Apr 6 (Reuters) – The main Spanish stock index maintained the bullish streak of the previous two sessions despite the Easter break in a context of optimism thanks to another series of solid economic data from the US that strengthened the global outlook, while the markets Currency and bond markets were on hiatus after a month of rapid gains in the dollar and US Treasury yields.
Appetite for risk positions increased after the good employment data in the US in March, which cemented expectations on Friday that there will be a new economic boom soon.
“This is how the American economy and its labor market continue to regain pulse, hand in hand with advances in vaccination and strong fiscal stimuli, (…), which coincide with the Fed’s full employment objectives, allowing so keep a broadly expansive monetary policy for the time being, “Renta 4 said in a note to investors.
Still on the international stage, the recovery of the services sector in China accelerated in March with the hiring of more workers by companies and the increase in business optimism, although inflationary pressures were maintained, according to a survey in the sector private.
For the session on Tuesday, the publication of the Sentix investor confidence of the euro area is expected for the month of April, where analysts polled by Reuters estimate an advance to 7.5 points from the 5.0 in February.
In this context, the Ibex-35 rose 83.00 points at 07:05 GMT, 0.97%, to 8,660.60 points, while the index of large European stocks FTSE Eurofirst 300 advanced 0.89%.
In the banking sector, Santander rose 1.25%, BBVA scored 2.32%, Caixabank rose 0.88% and Bankinter rose 0.24%.
Optimism of a speedy economic recovery boosted the shares of the steel group ArcelorMittal, which led the index with a rise of 3.28%, followed by the insurer Mapfre, which rose 3.06%.
At the other extreme, the group with exposure to renewable energies Acciona corrected 4.93%, partly due to profit taking after rising 23% so far this year and 56% in the last six months, while the market study which companies will benefit the most from Joe Biden’s infrastructure plan in the United States.
Also weighed on some renewable energy stocks was news that renewables group Capital Energy has decided not to go public.
Grifols lost 1.7% after announcing that a phase 3 trial against COVID-19 has not achieved significant results. https://bit.ly/3sV5m1U
(Information by Michael susin; edited by Tomás Cobos)