Today all eyes will once again be on Santander Bank (+1.94%), after leak by Financial Times (FT) linking UK headquarters to Iran for cross-border transactions, a situation that caused a correction in the Spanish index on Monday. However, pending further news on this matter, yesterday the price partially recovered the lost ground, rising above 3.74 euros.although it continues to be in a corrective phase since November last year.
He Capricorn 35 (+0.62%) closed above 10,000 points due to improved performance of the banking sectorbut the Spanish stock market is still unable to consolidate at 10,180-10,200 points, a key resistance preventing the rise from continuing to the highs of last November, so it has continued to record declining highs in recent months.
BBVA (+1.72%) set new annual highs, breaking through the level of 9.00 euros per share, after becoming “strong” around 8.00 euros, the first important support for the Spanish bank. We will now see demand expansion potential after six growth sessions.
Acerinox (+4.62%) continued the positive trend after the announcement of the purchase of the American company Haynes. For this reason, demand managed to break through the December highs, ccurrently trading at 10.50 euros and targeting May 2022 resistance levels.when the metallurgical company left a maximum of 10.75 euros.
Ena (+3.89%) managed to reach new highs for the year, breaking through 170.0 euros after support at 160 euros at the beginning of the year. The airport manager is therefore one step away from breaking the June 2019 high, located just above EUR 174.0.
Yesterday afternoon Some FOMC members have made statements regarding interest rate cuts. On the one side, Harker said that “he believes a soft landing of the US economy is feasible”, while Owner or Kashkari After Powell’s speech, they said that “inflation has not been defeated and they are not setting a date for lowering interest rates.”
Problems continue in American regional banksWith New York Community Bank (NYCB) fell another -25% yesterday, accumulating declines of more than -70% from its highest level, just as the Federal Reserve’s emergency lending program nears its end in March. potentially creating greater tension in the regional banking market and, above all, putting pressure on the Federal Reserve and the US Treasury so that new chain bankruptcies do not occur.
Finally, today we will have current macroeconomic data, among which we will highlight:
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To illustrate how to proceed in the example, we are going to use Ibex 35. At IG we were able to trade this market using CFDs, Barriers, Vanilla Options and Turbo24. We are going to choose the latter as an example as it is a product listed on the 24/7 market, allowing us to tailor the leverage of our operations and cover market gaps, with a minimum purchase of Turbo24 (equivalent to up to €0.01 per point).
If the first scenario is confirmed and decided to enter a bullish position, we would buy 100 long Turbo24 (1 euro per point). Let’s imagine that Ibex 35 is trading, for example, at 10,100 points. We could set the exit or knockout level (guaranteed stop) at 9984.6 points. If at that time the price of Turbo24 is 1068 euros, the requested guarantee (reward) will be 106.80 euros (100 Turbo24 x 1068 euros for each Turbo24). The leverage of this operation will be 95 times. Moreover, it has the advantage that if there is an increase in volatility when the market closes, causing us to be knocked out, the operation is not closed.
If the second scenario is confirmed and it was decided to enter a bearish position, we would buy 100 short Turbo24 at the Ibex 35 price of 10,000 points. We could set the knockout level to, for example, 10,157.2 points, with a Turbo24 price of 1,470 euros, the requested guarantee (reward) would be 147.0 euros (100 Turbo24 x 1,470 euros for each Turbo24). The leverage of this operation will be 69 times.maintaining all the benefits described above and protection from negative balance in the event of a bearish market gap.
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