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The Spanish stock market takes a breather while waiting for business results

Apr 20 (Reuters) – The Ibex-35 opened on Tuesday with a slight decline after hitting highs of more than 13 months the day before, in a transition day awaiting new benchmarks for equities and especially information provided by companies in their reports for the first quarter.

The underlying trend in the market remained positive in any case, as investors are betting on a recovery in the euro area from the second quarter thanks to the expected acceleration in vaccination.

On the macroeconomic and monetary level, the next weight references will already be in Thursday’s session, including the ECB’s monetary policy meeting and the weekly unemployment report in the United States.

At 07:05 GMT on Tuesday, the selective Spanish stock exchange Ibex-35 fell 13.20 points, or 0.15%, to 8,698.20 points, while the index of large European stocks FTSE Eurofirst 300 fell 0.18 %.

There was some concern in the banking sector following comments from a senior ECB official who noted that major banks in the euro area underestimate risk by € 275 billion.

In Tuesday’s session, Santander rose 0.02%, BBVA fell 0.12%, Caixabank lost 0.08%, Sabadell fell 0.59%, and Bankinter fell 0.24%.

Among the large non-financial securities, Telefónica fell 0.65%, Inditex lost 0.49%, Iberdrola appreciated 0.09%, Cellnex gained 0.76% and the oil company Repsol rose 0.16%.

Enagás fell 2.1% after announcing a 22% drop in first quarter profit.

(Information from Tomás Cobos, edited by Michael Susin)

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