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The Ibex 35 is still stuck at 7,700 while waiting for the figures of the ‘big tech’

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The big tech accountsthat is, of the great American technology companies, start this Tuesday with the figures of Microsoft and Alphabet, and investors will remain very attentive to what they have to say. This will be one of the key quotes of the session, while, on a macro level, The German IFO for the month of October is published.

Also, today the results have already been known HSBC – profit before taxes for the third quarter falls 42% for the charge for the sale of the entity’s business in France and credit losses- and UBSprofit drops 24% in the quarter, but exceeds analysts’ expectations.

Investors will also be keeping an eye on the UK, where Rishi Sunak will be received by King Carlos III once he has become the winner of the ‘tory’ race to become prime minister. In his first speech, Sunak has promised «unity»but analysts fear that divisions in his own party will end up causing him to leave and history will repeat itself.

«Markets are hoping Rishi Sunak’s coronation will help end the events of the past few days as the newly elected PM warned his party to unite or die. This can be a difficult task, given the Tories’ propensity for fratricide over the years.says Michael Hewson, director of research at CMC Markets in London.

«Given recent events, old divisions are likely to reassert themselves in the coming daysas things calm down,» adds Hewson.

For the rest, the Asian stock markets are calmer today after what was seen yesterday, especially in Hong Kong, with a 6% crash after the conclusions of the XX Congress of the Chinese Communist Party, which raise doubts about the path that is going to take follow the economy. That peace of mind comes after Wall Street will close this Monday the session in green.

STILL WITHOUT POWER WITH THE 7,700

After attacking forcefully yesterday and exceeding the level of 7,700 points at different times of the day, the Ibex was not able (again) to close above these prices.

Even so, César Nuez, an analyst at Bolsamanía and head of Trader Watch, believes that the selective Spanish could extend the rises. «Exceeding 7,800 points would make us think of a continuation of its short-term climb to the level of 8,200 points, prices at where is the mean of 200 sessions«, Explain.

Below, at the support level, it would be in the 7,449 pointslows of last Friday.

OTHER MARKETS

The euro is exchanged at 0.9874 dollars (-0.01%). Oil barely moves at this time. Brent stands at $93.23 and West Texas at $84.62.

Gold is flat ($1,653) and silver is up slightly ($19.21).

Bitcoin falls almost negligible ($19,299) and Ethereum rises very slightly ($1,344).

The return on the 10-year US bond stands at 4.205%.

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