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The Spanish stock market bounces in the opening before the advances in vaccination

Apr 21 (Reuters) – The Ibex-35 rose at Wednesday’s open, rebounding from the previous day’s slump, which had brought it below 8,500 points in the biggest daily drop in four months.

Other European stock markets also opened higher after suffering their worst day of the year as investors reaped profits after a rise to all-time highs, driven by technology stocks and, to some extent, by advances in the vaccination campaign.

The EMA’s decision to resume the deployment of the Johnson & Johnson vaccine stimulated hope for a somewhat less distant return to normality in Europe, to which was added the expectation of a new COVID-19 vaccine (CureVac ) in May and a general acceleration of the inoculation campaigns after the increase in shipments agreed with the pharmaceutical company Pfizer.

“An available single-dose vaccine such as Johnson & Johnson’s could clearly speed up the vaccination process, which would improve the prospects for global economic recovery,” analysts at broker IG said.

Still, the resurgence of coronavirus cases in some countries weighed on world markets and drove oil prices down on fears that energy demand would decline and global economic recovery would slow down.

This Wednesday, the focus is on the auction of US 20-year Treasury bonds, which will be an important indicator of global demand in fixed income markets.

In this context, at 07:39 GMT on Wednesday, the selective Spanish stock exchange Ibex-35 rose 80.60 points, or 0.95%, to 8,540.00 points, while the index of large European stocks FTSE Eurofirst 300 advanced 0.66%.

Among the stocks that made the best progress, IAG rose 2.89% and Aena gained 1% thanks to the prospect of a resumption of activity, while Amadeus IT advanced 1.67% and Caixabank increased 1.64% .

The oil company Repsol corrected the losses of the previous day with an increase of 1.47%.

At the other end of the table, Red Eléctrica fell 0.36%, Viscofan fell 0.08% and MERLIN Properties fell 0.07%.

In the banking sector, Santander rose 0.86%, BBVA scored 0.97%, Sabadell gained 1.31%, and Bankinter rose 1.03%.

Among the large non-financial securities, Telefónica registered 0.68%, Inditex advanced 0.86%, Iberdrola appreciated 0.39%, and Cellnex gained 1.46%.

(Information from Flora Gómez, edited by Tomás Cobos)

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