The IBEX 35 closed higher on Monday encouraged by prospects for economic recovery.
Despite the preventive measures linked to the coronavirus, which momentarily disrupt passenger traffic, the travel and tourism sectors were stable with an eye beyond the short term.
In fact, the Amadeus flight bookings group increased by 1.67 percent.
“Looking ahead to 2022 we will still have uncertainties about Covid-19, but the good news is that according to the WHO, we could see the end of the pandemic towards the end of the year,” said Jawaid Afsar, Securequity sales operator.
In the United States, the S&P 500 hit a new all-time high early Monday afternoon in Spain, as strong retail sales underscored the strength of the economy and overshadowed concerns over flight cancellations caused by the omicron variant.
In this context, the IBEX 35 closed with a rise of 58.40 points on Monday, or 0.68 percent, to 8,622.10 points, while the index of large European stocks FTSE Eurofirst 300 rose 0.64 percent.
IBEX 35 (IB)IBEX 35 (IB)
European stocks close at one-month highs
The rest of European stocks rose on Monday led by gains in technology and health stocks; while Roche’s actions advanced after the approval by regulators of products related to treatments for Covid-19.
- The pan-European STOXX 600 Index gained 0.7 percent, with tech stocks and defensive stocks such as healthcare and construction leading the gains.
- Tech is on track to be the best performing European sector in 2021 and is on track to add around 33 percent, followed by banking.
- The rest of world markets also rose in a day with few operations, which led the Wall Street S&P 500 index to hit all-time highs, given less concern about the economic effects of the omicron variant of the coronavirus.
The key data // After a 4 percent drop in 2020, the STOXX 600 is on track to climb 21.7 percent this year, after encouraging results from studies on the omicron variant boosted gains last week.