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Market Update: Spanish Stocks Trade Cautiously Higher
The IBEX 35 traded slightly higher around 9,107 on Monday, in cautious trading as investors continued to weigh prospects of a solid economic recovery from the Covid-19 pandemic helped by faster vaccination rollouts and further economic stimulus against the threat of persistent inflation and higher interest rates. On the domestic economic front, Spain’s industrial production grew at a record 48.2 percent year-on-year in April 2021, due to the low base effect and as the economy consolidated its recovery from the coronavirus crisis. Elsewhere, G7 finance ministers on Saturday agreed the landmark deal to reform the global tax system, saying they would back a minimum global corporation tax rate of at least 15%. [/s2If]
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