Saturday, August 13

Solaria stands out in an Ibex 35 that looks at 8,400 points

The European stock markets open the session positively. The DAX opens with increases of 1.68% at 15,748.00 points, the CAC 40 advances 1.62% at 7,039.50, the FTSE 100 adds 0.36% at 7,202.20 and the Italian stock market it rises 0.72%. For its part, the Euro Stoxx 50 rose 1.42% to 4,221.00. The IBEX 35 scores 1.3% over the 8,380 points.

At what levels will the Ibex 35 go ​​today?

On a technical level, Diego Morín, an IG analyst, acknowledges that the Spanish index pierced the week’s lows yesterday as the close of the session approached, especially after again encountering resistance at 8,400 points, dragged down by sales in the companies with the greatest weight of the selective. Nevertheless, the reassuring message from the Fed could throw the Ibex into resistance zones and thus break the short-term bearish guideline. However, “the supply continues to be strong around the highs of the week, nullifying any attempt by buyers to move away from the lows, which could force the Spanish index to test again the lows of the week, which are they are already around 8,268 points “.

Finally, yesIf demand becomes “strong” above 8425 points, it could cause a rebound towards a first important level, which is located around 8500 points, with the possibility of continuing towards 8,580 points if purchases exceed these levels with capacity, therefore, we will have to monitor the volumes developed around 8,350 points.

Among the values ​​that rose the most at the opening is Solaria, which scores more than 8% and opens at 16.53 euros. It does so after receiving a recommendation upgrade from RBC, which raises its recommendation to “same as the industry” with a target price of 18 euros while Credit Suisse sets a target price of 21 euros when initiating hedging on the security with “Overweight”.

Siemens-Gamesa shares rose sharply, rising more than 3.5%, and ArcelorMittal and Indra, which raised their share price at the opening by just over two percentage points. +

Bank shares rise. Caixabank rises 1.3%, to 2.3170 euros; Banco Sabadell rises slightly more than 1.2%, Santander opens at 2.6880 euros after registering increases of 1.1% while BBVA rises 0.6% and marks its first listed price at 5.1320 euros,

In negative only one value, Telefonica. The operator leaves 0.10% and opens at 3.8315 euros. Viscofan remains flat above 55.85 euros, while Enagás or MERLIN Properties are the securities that registered a less pronounced rise at the opening.

CIE Automotive rises 0.9% in the Ibex 35 after announcing that it will pay a dividend of 0.36 euros gross per share on January 5. As the company explains to the CNMV, the payment of the dividend will be effective on January 5, 2022, in accordance with the provisions in force for depository entities, using the means that IBERCLEAR makes available.

In the continuous market, increases of more than 6% for Berkeley and 4% for Airtificial that contrast with the falls suffered by the shares of Vocento, which lost more than 2%, or Renta Corporación, which opens at 1.8350 euros after leaving just over 1.6%,

After Powell’s words yesterday, in which he warned that the risk of inflation was more persistent than initially expected, which led him to justify the acceleration of the rate of tapering to 30,000 million dollars a month with up to three rate hikes in 2022 , today it is the turn of the ECB. Although no changes in interest rates are expected, the market awaits Christine Lagarde’s words at a time when inflation is peaking in many economies in the Euro Zone and with the omicron variant generating new restrictions on the mobility, which could impact your economic forecasts.

In all probability the European Central Bank will take a new step in reducing stimuli, while committing to continue supporting the financial system next year, standing firm in its view that the alarming inflation will come down on its own.

Mixed sign in Asia despite rises on Wall Street

Mixed sign today in the main Asian indices. The Nikkei rose 2.1%, Hong Kong’s Hang Seng fell 0.4% and the Shanghai Composite gained 0.5%. In Japan, Exports accelerated in November as supply constraints from the country’s large automakers eased slightly, although imports reached a record due to rising material costs, which could hurt household consumption

As to Wall Street, the market ended yesterday in the green. The closings of the S&P 500 (1.6%), Nasdaq (2.1%) and Dow Jones (1.08%) stand out. And the fact is that the macro and rate scenario proposed yesterday by the Fed: economic growth in 2022 of 4% and inflation of 2.7% with official rates that will not reach 1% at the end of the year-, “continues to be positive for equities, being this asset the only investment alternative that currently offers attractive potential returns ”, acknowledge Link Securities analysts.

And it is that, after the decision of the FED yesterday and waiting for the European central banks, In fixed income, few variations are observed in its profitability at the beginning of the session. Thus, in the Eurozone, the IRR of the Spanish and German 10-year bonds rose 0.1 bp to 0.350% and -0.359%, respectively, while that of the Italian 10-year bond fell 0.4 bp to 0.915 % In the US, the 10-year Treasury yield stands at 1.451% (-0.5 bp).

Oil prices rise as implicit demand for oil by American consumers hit a record in the world’s top oil consumer, even as the omicron variant of the coronavirus threatens to reduce oil consumption globally. At this time, the future on the West Texas Barrel is 1.21%, up to 71.75 dollars while the Brent climbs slightly more than one percentage point, over 74.68 dollars.

In the currency market, the Euro climbs positions against the dollar, up to 1.1305 units while the Bitcoin advances almost 2% and settles on the 48,910 dollars.

In turn, gold starts today’s session higher although it remains below the level of $ 1,800 per ounce.

At the macro level, the day’s schedule is very intense, especially highlighting the publication in the Eurozone, its two main economies: Germany and France, the United Kingdom and the United States of the preliminary readings for the month of December of the leading activity indices of the manufacturing and services sectors, the PMIs prepared by the IHS Markit consultancy. Indicators that will help investors get a clearer idea of ​​the strength with which the main economies are facing the final phase of the year.

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