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The Spanish stock market falls pending business results and the Fed

Apr 27 (Reuters) – The Spanish stock market showed profit taking on Tuesday after the rally the day before, as investors scrutinize the latest reports on the evolution of the business of companies and await the news from the Federal Reserve this week.

In the international arena, concern persisted about the spread of the virus in some countries and specifically about the critical hospital situation India is facing, although advances in vaccinations in other nations allowed for a certain underlying optimism.

“There are already more than 1 billion doses administered around the world and more and more countries are beginning to guarantee the supply of doses beyond 2021, given the increasingly probable scenario in which it is necessary to vaccinate periodically, when less to the most vulnerable groups, “said Renta 4 analysts in their daily report.

At the macroeconomic level, the focus will be on the Conference Board’s Consumer Confidence in the US, which will serve as a preview of the comments released on the US economy by the Federal Reserve on Wednesday.

At 07:17 GMT on Tuesday, the selective Spanish stock exchange Ibex-35 fell 15.50 points, 0.18%, to 8,686.40 points, losing the psychological threshold of 8,700 points but still close to its highest levels. in more than 13 months.

In the absence of four sessions for the end of April, the Spanish selective accumulated a rise of 1.01% for the whole month.

For its part, the index of large European stocks FTSE Eurofirst 300 advanced 0.10%.

In the banking sector, Santander lost 0.14%, BBVA registered 0.03%, Caixabank did not show changes, Sabadell fell 0.76%, and Bankinter fell 0.24%.

Among the large non-financial securities, Telefónica fell 0.08%, Inditex lost 0.96%, Iberdrola fell 0.09%, Cellnex gained 0.60% and the oil company Repsol rose 0.18%.

Some of the most affected titles were in the tourism and travel sector, after the new international restrictions on flights with India: the Anglo-Spanish airline holding company IAG fell 1.27% and the Amadeus flight booking group fell by 1.27%. 1.27%.

Outside the Ibex-35, Duro Felguera stood out with an advance of 7.8% after the press published that the bank has unlocked the rescue of the engineering group.

(Information by Tomás Cobos; edited by Darío Fernández)

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