The Ibex 35 has continued to dig deeper and is already at 2016 lows, although yesterday closed with a slight rise of 0.24% to 8,923.7 basis points, with an absolute protagonist for the bad: Dia whose titles plummeted 42.2% after lowering their profit forecasts and suspending next year's dividend. In addition to having accelerated the departure of her until today president, Ana María Llopis who will continue as a counselor until December 31 of this year. All this, with an Ibex 35 that se moves away from 9,000 points in spite of the resistance, and which seems to have no land, while the Spanish risk premiums are around 120 and the Italian is consolidated above 300 points. What can we expect in the coming days of the selective?
Amo (IEB) believes that we are facing "an accumulation of circumstances" from the new expansive government budgetsin which it is doubtful that the increases in taxes on higher incomes translate into higher income through Italy – "it is a very strong country in the community environment and then Spanish banks representing up to 35% of the Ibex 35 have many bonds Italians "- together with Bréxit or the trade war between China and the United States. «Everything there is negative: There is no tailwind that makes it appropriate to take an offer of shares », said this expert in reference to the delay of the Cepsa IPO with which the session on Monday was opened.
However, the IEB expert has shown «Optimistic in the medium term» since Spanish banks are still "at post-crisis levels" and their weight in the Ibex 35% is strong. In this sense, Amo commented, "the moment the ECB stops putting liquidity and the rates rise, banks that move by margins and commissions will pull up". In his opinion, Spanish financial institutions are making «A marathon with a pierna, the commissions, and this has to make it go up ». Now, the specialist has pointed out, this would take place towards the first half of next year.
The Ibex 35, "penalized?" Of more
In what coincide Javier Amo (IEB) and Angel Pérez, Renta 4, is that in this Ibex 35 in 2016 minimums is also extended the shadow of the growing crisis with Saudi Arabia after the disappearance of a well-known journalists and the threat of sanctions, which according to the oil monarchy would generate retaliation at the height of the challenge. Similarly, the second analyst mentions the trade war and the recent warning of the International Monetary Fund (IMF) in this regard. Without forgetting Italy or Germany with the recent results in Bavaria, of course. «The quotes of the indexes are now collecting the forecast cut of this organism », explained this expert.
«Everything is a matter of uncertainty: the investor seeks security and allthese events do not want to play many and they sell or wait outside, "says Pérez, who adds to all the above the exposure to emerging markets such as Turkey or Latin American economies among the factors that would be affecting heavy bearers of the Ibex 35 like BBVA. In any case, for this expert our selective "Is more penalized than other indices". A selective company in which 67.8% of its weight is made up of securities such as Telefónica, Inditex, Santander, BBVA, Iberdrola, Repsol and CaixaBank. Despite the good behavior of other values such as Viscofán or Grifols.