May 4 (Reuters) – The Ibex-35 rose at Tuesday’s open reaching a new high of more than 13 months, in a context in which markets were boosted by advances against the pandemic in both the US and Europe, where the possibility of allowing the entry of travelers under certain conditions stimulated the prospects for recovery.
Monday’s intervention by Federal Reserve Chairman Jerome Powell, who said the US economy is not out of the woods yet, contained the benchmark 10-year US Treasury yield below 1.60%.
On the other side of the Atlantic, markets and especially values related to travel and tourism were driven by the European Commission’s proposal to allow the entry of vaccinated travelers or travelers from regions with low infection rates, which could be approved at the end of May.
“It is foreseeable that investors will remain pending in the coming days / weeks of the values most linked to the progressive recovery of mobility,” said Renta 4 in a note to clients.
Regarding macroeconomic data, the US trade balance and factory orders for March will be published.
In this context, at 07:38 GMT on Tuesday, the selective Spanish stock exchange Ibex-35 rose 39.90 points, 0.45%, to 8,933.60 points, its highest level since February 27, 2020.
For its part, the index of large European stocks FTSE Eurofirst 300 advanced 0.08%.
The group of blood products Grifols, considered a safe value due to the resistance of its business to economic crises, gained 2.22% after the publication of results.
In the banking sector, Sabadell, which led the index at the opening, rose 2.76%, Santander showed no changes, BBVA scored 1.45%, Caixabank advanced 0.22%, and Bankinter left 0 , 31%.
Among the large non-financial securities, Telefónica scored 1.34%, Inditex advanced 0.40%, Iberdrola showed no changes, Cellnex gained 0.34% and the oil company Repsol rose 0.96%.
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The worst hit on the Ibex was Siemens Gamesa, which fell again, in this case more than 3%, after cutting forecasts.
Outside the Ibex, the television group Mediaset España rose 2.80% after announcing on Monday an agreement with its second largest investor, Vivendi, which ends a 5-year legal war.
(Information from Flora Gómez; edited by Tomás Cobos)