The Ibex-35 closes flat in a breakthrough session in Europe

The Ibex-35 closes flat in a breakthrough session in Europe

The selective Spanish moved all day in a narrow margin and was the one that had worse behavior in the old continent

  The Ibex-35 has been hesitating between the red and green numbers throughout the session. The indicator has moved in a fairly narrow range: the highs marked them shortly after starting the day and early afternoon in the vicinity of 9,010 points, while the minimum marked them in the vicinity of the 8,960 points to the one p.m. At closing it gave a final change at 8,982.4 points, which means a minimum cut of 0.01%.

  The Spanish selective was the one of worse behavior of Europe, only behind the PSI-20 of Lisbon, that finished with losses superiors to 1%. Perhaps what has held back the domestic index has been that the 9,000 points are exerting resistance. It has also affected him that Parliament has not finally approved the budgets of the Government of Pedro Sánchez and this has raised the probability of early elections, which increases the uncertainty.

To all these factors we must add the bad behavior of some of the great values. Thus, the worst value of the day was Naturgy, which fell by 2.39%, followed by BBVA, which left 1.92%. In addition, Iberdrola fell 0.47%, and Inditex was down 0.20%.

On the downside, other utilities closed, such as Red Eléctrica and Enagás, which were down 1.64% and 1.18%, respectively. Acciona and Endesa fell by around one percentage point. Is the increase in the probability of general elections next spring going down in the most regulated sectors?

Losses also for other banks in addition to BBVA: Bankinter was left a little more than half a percentage point, while Bankia lost 0.43%, and CaixaBank, 0.14%.

The cyclical values, better
In green, ArcelorMittal and Acerinox were the values ​​that rose the most, with gains of 3.75% and 2.93%, respectively. Sabadell also added more than two percentage points.

Perhaps behind this different behavior between defensive values ​​(downwards) and cyclicals (upwards) are the highest hopes that there will be a commercial agreement.

The best indicator of the Old Continent was the Ftse Mib of Milan, which scored around 0.93%, while the British Ftse 100 advanced around 0.80%. The German Dax and the French Cac 40 totaled around 0.35%.

Good results, in general, on the European Stock Exchange, despite the macro data that were published in the morning according to which industrial production is falling in the euro zone at its fastest pace since the financial crisis. Industrial production in the euro zone fell at an annual rate of 4.2% in December, when a contraction of 3.3% was expected.

Good symptoms of Trump
On Wall Street, indices moved higher. At the close of the European session, the Dow Jones gained 0.45%, while the S & P 500 scored 0.50% and the Nasdaq advanced 0.25%. Although after Republican senator Marco Rubio announced a proposal to establish a tax on share repurchases and thus do not have a favorable treatment on dividends, the increases of the American indices were a bit down. Rubio seeks to discourage purchases of shares to encourage productive investment.

Behind the promotions in the American market is that the president of the United States, Donald Trump, has shown a more conciliatory position towards China, which suggests the possibility of progress in trade negotiations. Also, Trump also seems inclined to accept the agreement that Republicans and Democrats have reached on the border with Mexico to avoid a new closure of the Administration.

In the American macro agenda we have the publication of the CPI for January, which rose at an inter-annual rate of 1.6%, three tenths less than in December of last year and one tenth more than expected. Core inflation, which does not take into account its most volatile elements, fuels and food, stood at 2.2% year-on-year, repeating the figure for the previous month, and one tenth higher than expected.

In the bond market, stability for the American: the profitability of ten years remained at the doors of 2.70%.

In Europe, the interest of the German ten-year bond remained at 0.12%.

On the downside the yield of the Italian title was moving: it fell from 2.84% to 2.78%.

The interest of the Spanish bond, despite the increase in the probability of early general elections, remained unchanged at 1.23% and the risk premium, around 110 basis points.

In the currency market, the euro again lost ground against the greenback: the community currency lost around 0.35%, to the level of 1.1285 units.

 In the commodities market, the Brent barrel, a benchmark in Europe, advanced 2.18% at the end of the session, to 63.78 dollars. The West Texas, reference in the United States, was targeted by 2.28%, up to 54.31 dollars. This, after Saudi Arabia was in favor of deepening production cuts.