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The Spanish stock market falls as a precaution against the impact of the virus in Europe

Apr 9 (Reuters) – The Spanish stock market started the session on Friday with a slight setback, in a climate of caution due to the numerous uncertainties about the direction of the pandemic and the economy in Europe, as well as the risks of inflation due to the massive stimulus injections from the monetary and fiscal authorities.

Concerns about the rate of vaccination against COVID-19 in Europe remain in the foreground, as highlighted by the ECB minutes published on Thursday, as this situation “could lead to a delay in economic recovery, with the risk of that the weakness continues beyond the first quarter of 2021, “said the Spanish brokerage Renta 4 in its daily report.

However, the highest monetary institution in Europe maintained confidence in a recovery in the medium term, with the impulse of fiscal stimulus plans around the world and progress in vaccination campaigns, as added in Renta 4.

Likewise, the Federal Reserve brought reassurance to the debt markets after insisting that it is not contemplating a withdrawal of its stimulus and that it expects any spike in inflation to be temporary.

In this sense, investors will be awaiting the publication this Friday of the US producer prices for March.

At 07:14 GMT on Friday, the selective Spanish stock exchange Ibex-35 fell 22.90 points, or 0.27%, to 8,614.90 points, while the index of large European stocks FTSE Eurofirst 300 fell 0.17 %.

In the whole of the week, the Ibex-35 accumulated a rise of 0.43%.

In the banking sector, Santander rose 0.50%, BBVA fell 0.03%, Caixabank advanced 0.19%, Sabadell gained 0.07%, and Bankinter fell 0.14%.

Among the large non-financial securities, Telefónica recorded 0.45%, Inditex lost 0.86%, Iberdrola fell 0.09%, Cellnex fell 0.45% and the oil company Repsol rose 0.29% .

Companies with exposure to renewable energies stood out on the downside: Acciona lost 0.57%, Siemens Gamesa fell 1.31% and Solaria fell 2.39%, due to fear of unfavorable tariff measures in the United States.

(Information by Tomás Cobos; edited by Darío Fernández)

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