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The Ibex and the rest of Europe rise strongly due to the positive news about the vaccine

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The Ibex rises 1.8% this Thursday (7,122 points), in line with the increases in the rest of Europe, amid encouraging news about the Covid-19 vaccine. The US Centers for Disease Control and Prevention has asked states to prepare for the coronavirus vaccine to be ready for distribution on November 1. This date suggests that the government will finally 'use' this matter for its political ends, as the presidential elections are on November 3.

Any favorable news about the vaccine is the best catalyst for the bags, and today it is evident again. Otherwise, investors have the macro back in focus, with the services PMIs for August. In China, the index of purchasing service managers fell to 54.0 in August from 54.1 in July, as reported by Caixin and the research firm Markit. The consensus expected a figure of 50.4.

In Spain, the fall of the services sector to 47.7 in August "shatters" hopes of a speedy recovery in 'V', according to Markit. In the rest of Europe, PMIs have fallen compared to the previous month, with Italy (which has also entered contraction territory) and France (from 57.3 to 51.5) stand out.

In the French country it should be noted that the Government of Emmanuel Macron has made public the long-awaited € 100 billion stimulus plan the French president is counting on to transform the economy and his political fortune less than two years before the presidential elections.

In the United States, initial unemployment claims they have fallen to 881,000 from 1,011 million and have fallen below the 950,000 anticipated by the consensus. This is the best data for this indicator since the Covid-19 pandemic began.

Returning to the Ibex, it should be noted that banks are driving the hikes today in the same way that they penalized the selective in the past day. They are doing well too IAG, Mapfre or Telefónica. Virtually no stock on the selective is trading in the red now.

"To see a sign of strength in the Ibex we should wait at a close above 7,321 points, prices about 5% above current. Below, the support that we will not lose sight of is at 6,788 points ", underlines César Nuez, analyst at Bolsamanía and head of Trader Watch.

Finally, note that today we are talking about the disagreements between the EU and the United Kingdom. The EU's chief Brexit negotiator Michel Barnier has accused England of not participate constructively in negotiations about your future relationship, issuing one of its harshest warnings that the time to reach an agreement is running out.

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