The Ibex marks daily highs driven by Ferrovial, Arcelor, Acerinox and Repsol

In addition, the values associated with commodities, such as ArcelorMittal, Acerinox and Repsol, have registered a very positive behavior due to the large rebound in oil after the temporary blockade of the Suez Canal due to an accident.

Investors have closely followed the publication of the manufacturing and services PMIs that have been known in Europe, and that have come out better than expected in all cases, although they have shown that image of a "two-speed economy", with the manufacturing sector in the lead and the service sector behind.

In the euro zone as a whole, the March manufacturing PMI rose to 62.4 from 57.9, while services remained below 50, although it improved to 48.8 from 45.7. In Japan, the manufacturing PMI has remained at 52, in line with expectations and above the previous 51.4; and in the US both references remain strong, close to 60 points.

SUMMER OPTIMISM FADES

Experts acknowledge that optimism about the summer tourist season is fading in recent days after it is becoming increasingly clear that leisure travel is going to be very difficult. There is growing concern that the European third wave could delay any kind of return to normality when it comes to international travel this year.

"With European countries trying to cope with an increase in their own infection rates, and the extension of restrictions well into April, it is slowly becoming apparent that even if the UK and the US succeed your goal of a successful vaccination program, it is highly unlikely that international travel will return in any meaningful way as long as much of Europe remains behind the curve in inoculating its populations, "warns Michael Hewson, Director of Analysis from CMC Markets in London.

In this sense, it should be noted that the 'war' for vaccines between the EU and the United Kingdom continues. The Italian authorities have discovered almost 30 million doses of the AstraZeneca vaccine hidden in the Catalent Pharma plant, in Anagni, a municipality near Rome, which were ready to be shipped to England.

It is also important to take into account that Angela Merkel came out this Wednesday to apologize and has canceled the restrictions announced yesterday for Easter after she received strong criticism.

EYE TO BIONTECH

In Asia, the shares of the Chinese pharmaceutical group Fosun Pharma have fallen sharply after Hong Kong and Macao announced the temporary suspension of the use of BioNTech's vaccine against Covid.

Fosun Pharma, BioNTech's partner in the development and distribution of the vaccine in China, notified cities of a packaging defect in a batch of the vaccine. Hong Kong and Macao decided to suspend vaccination as a precautionary measure.

The cities said BioNTech and Fosun Pharma are investigating the cause of the vial stopper defect, adding that there is currently no reason to doubt the safety of the vaccine. Today the declines have clearly been imposed in Asia, with falls of between 1.5% and 2% in the main indices.

TENSION BETWEEN CHINA AND THE EU

The European Commission described this Tuesday as "unacceptable" the sanctions adopted by China against its institutions in response to European measures for the situation of Uyghurs in Xinjiang, although it has defended the trade agreement signed at the end of the year with Beijing.

"The sanctions will not help to create a constructive relationship with China. However, we remain convinced that its trade importance means that we must continue relations based on rules at the multilateral and bilateral level," said the Commission's Trade spokesperson, Miriam García, in defense of the trade pact.

OTHER MARKETS

The euro trades at $ 1.1821. Oil rose 5%, to $ 63.93 for Brent and $ 60.80 for West Texas, after collapsing yesterday and also due to the aforementioned blockade of the Suez Canal due to an accident.

The ounce of gold rose 0.6 (1,735 dollars), as did silver (25.32 dollars).

Bitcoin and Ethereum are up 1% to $ 55,808 and $ 1,715, respectively. Keep an eye out for the latest from Elon Musk on bitcoin.

The yield of the 10-year American bond falls to 1.626% and that of the Spanish bond continues to relax to 0.28%.