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The Ibex closes 2019 with increases of 11.8%, well below the rest of the exchanges



The government program announced Monday by PSOE and Podemos It has tipped the Ibex at the close of 2019. The selective has finished this last session of the year with falls of 0.66% and far from the maximum, which were 9,700 points (9,549 points). Endesa, Viscofan, Naturgy or Telefónica have been among the worst titles of the day, while on the positive side they have highlighted MásMóvil, Mediaset or ACS. The Spanish selective has finally ended this year with increases of 11.8%, far behind the increases of 25% of other European places. In the end, 2019 has been lazy for the Ibex and 2020 promises to be too. Experts anticipate that political uncertainty, which has penalized him this year, will also do so next year, and they predict very limited increases for the Spanish index.

"The presentation of the government program has not sat well with the market. Emphasize that some of the measures announced directly affect listed sectors / companies, as well as the market as a whole, increasing the cost of hiring, among other aspects. Being now much simpler than a few years ago for the private investor to choose to invest in other markets, both directly and through different types of funds, it is possible that the aforementioned measures end up conditioning the behavior and activity of the Spanish stock market, something that will be seen if this is the case over time, "Link Securities experts explain in their daily report.

2019 has been marked by two main issues: United States and China and Brexit. The year ends with both practically 'closed', but this does not mean that these issues will not be very present next year.

According to the latest information, The US and China will sign their 'first phase' agreement next week. However, analysts warn that they have much to discuss in 2020 to close a final agreement, something they do not see at all done.

The other big issue has been the United Kingdom and its exit from the EU. Finally, the triumph of Boris Johnson has unlocked the situation, but experts warn that The deadline for negotiating a trade agreement with Europe (until December 2020) is very limited and they do not rule out that finally the United Kingdom ends up leaving the block without a pact, that is, a hard Brexit, which would not like anything to the market.

Thus, next year will also bring uncertainties, but most investment firms agree that there is a key aspect, an element that will be decisive in 2020, and is none other than the November presidential elections in the US. With Donald Trump seeking to be re-elected, the predictable thing is that everything tries to 'hold on' so that it goes well. That is, the president of the United States will try to avoid unpleasant situations (including falls in the stock exchanges) to present a scenario that facilitates his re-election.


And, in the midst of all this, the year ends with a story that is going around the world. The former president of Nissan, Carlos Ghosn, has escaped. Ghosn, who was waiting to be tried in Japan, confirmed on Tuesday that he has left the country and is in Lebanon.

"Now I am in Lebanon and I will no longer be held hostage by a manipulated Japanese justice system in which guilt is presumed, discrimination is rampant and basic human rights are denied, in flagrant disregard of Japan's legal obligations under international law and the treaties it is bound to respect, "Ghosn said in a statement .

With regard to macro data, few developments today beyond the Chinese manufacturing activity, which slightly exceeded expectations by reaching 50.2 in December. Economists expected a figure of 50.1. Finally, remember that today Wall Street operates at its normal time. Tomorrow will close all places for New Year.

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