The Ibex (+ 0.43%) recovers the 9,700 but loses 1.3% in the week

The supermarket chain ends with a strong rise a week very negative for the group. After marking a new historical minimum, the DIA titles recover to 2,158 euros without concrete news to justify this last rebound. Other values in green, although a long distance from DIA, were Ferrovial (+ 2.57%) or ACS (+ 1.98%).

In red, the most bearish value of the session was IAG (-2.47%) after presenting its quarterly results. The airline group earned 835 million in the first half, 24.8% more. In red, only four other values with losses lower than 0.2%.

In the Continuous Market, also a session of significant increases for Almirall (+ 7.62%) after announcing the purchase of Allergan from its portfolio of medical dermatology in the United States for a cash amount of 550 million dollars.

RESULTS IN THE COMMERCIAL WAR

The last day of this week closes with a new rebound in the commercial tensions between the United States and China. The Asian country has announced new tariffs on imports from the United States worth 60,000 million dollars.

In addition, this Friday has been known employment report for the month of July in the United States, which has shown that the country created less employment than expected but the unemployment rate fell to 3.9%. From the United States, another news is on the front pages today, and it is the fact that Apple has overcome the barrier of a stock market capitalization of a trillion dollars. The company rose during the last session by 3%, and closed at 207.39 dollars, after some good results.

Moreover, the decision of this Thursday of the Bank of England to raise interest rates to 0.75% from 0.5% continues despite the uncertainty that exists around the Brexit and its impact on the British economy.

On the other hand, in the calendar of the day, in addition to those of IAG, there are other results, such as those of Credit Agricole, RBS or Allianz.

TECHNICAL ANALYSIS

Despite the weekly fall that the Ibex 35 has accumulated, José María Rodríguez, technical analyst of ‘Bolsamanía’, believes that “nothing has really changed”. In his opinion, the only difference is that last Friday the Ibex closed relatively close to the top of the triangle and this closes something closer to supports than resistance. For now, the market is still waiting for the price to jump “on one side or on the other”, that is, to pierce the 9,500 points or jump above 10,000.

“The only thing to get hold of in the very short term is the possibility that banks continue to bounce in the next sessions/weeks,” says Rodriguez. In fact, the index that includes European banks, the Euro Stoxx Banks (SX7E) presents “a small figure of the back of bullish implications, which is a carbon copy of what Santander has”, explains the expert. “And if these are finally met, we can bet on a short-term recovery movement,” he adds, although he adds that the true signal of strength in the Ibex is to pulverize the 10,000 points.