Sun. Apr 21st, 2019

The Ibex consolidates the 9,400 points in a day marked by the extension of the Brexit

El Ibex consolida los 9.400 puntos en una jornada marcada por la prórroga del Brexit

The IBEX 35 has closed the session on Thursday with a rise of 0.41%, which has led the selective to be in the entire 9,445.4, in a day still marked by the agreement reached yesterday between the European Union and the United Kingdom to extend four months the Brexit, until October 31.

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In the opinion of XTB analyst Joaquín Robles, the situation of the Brexit continues "totally stagnant", since it considers that the biggest inconvenience of this new postponement is the elections to the European Parliament, which will take place in May.

"The United Kingdom has declared that it is committed to participate in the elections. In the event that she changes her mind, she would be forced to leave the European Union without agreement on June 1, "explained Robles.

In this sense, it poses two scenarios. The first is that of a soft Brexit, in which the United Kingdom would continue within the European customs union, so it could not negotiate unilateral agreements with third parties, while if it maintained the free movement of people from within the Union it would have to continue contributing money. "This would be an exit that practically would not change his current participation", said the expert.

On the contrary, the possibility of a hard Brexit is the one that would generate greater volatility and uncertainty, due to the fact that new agreements would have to be negotiated, especially regarding the circulation of people and goods. "This scenario is the most negative for the stock markets and the one that could further worsen the economic outlook," remarked Robles.

The meeting of the European Central Bank (ECB) took place yesterday and it was learned that the Federal Reserve of the United States (Fed) does not rule out lowering the interest rates during 2019, after having increased them four times in 2018.

The biggest falls were presented by Siemens Gamesa (-2.56%), Enagás (-1.31%), Iberdrola (-1.25%), Endesa (-1.22%), Amadeus (-1.13%). ) and Repsol (-1.11%), while in positive territory IAG (+ 5.85%), Meliá (+ 3.71%), Banco Sabadell (+ 3.54%), ACS (+ 2.68%) and Banco Santander (+ 2.42%).

Regarding the rest of European places, the Paris Stock Exchange closed with gains of 0.66% and Frankfurt of 0.26%, while that of London registered a practically flat behavior (-0.03%).

On the other hand, the price of a barrel of Brent quality oil, a benchmark for the Old Continent, stood at 70.97 dollars, while Texas was placed at 63.51 dollars.

Lastly, the price of the euro against the dollar amounted to 1,1265 'greenbacks', while the Spanish risk premium stood at 101 basis points, with the interest charged on the 10-year bond at 1%.

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