The IBEX 35 it advanced slightly by 0.3%, to 8,895 points, after the respite on Monday and the gains of 2.3% registered in the first week of August. The gold, silver, oil or cryptocurrencies they take center stage in the weekly start, especially precious metals, which suffered an express collapse in the Asian session and later recovered; or oil, which fell to its lowest since July. This Tuesday, they are positive, despite Julius Baer's analysts' warnings that now is not the time to buy safe haven assetsas the global recovery will continue its course.
The titles that have risen the most have been ArcelorMittal, Cellnex, Acciona, Repsol and BBVA; the values that have decreased the most have been Fluidra, Amadeus and PharmaMar.
About Acciona, Bolsamanía has published that several foreign analysts they have published very positive evaluations of their renewable energy subsidiary, Acciona Energy. Without going further, JP Morgan has started hedging the value with a council of overweight and a target price of 35 euros per share.
In any case, the Ibex holds above 8,855 points, resistance that beat last Friday and "an important sign of strength in the very short term," says José María Rodríguez, an analyst at Bolsamanía. "At this point the following resistances are found in the successive decreasing highs that the price has been drawing during the corrective phase: the 8,968 points, the 9,100 and the annual maximums in the 9,310”He adds.
The expert underlines that the weakness of our selective with respect to our European neighbors is a fact. And proof of this is that while the Ibex is still trading at 5% of the highs for the year, the rest are attacking them at the moment. Even the Dax is close to hitting new all-time highs.
Regarding raw materials, oil rises almost 3% on average from one-month lows, gold also advanced 0.1% and silver did 0.5%. The blame for short-term weakness is to be found in “concern for the increased cases of Delta variant both in China and the US, which has been a brake on demand, "says Michael Hewson, head of analysis at CMC Markets.
China It is especially worrisome given the disruption caused by recent floods in some areas of the country, which appear to be making it difficult to contain new outbreaks of the virus, while cases in the US have risen to a maximum of six months.
The Asian markets have had an equally calm session, with moderate falls in mainland Chinese stocks, modest gains for Hong Kong's hang Seng, while the Japanese indices ended the day flat on their first day of trading this week.
On the economic agenda, the latest survey of economic expectations of the German ZEW for August it was well below expectations, which indicates that the advance of the Delta variant is affecting institutional investor confidence.
Petroleum West texas: + 3% up to $ 68.56
Petroleum Brent: + 2.8% up to $ 70.90
Ounce of gold: + 0.1% to $ 1,728
Ounce of silver: + 0.5% to $ 23.38
Euro / dollar: down 0.1% to $ 1.1722
Bitcoin: -2% up to $ 45,250