The Ibex 35 saves the 11,100 points weighed down by Inditex and BBVA after their results

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The Ibex lost positions at this time of Monday (-0.48%, 11,100 points), after set new annual highs at the close of last week. Naturgy, Acciona and Acciona Energía lead the index. Unicaja has deflated after rising nearly 7% after tripling profits in the first quarteralthough it closed with increases of 2.3%. BBVA, which has also announced figures, is located at the other end of the Ibex (-0.77%) along with Rovi (-2.71%) and Inditex (-1.57%). The rest of the European stock markets have closed with somewhat calmer and mixed movements. And today has begun an atypical week since on Wednesday, May 1 is a holiday – Labor Day – and the squares of the Old Continent close. However, Wall Street will open and, not only that, but that day The conclusions of the two-day meeting of the Federal Reserve (Fed) will be knownfrom which no changes in interest rates are expected. As you know, the market now estimates that the first cut from the US central bank will come after the summer, although some Fed members like Kashkari have suggested the possibility of no cut this year. Also, this week will have an added holiday in Madrid, which could also have a certain impact on the operations of the Ibex. May 2 is the holiday of the Community of Madrid, and that means that many citizens take advantage of the week to take a long weekend and rest. However, this Monday and Tuesday there will be very relevant references before knowing the news from the Fed. Thus, as noted above, today BBVA has published results (earned 2.2 billion in the first quarter, 19% more) and tomorrow Santander will do it. Without a doubt, their accounts and the impact they have on the stock market will be decisive for the behavior of the Ibex. This Monday other companies have also announced, such as Sacyr or Línea Directa, while this Tuesday other very relevant figures will also be announced, such as those of CaixaBank, Aena or Metrovacesa, to name a few. Outside Spain, it has published results Philipswhich shoots up around 30% because it has taken the opportunity to announce that it has reached an agreement (will pay $1.1 billion) to close the respirator litigation in the US.
In United States, amazon will announce its accounts on Tuesday and Manzana, Thursday. Today it was news tesla, which rises sharply after China eliminated restrictions on its cars. On a business level, the week will also be marked by Puig's IPO in Spain on Friday.
Added to all this are very important macro references. This Monday the Preliminary CPI for April in Spain (it rises to 3.3% and the underlying falls to 2.9%) and tomorrow the GDP, also of our country, for the first quarter. Also pay attention to the PMIs for Tuesday in April in China and the CPI and GDP of the eurozone the same day. On Wednesday it is announced, together with the Fed, the employment data from the consulting firm ADP in the US and the manufacturing PMIs on the other side of the Atlantic, references that will be known on Thursday in Europe. And on Friday, Eurozone unemployment and US employment report.


The Ibex will know all these references with a very positive technical aspect after making a «fantastic figure» this past Friday, managing to close above the annual highs (11,139.9 points). «This is one new sign of strength which invites us to think about an extension of the rises until the 11,200 level points. If it manages to exceed these prices, the most normal thing is that we could end up seeing an attack on the 11,500 points«write the BitcoinDynamic analysts. «We could place the first level of support, after covering the bullish gap of the 23rd, in the 10,887 points. We will not appreciate even the slightest sign of weakness as long as it remains trading above this price level. Its technical aspect is unbeatable«.


The yen is sank to 160 yen per dollar this Monday, its weakest level since April 1990. After briefly marking the 160.03 yen level, has recovered to 156.5 against the dollar. According to 'Reuters', The Japanese authorities would have intervened to boost the currency.
Commercial sources have told the agency that they observed Japanese banks selling dollars for yen. Traders are on alert for any sign of action by Tokyo to support a currency that has fallen 11% against the dollar so far this yearsince even the Bank of Japan's exit from negative rates has failed to boost the currency.


Finally, it should be noted that the market has also been paying attention to Pedro Sánchez today who, finally, He said he was staying after taking five days to reflect on his future.


The euro is exchanged at 1.0716 dollars (+0.22%). Oil loses around 1.2%. Brent stands at $88.41 and WTI at $82.81. Gold is very flat (+0.07%, $2,348), as is silver (+0.02%, $27.54). Bitcoin falls to $62,900 and Ethereum to $3,180. The yield of the 10-year American bond falls to 4.634%.