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The Ibex and the rest of Europe decline as optimism moderates


The Ibex and the rest of European stock markets they are trading negative this Thursday (Ibex: -0.5%. 7,757 points; Cac: -0.7%; Dax: -0.5%) as optimism generated by the news about the Pfizer vaccine on Monday fades. On the other hand, stocks, including the Spanish index, they deserve a break after the steep climbs of the last few sessions. Within the selective, the falls in IAG, Repsol or banks, while PharmaMar reacts to the upside after suffering in the last three sessions.

"Now that it's been a couple of days and we've had more time to absorb the enormity of this week's announcement, we're starting to hear some more insightful voices speaking of the logistical difficulties involved in distributing this vaccine, as well as its long-term efficacy"explains Michael Hewson, chief analyst at CMC Markets in London.

"This would suggest that they are probably getting a lot of illusions about how quickly a new vaccine is likely to be distributed. In other words, investors run the risk of getting ahead, while risking a strong setback", Add.

Nor does the fact that Pfizer's CEO sell more than 60% of its shares the same day the news broke, pocketing millions.

At this time Europe is going back and American futures are trading mixed. For its part, Asia has lived a day with a clear predominance of the red numbers.

"(All these doubts) do not imply that we will not see a greater normalization if everything goes according to plan, however, for now, infection and hospitalization rates continue to increase, which means that the situation during the winter months is likely to get worse before improving", they warn from CMC Markets.

The President of the European Central Bank (ECB), Christine Lagarde, also poured a little cold water on that optimism this Wednesday linked to the vaccine, while saying the ECB remain prepared to do more in a context of continued resurgence of coronavirus cases across Europe, the United States and the United Kingdom. Lagarde will also speak this Thursday, along with other personalities, such as the Governor of the Bank of England, Andrew Bailey, as well as the chairman of the Federal Reserve (Fed), Jerome Powell, in the framework of the Annual Forum of the ECB, which this year is online.

Also on the day's agenda are the UK GDP, not forgetting the US CPI.

Regarding the technical aspect of the Ibex, the experts of Bolsamanía warn that you have to be very careful with a correction after the strong increases of more than 20% of the last days, and especially with the level of 7,675. "If it loses this level, we do not rule out ending up seeing a correction to at least 7,200 points, prices where the average of 200 sessions is found."

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