The Ibex35 takes flight again

The Ibex35 takes flight again

Very favorable day for the domestic selective in the previous vote of the Brexit. After the corrections of the session yesterday, with the Nasdaq yielding more than 1%, the stock markets resume the bullish momentum of the last dates. It seems that we are entering again, as it happened a few years ago, in a market environment in which bad data at the macro level seem to spur the markets.

The reason is that the weak readings that we are witnessing in recent weeks, such as the cooling in the growth forecasts for China, somehow distance the hopes of a complete monetary normalization by the Central Banks.

Tomorrow we will have a very good opportunity to decipher the medium and long term of the monetary policies of the FED in its statement. Among all this, the presentation of business results is giving the Ibex35 a boost. The good results of Bankinter are joined by SiemensGamesa today. The wind turbine company returns to the benefits and increases its quotation in double digits after publishing its accounts. IAG rebounds above 3% supported by the fall of oil. Tomorrow we will know the Santander numbers. It will undoubtedly be a good thermometer to gauge the possibilities of the banking sector in the medium term.

Looking ahead to the next few days, once the Ibex35 has propped up the 9,100 points, we are betting on a gradual reduction of volatility to begin to see more ambitious levels in the national index.


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