Jun 29 (Reuters) – The Spanish stock market opened on Tuesday, widening Monday’s declines, weighed down by the tourism sector amid caution on the US employment report as the most contagious variant of the coronavirus spread it is generating new restrictions.
The index followed the cautionary tone of global seats as some countries reimpose containment measures to contain the spread of the Delta variant, while others are banning passenger flights from areas with high levels of infection, such as the United Kingdom.
On the European scene, the measures to tighten restrictions by Spain and Portugal on British travelers announced on Monday were punishing the leisure and tourism sector. The airport manager AENA fell 0.28%, the Anglo-Spanish airline holding company IAG fell 1.89%, the flight reservation group Amadeus fell 2.25% and the hotel company Meliá fell 1.02%.
In macroeconomic terms, the publication of the US employment report for June is expected, which could influence the Federal Reserve’s political outlook and advance expectations of interest rate hikes.
“Inflation is already much higher than the Federal Reserve expected, so it is the pace of improvement in the labor market that is above any other indicator in terms of when the Federal Reserve will feel comfortable signaling the start. from the withdrawal of stimulus, “said Ray Attrill, head of currency strategy at National Australia Bank in Sydney.
Thus, the selective Spanish stock market Ibex-35 fell 12.60 points at 07:05 GMT, 0.14%, to 8,901.10 points, while the index of large European stocks FTSE Eurofirst 300 advanced 0, 22%.
In the banking sector, Santander rose 0.23%, BBVA scored 0.08%, Caixabank advanced 0.27%, Sabadell fell 0.31%, and Bankinter fell 0.12%.
Among the large non-financial securities, Telefónica scored 0.70%, Inditex advanced 0.57%, Iberdrola fell 0.05%, Cellnex gained 0.22% and the oil company Repsol rose 0.17% .
(Information from Michael Susin, additional information from Paulina Duran, edited by Flora Gómez)