Monday, June 14We Break the News

Spanish Stocks Climb on Friday, Sensex Posts Second Straight Week of Gains, Cigna earnings at 4.73 USD, Bulgaria Consumer Morale Rises for 5th Straight Quarter

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Spanish Stocks Climb on Friday
The IBEX 35 kept its momentum to climb over 1-year highs on Friday, as investors digested new economic data with more earnings and operational results, from which stood out travel company Amadeus, whose booking volumes were at their highest since the onset of the pandemic and continued improving into April. On the earnings front, Spain’s fast expanding telecoms provider Cellnex said core earnings rose 47% to €381 million, underpinned by a 41% jump in revenues to €506 million, slightly exceeding market expectations. Also, Caixabank showed net profits surged almost six-fold to €514 million during the first quarter, beating market forecasts of €342 million, after the bank did not set aside any provisions against the impact of the pandemic.
Sensex Posts Second Straight Week of Gains
The S&P BSE Sensex closed the week 0.9% higher at a six-day high of 49,206, booking a second straight week of gains, supported by a rally in metal stocks as both copper and iron ore prices hit all-time highs. On the corporate front, shares of mortgage lender HDFC jumped 2.7% on the back of better-than-expected quarterly results; while UltraTech Cement rose 1.2% ahead of the publication of its earnings report later in the day. Meanwhile, concerns over India’s economic recovery continued to mount after the country reported another record daily increase in COVID-19 infections.
Cigna earnings at 4.73 USD
Cigna (CI) released earnings per share at 4.73 USD, compared to market expectations of 4.37 USD.
Bulgaria Consumer Morale Rises for 5th Straight Quarter
Bulgaria’s consumer confidence indicator rose by 2.7 points to -30.9 in the second quarter of 2021 as consumers were less pessimist regarding the general economic situation of the country (-25.6 vs -26.8 in Q1) and household savings (-59.8 vs -61.6). Brighter assessment was also recorded for next year’s unemployment (23.6 vs 32.8) while there was a widespread aversion among households towards their intentions to purchase a home (-88.1 vs -89.5) or spend on large improvements (-74.1 vs -73.6).

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