July 4, 2020

Inditex slows the Ibex35 rally, which falls 0.28%

Global stock markets bounce strongly in the antechamber of tomorrow's ECB meeting. Markets are starting to price the more than probable movements of the European Central Bank that, although a priori would have a limited impact, would once again cement a market environment marked by ultra-expansive monetary policies.
Aggressive advertisements related to reductions in the price of money via interest rates are practically ruled out. However, the fact that bank deposit facilities are penalized or the growing expectation of resumption of debt purchases through QE makes investors clearly bet again on risk assets.
At the business level, Inditex results stand out. Despite being punished with a 3% drop in today's session, it should be remembered that this type of volatility usually occurs in days of presentation of accounts, the results of the textile giant can be considered as good, with increases in both profits and Sales in the first half. Siemens Gamesa leads the increases in the selective after announcing the IPO of its energy business.
Meanwhile, the Ibex35 closes almost flat to take hold above 9000 points. The decisions that we will know tomorrow by the ECB will undoubtedly be a catalyst for a selective that could reach the resistance of 9,300 points as an objective for the next sessions.

(tagsToTranslate) francisco sanchez-matamoros

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