July 6, 2020

The Ibex35 is unmarked from the increases in Wall Street

The domestic selective closes the day with a bearish tone, in the environment of the half point of fall, in a session marked by the movements of government formation in Spain. At 2:00 pm we met the coalition pre-agreement between PSOE and United We can.

After reaching a price in the first moments of trading above Friday's closing levels, investors opt for caution in the face of the variable scenarios that the political agreements could generate in the coming days.

The Ibex35 stands out from the generalized increases in Europe penalized by uncertainty. It should be remembered that the national index has a highly banked composition.

At the corporate level, the falls in the banking sector stand out. Securities such as Bankia or Caixabank yield above 3%. Ence completes the podium of the most punished values ​​of the session before the possible punishment for the environmental impact of its pulp mills.

Looking forward to the next few days we expect the situation of historic highs on Wall Street, with the SP & 500 testing the 3100 points area, of some support for the Ibex35. As we learn the details of the possible new Government in Spain, we should witness a reduction in the prevailing volatility today and, therefore, resume the medium-term upward path in the Ibex35.

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