The Ibex leads the rises in Europe and recovers 40% of the year's losses in two days

The Ibex leads the rises in Europe and recovers 40% of the year's losses in two days

The selective Spanish has gained 3.4% in the session this Tuesday with Repsol, banks and tourism, again, as protagonists

The Ibex leads the rises in Europe and recovers 40% of the year's losses in two days

The euphoria has moderated this Tuesday in the European markets after the stock market festival on Monday when the advances of Pfizer in the vaccine against the coronavirus were known. The Ibex 35 , however, has continued with its particular comeback and for the second day in a row it has been at the forefront of the squares of the Old Continent , this time with an advance of 3.4% that has allowed it to regain 7,700 points (7,711 ).

That rise is added to the 8.6% of the day before and both have allowed the Madrid selective to overcome 12% in just 48 hours, that is, 40% of the losses it accumulates since the beginning of the year.

Repsol, banks and tourism have been, once again, the main protagonists. The shares of the oil company have gained 12% on the prospect that an improvement in the health crisis will encourage consumption and travel and these, in turn, demand for crude . The possibility that restrictions on movements will be reduced is also behind the rebound in tourism, where companies such as Amadeus (+ 6.5%) or IAG (+ 6.54%) have been among the greatest advances.

In that leading group are also the banks, which benefit from optimism regarding the economic forecasts for the coming quarters if an effective vaccine against Covid-19 is finally found. Bankia (9.6%), CaixaBank (10%) and Santander (8.6%) have registered spectacular increases.

Behind the Ibex 35 were the Cac 40 in Paris (+ 1.55%), the Dax in Frankfurt (+ 0.5%); the Ftse Mib in Milan (+ 0.5%) and the Ftse 100 in London (+ 1.8%).

Advances in the vaccine

Pfizer's announcement was an injection of optimism to the outlook for the world economy at a time when infections and deaths from Covid-19 are rising exponentially. Pfizer and Biontec announced that their coronavirus vaccine is more than 90% effective, following the “success” of the first interim analysis of their phase 3 trial.

Thus, its candidate for a vaccine based on mRNA, BNT162b2 against Sars-Cov-2 has demonstrated its efficacy against the coronavirus in participants without previous evidence of infection, according to the first provisional efficacy analysis carried out on November 8. The tests have been performed on a total of 43,538 participants and the analysis has evaluated 94 confirmed cases of Covid-19 in trial participants.

Optimism also reached the oil market yesterday, although this Tuesday the trend has been lowered as the session has passed. A barrel of Brent (a benchmark in Europe) stood at $ 42 at the close of the stock exchanges in the Old Continent, while West Texas (a benchmark in the US) stood at 39.9 greenbacks .

Regarding sovereign debt, the Spanish risk premium stood at 71 basis points, with the interest demanded on the ten-year bond at 0.19%, while the price of the euro against the dollar stood at 1, $ 1829.

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