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Radiography of the Ibex 35, how has it changed with the Russian war?

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Radiography of the Ibex, how has it changed with the Russian war?

IBEX 35 It moves in an intermediate zone with respect to how the rest of the European indicators reflect the war on the stock market. While the Dax Xetra, the CAC40 or the Mibtel, reflect the devastating effects in double digits to the decline that their companies experience due to energy dependence on Russia, our selective is placed in the intermediate zone with falls of 6.56% so far this year, closing the 15th day of Russia’s war against Ukraine. The best European, not community, is the Footsie, which yields 3.10% so far this year.

Thus, the Spanish selective shows a great week in which it recovers part of the lost ground with advances of 5.46%, and the month, however, yields 7.5% with tighter cuts, of 2.61% in the quarter and year-on-year which exceeds 5.8%. Since the war began the Ibex35 falls and 3.5%

Ibex annual price of the indicator

Ibex annual price of the indicator

But perhaps the most significant thing is how the dynamics of values ​​and their behavior have been wiped clean by the initial impact of the war. Analysts expected a relatively short impact, but in the face of what is expected to be a protracted conflict, the landscape has changed.

Thus we see that, with the surprise implemented by the ECB, on account of reducing debt purchases and forgetting for the moment about rates to control the present unleashed inflation, and what is worse, that expected in the coming months due to the rise in the increased crude oil and gas above all, some banks, case of the Sabadell Bank is bench between and above all of cash bank the Top2 that shines again after its strong falls since February 10.

Also the renewables that have ceased to be the renewed ugly duckling after a very negative 2021: the search for alternative energy sources accelerated by the european commission added investments to move away as soon as possible from dependence on Russian oil has erased Solarium of the last positions of the Ibex, to place it in the first line, with annual increases that already exceed 21.4% as leader of the selective.

Another big winner on account of the increase to 131 dollars that we have come to see last day 7 in brent oil is Repsolthat it improves positions with already important advances, of 14.5%, clearly beating the Ibex.

However, there are few securities that have maintained profits so far this year in the selective. To those already named is added Melia Hotels with a tourism sector that was already waiting for the budding recovery and that for the moment also reflects the uncertainty and volatility that has settled in the market. They recover positions Almirall and Telephone that returns to positive ground and PharmaMarthat resurface after setting lows for the year.

On the negative side, it remains Fluidra as the worst in what we have been exercising, with a CIE Automotive you index heavily penalized. The first due to the pernicious effect on the manufacture of automobile components that it builds from the rise in raw materials, some, such as nickel, in which Russia is the third largest producer in the world.

In the case of Inditex the closure of its 502 stores in Russia is a setback in what is its second market in number of stores, with about 10% of the ventsalong with the closure of the 72 stores in the Ukraine and the 12 in Belarus.

For Néstor Borrás, independent analyst the Ibex 35” manages to rebound from the long-term bullish guideline in fuchsia color and is confident above the affected support area around 7.713 / 7.7663 points. The next support is located at the lows of MAR 7 at 7,287 points, and then the long-term support at 6,329 points. To have any positive symptoms, it is necessary to violate the previous lower maximum of the short-term downtrend, lot 8,510. The next moving resistances will be the medium and long-term simple averages and the relevant level of 8,912 points”.

Ibex 35 on daily chart with Average amplitude range in percentage, Stochastic oscillator and trading volume

Ibex indicator technical analysis

Ibex indicator technical analysis

The technical indicators elaborated by Investment Strategies present us with an Ibex in bearish mode with a reduced note of 1.5 points out of 10 possible for the value. With medium and long-term downtrend, slow and fast negative total momentum, long-term declining turnover and range of increasing amplitude in the medium term. Only on the positive side do we find a Volume of business that is growing in the medium term and the volatility that is decreasing in the long term.

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