Bearish day that we have lived today in our selective, where we had a first stage of the bullish session, reaching to attack the area of highs of the day on Wednesday. Although as the session progressed we have been losing strength closing the day in the area of minimum and losing 9,000 points, but not in a way strong enough to see the rise in risk that the index projects since the beginning of the year.
The big problem that has been found in the day of Thursday Europe has been the advance of GDP within Italy, which produces a second negative GDP for the second consecutive quarter and causes a "technical recession" in the transalpine country. This circumstance has caused difficulties for the European indices and also for the single currency.
At the corporate level we highlight the bad performance of banking within our selective, caused by the economic tension, previously mentioned in Italy, which has wreaked havoc in its banking and has infected ours, with falls of more than 2% within the different entities that make up this sector. On the positive side we mean the good performance of Cellnex, thanks to its excellent technical performance, supported by a fundamental solid with the expansion of its business volume and the increase of its profits.
Jorge López, analyst at XTB