Our selective starts the year with old vices of the past. We have lived a tremendously volatile, in a round trip session in which we have gone from less to more. After starting the day with a sharp fall we managed to recover all the lost ground at the end of it, managing to finish planes after falling more than 2% at the beginning.
We started the week away from the lows of the pass and saved a level that is presumed key, such as 8,500 points, to think about an early recovery. This first session of the year, with a final increase of 0.12% gives us clues as to what this 2019 may trigger, where high volatility is expected and where the year may be clearly good for equities, and be able to take advantage of the cuts to weigh the bullish positions, in assets that enjoy a discount attractive.
At the corporate level, we again highlight the good behavior of the sector utilities that continues its bullish path and continues to awaken the clear investor interest. The other side of the coin is Arcelor, with a fall of more than 4%, caused by the great uncertainties that the company arouses with its restructuring and the external vacillations caused by the commercial tension and the brake in the manufacturing sector.
Jorge López, analyst at XTB