June 21, 2021

IBEX recovers lost ground after the elections


Fifth positive session for the selective Spanish. Today, the Ibex achieves more than half a percentage point, has closed above 9300 points and is placed at a level that was quoted days before the elections. Our selective is attacking the 9300 this week and is prepared to continue positively until the end of the week, for this it will be essential to break the 9325 points clearly, assuming that there is no relevant event that causes volatility.

The markets are waiting for the Christmas rally, so far it is in the air and we will have to wait for a new rapprochement between the United States and China. According to Kellyanne Conway, President Trump wants an agreement between the two powers. The negotiations are at the end of an agreement on the first phase of their trade negotiations. EE data has been published in the last hour. The United States, in general, has been indicative of a fairly healthy economy, with the latest growth and consumer spending figures exceeding the previous ones.

At the corporate level, we can highlight three positive values ​​in our index. Indra continues its bullish rally, scoring almost 3% today and accumulating 47% from the minimum seen in August at € 6.60 per share, Caixabank revalued more than one and a half percent after knowing that it will sign an agreement With Fnac in Portugal to offer consumer finance services, finally, MásMovil today presents a 2% revaluation after bouncing off the key support of € 18.75 yesterday. In the negative section we have Arcellor Mittal with a fall of 1.60% which we are more than accustomed by the volatility that is presenting the last months.

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