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The Ibex-35 opens the week higher with hopes placed on the negotiations on Ukraine

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March 14 (Reuters) – The Ibex-35 opened higher on Monday, in line with European stocks, as diplomatic efforts to end the war in Ukraine intensified.

This slight respite comes at a time when supply chains, already battered before the war, are under additional pressure. Semiconductor production, for example, has been hurt by the shutdown of Ukraine’s two main neon processors, which produce about half of the world’s supply for chips.

The pan-European STOXX 600, which has fallen more than 11% so far this year, opened Monday up 1.0% on possible diplomatic gains.

At the national level, lost values ​​related to travel pushed the Ibex higher, with airlines in first position in the index.

This week, all eyes were on the Federal Reserve, and US Producer Price Index (PPI) data, estimated to show a 10% annual rise on Tuesday, set the stage for a rise in types.

Markets will also be keeping an eye on the evolution of the pandemic, after China has registered an increase in cases over the weekend.

In this context, at 08:17 GMT on Monday, the selective Spanish stock market Ibex-35 rose 119.70 points, and 1.47%, to 8,261.80 points, while the index of large European securities FTSE Eurofirst 300 advances and 0.51%.

The airline holding company IAG is at the head of the index with an increase of 4.2%, followed by the airport operator Aena, which registered an increase of 3.6%.

At the other end of the table was ArcelorMittal, which dropped 1.5% after the CNMC imposed a fine of 12.12 million euros on the group.

In the banking sector, Santander rose 1.73%, BBVA e scored 0.20%, Caixabank advanced 1.98%, Sabadell gained 2.30%, and Bankinter revalued 1.48%.

Among the large non-financial stocks, Telefónica scored 1.47%, Inditex advanced 3.72%, Iberdrola revalued 2.00%, Cellnex fell 0.91% and the oil company Repsol lost 1.24% .

(Information by Flora Gómez, edited by José Muñoz)

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