ended with an advance of 1.06%.

The Basque entity (-3%) focuses the attention of the shorts, with analysts and traders who point to taking bearish positions due to the suffering that the collapse of the Turkish lira adds to the Basque bank, very exposed to the Ottoman country by Garanti.

The currency has once again suffered notable falls this Thursday, when it has fallen 3% and has reached the unprecedented change of 8.655 per euro, a new all-time low. Against the dollar, it has exceeded its worst price of all time, up to 7,311 for each greenback. Usually, the Spanish banking sector moves in negative territory.

Telephone (+ 1.17%) has been one of the values ​​that has risen the most, but it is not having a better time and its situation has caused the president of the operator, José María Álvarez-Pallete, has reacquired Telefónica shares at a time when the share of the teleco is at a minimum of more than 20 years, thus giving the value new hope of recovery.

It is also news MoreMobile, which has finished flat, and whose board of directors considers reasonable from a financial point of view, as the Goldman Sachs report also reiterates, the price of the Public Tender Offer (OPA) of the KKR, Providence and Cinven funds on the Spanish telecommunications operator MásMóvil valued at 2,963.57 million euros, at a rate of 22.50 euros in cash for each security.

Regarding macroeconomic references, German exports last June registered their highest monthly increase of the entire historical series, which dates back to 1990, after growing 14.9% compared to May.

In addition, the industry of Germany, France, Italy and Spain maintained a strong upward trend in June after the rebound experienced in May when restrictions began to be lifted, according to data released this Friday, which encourages the expectation of recovery in the euro area, after the historic 12.1% drop in GDP in the second quarter. In Spain, industrial production rose 14% in June but it falls 9.6% annually due to the crisis and the sale of homes moderated its fall to 34% in June, fourth month down.

And in the United States, unemployment data for July They have exceeded consensus forecasts, as the US economy created 1.76 million jobs last month, above the 1.6 million anticipated by the consensus.

On the international scene, the president of the United States, Donald Trump, does not give TikTok breathing space and has signed an executive order with which it prohibits any transaction or business with ByteDance, the Chinese developer of TikTok, from 45 days. The US is also in the news since it has announced this Thursday that it withdraws its recommendation to avoid travel to all countries in the world because of the coronavirus, which has been changed by individual recommendations such as that issued for Spain, in which case it asks its citizens to "reconsider "the possibility of moving to the country.

In Asia, this morning the China's foreign trade data, which increased 6.5% in July compared to the same month last year, according to data published today by the General Administration of Customs, reaching 2.93 trillion yuan (420,548 million dollars, 355,300 million euros). Most of the floors of the continent closed in the red, with falls of 0.3% in the Nikkei, 0.51% in the South Korean Kospi and 0.64% in the Australian ASX.

. (tagsToTranslate) Ibex (t) closes (t) weekly advance (t) (t) 1 (t) 06% (t) achieves (t) save (t) 6,900 (t) points (t) Category: All (t ) Category: Market Report (t) Category: Market Report – close (t) Category: Pulses (t) Category: Market Pulse

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