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The Spanish stock market gives way with doubts about vaccines and eyes set on the Fed

Apr 14 (Reuters) – The main Spanish selective opened maintaining the downward streak on Wednesday in a context of caution against the recommendation of suspension of the Johnson & Johnson vaccine in the US and its delay in Europe, while investors await the publication of the Book Fed Beige.

US federal health agencies recommended on Tuesday to suspend use of Johnson & Johnson’s COVID-19 vaccine for at least a few days after six women under 50 developed blood clots after receiving the injection, marking a new setback for efforts to tackle the pandemic. The announcement was followed by information that the drugmaker will delay the launch in Europe of its vaccine.

The US corporate earnings season begins with the publication of the accounts of the investment banks Goldman Sachs, JP Morgan, and Wells Fargo, where investors will be attentive to the forecasts for 2021.

On the other hand, the publication of the Fed’s Beige Book is expected to “reiterate the idea that the economy continues to accelerate, but still far from full employment targets and therefore in no rush to withdraw QE or start raising rates. of interest “, according to analysts of the Renta 4 bank.

In domestic terms, inflation in Spain rose 1.3% year-on-year in March, complying with the estimates of analysts surveyed by Reuters.

In this context, the selective Spanish stock market Ibex-35 fell 8.30 points at 07:28 GMT, 0.09%, to 8,516.90 points, while the index of large European stocks FTSE Eurofirst 300 advanced 0, 14%.

The banking sector maintained the decreases of the previous day. Santander lost 0.16%, BBVA fell 0.36%, Caixabank lost 0.66% and Bankinter fell 0.34%.

Among the large non-financial stocks, Telefónica fell 0.12%, Inditex lost 0.40%, Iberdrola fell 0.17%, Cellnex fell 0.65% and the oil company Repsol lost 0.24%.

The Amadeus reservations group led the table in the first operations with a rise of 0.9%, while Sabadell occupied the last place with a decrease of 1.09%.

(Information by Michael Susin; Edited by Emma Pinedo)

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