The IBEX 35 anticipates increases of 0.5% after the new extension to negotiate Brexit. Ursula von der Leyen, President of the European Commission, and Boris johnson, British Prime Minister, have chosen to continue talking after having a telephone conversation this Sunday, giving themselves another opportunity to close a pact.
In a joint statement, they indicated that they are willing to go "an extra mile"to try to close a deal.
"We have agreed to order the negotiators keep talking to explore whether, even at this late stage, it is possible to reach an agreement", they explained.
On Friday, the bags fell hard after the two leaders warned that it was most likely that there would be no agreement finally. The three points that prevent closing the negotiations are the competition rules, dispute arbitration mechanisms and access of the European fishing fleet to British waters.
OTHER KEY FACTORS FOR THE WEEK
In addition to Brexit, investors are on the lookout for other important factors. On coronavirus pandemic, Germany has approved a stricter lockdown until January 10, which includes the closure of shops and schools.
In the United States, Electoral College prepares for certify Joe Biden as president this Monday, after rejecting the Supreme Court the demands of Donald trump, who has yet to acknowledge his defeat. Also, Republicans and Democrats they continue to negotiate a new economic stimulus program without success.
Besides, the FDA (Food and Drug Administration) has approved the emergency use of the vaccine from Pfizer and BioNTech against the coronavirus, so the country will be able to start vaccinating in the coming days.
On the other hand, the supervisory board of the European Central Bank (ECB), composed of officials appointed by the ECB and the main national banking regulators, decide whether to lift the ban on banks to distribute dividends and how you get up in a meeting this week. JPMorgan anticipates "stricter restrictions" and a slow return on dividends for Spanish and European banks.
MORE IMPORTANT QUOTES
At the monetary level, this week comes the last meetings of the year of the Federal Reserve (Fed) and Bank of England (BoE). For the Fed, experts from Bank of America do not expect adjustments in asset purchase parameters. "The focus of the meeting will be the tone used by the US central bankas we expect it to leave asset purchases and rates unchanged. We believe that neither the economic nor financial conditions are serious enough to justify an additional relaxation of the policy at this time, "they indicate from the firm.
And economically, on Wednesday there will be PMI manufacturing and services in Europe and the Thursday the CPI of the euro zone will be known. On Friday, the climax will be the 'quadruple hour witch', the quarterly maturity of options and futures on stocks and indices.
In other markets, the Brent oil increased 0.7% to $ 50.35, while the euro it appreciates 0.25% and changes to $ 1.2141. Besides, the ounce of gold it falls 0.3% to $ 1,837. Finally, the profitability of the 10-year Spanish bond it remains at historical lows of 0.01%.
And on a technical level, the Ibex could be starting a profit taking that can be extended to the level of 7,835 points. If you lose this price level, we could end up seeing an extension of the falls to the level of the 7,400-7,200 points, where is the average of 200 sessions.
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