The Spanish Stock Market rises 0.28% and recovers 8,600 points

Madrid, Apr 8 (EFE) .- The Spanish Stock Market rises 0.28% after the opening of the session this Thursday and recovers the 8,600 points lost the day before, encouraged by the new highs of the S&P 500 index, after knowing that The US Federal Reserve (Fed) will be patient before withdrawing its debt purchase program.

At 9.15 am, the IBEX 35, the main Spanish selective, adds 24.20 points, that 0.28%, to 8,622.40 points. Profits for the year reached 6.80%.

With these gains, Spanish equities resume the positive trend after closing yesterday with a 0.43% drop, below 8,600 points.

Wall Street, for its part, closed in mixed terrain, with little variation, but enough for one of its main indicators, the S&P 500, to register a new record, which today gives wings to the stock markets of the Old Continent.

The US market welcomed the minutes of the last Fed meeting with a positive tone, which show that the central bank will wait a while before considering withdrawing its debt purchase program, which it considers is assuming “substantial” support to the US economy during the pandemic.

Analysts explain that this message helps maintain the truce in the debt market, where the interest on the US 10-year bond remains at the 1.6% level, far from the highs of 1.77% reached. the previous weeks.

In Spain, the yield on the ten-year bond reaches 0.33%.

After knowing the minutes of the last meeting of the Fed, today it will be the turn of the European Central Bank (ECB), which will publish the one of its meeting on March 11.

Weekly unemployment data in the US and producer prices in the Eurozone will also be released.

After a day in which Asia has closed flat (Tokyo has lost 0.07%, and Shanghai has risen 0.15%), and in which the futures on the main US indices point to a positive opening, stocks Europeans have started with a profit.

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Frankfurt scores 0.49%; Milan, 0.46%; Paris, 0.39%; and London, 0.29%.

In the Spanish market, most of the large stocks on the IBEX 35 rose: BBVA added 0.55%; Iberdrola, 0.53%; Telefónica, 0.47%; Inditex, 0.32%; and Repsol, 0.23%.

Santander, for its part, fell 0.02%.

Grifols stands out by increasing 2.06%, while IAG and Melia Hoteles are the most bearish, with losses of 1.23% in both cases.

In the continuous market, Airtificial is the value that falls the most, 1.69%; while Service PS is the one that increased the most, 3.19%.

The price of Brent crude, the benchmark in Europe, falls at this time by 0.87%, to $ 62.61.

(c) EFE Agency