He IBEX 35 it rises 1.3%, to 7,043 points, driven by the rebound of banks and the values of the tourism sector. The European stock markets rise much less due to the tensions between China and the US due to the technological war between the two powers. The trading floors of the Old Continent will try to shake off these events, as well as the legislative conflict that is brewing in Washington, after the executive orders of the US President, Donald Trump, to expand aid against the pandemic.
The four decrees contemplate an additional benefit to the unemployed, a delay in the payment of payroll taxes, a moratorium on the repayment of student loans and a freeze on evictions from federal housing. However, the Democrats question the constitutionality of such action.
At the business level, Banco Sabadell and Caixabank are the values that increased the most on the Ibex, with increases of more than 3%, like the rest of the selective banks, they pull the car in this weekly start. Meliá also shoots up 3%. On the negative side, Cellnex, grifols and Endesa left 0.5% on average.
In the Continuous Market, the strong gains of Liberbank, which shoots up 15% and extends the strong rally after Bank of America entered its capital. Also, Unicaja it advances 6% as one of the candidates to merge with the Asturian bank.
This week some results are still waiting, such as Aramco, which earned 73% less between April and June, but he already sees signs of recovery. In Spain, investors will continue to pay close attention to the Ibex majors, such as Telefónica and BBVA, and to tourist stocks, which experienced great volatility last week. In any case, "our selective cannot, it has no strength. And what is worse, less and less," says José María Rodriguez, an analyst at Bolsamanía.
"While we have many peso indices such as the Dax and S&P 500 near annual (and historical) highs we have bounced, to the tick, to the 50% adjustment / retracement of the previous decline and from there we are deflating", he continues. The bank is being the main culprit of the last corrective stretch" and we already know that without them we cannot get very far, "says the expert.
"The perforation of the short-term support that we had at 7,060 points (now resistance) has done damage and if nothing remedies it, we cannot rule out a return to the annual lows at 5,814 points," he adds. "From the highs of the rebound (8,000) we find ourselves building decreasing highs and lows. And so it doesn't go up."
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