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  • Meeting: The Eurogroup does not reach an agreement and will try again this Thursday

The lack of agreement at the Eurogroup meeting has brought to a halt the rises that the main European exchanges have been chaining in the last two sessions (three in the case of the Ibex 35). The ministers of Economy and Finance of the euro zone have been forced to suspend the meeting in which they intended to agree on support measures for the countries most economically hit by the coronavirus. 16 hours later it was not possible and they will try again this Thursday, but that has not served to avoid disappointment in the markets.

Investors have reactivated the brake pending a new negotiation. Thus, the Ibex 35 has dropped 0.7% and remains on the verge of 7,000 points; the Frankfurt Dax, 0.23%; the Ftse 100 in London, 0.47% and the Ftse Mib in Milan, 0.18%. In all cases, the falls have been mitigated after the opening of Wall Street , where its main indexes maintained rises of around 2% at the close of the European markets; Among them, only Cac 40 in Paris has saved green (+ 0.1%).

And this despite the fact that the Bank of France has advanced that the French GDP will contract around 6% in the first quarter of the year and that it could exceed 30% in the second.

In Spain, IAG continues to gradually recover part of the value lost during the stock market crisis unleashed by the coronavirus. The airline holding company to which companies such as Iberia, British Airways or Vueling belong, has led the progress on Wednesday by winning 3.6%, ahead of Indra (3.44%), CaixaBank (1.72%), Acciona (1.68%) and BBVA (1.1%).

The banking sector also gathered in today's session the announcement of the ECB (European Central Bank) late on Tuesday, when it communicated its decision to lower the demands on entities to guarantee the flow of credit to families and companies in the European Union .

The Madrid Stock Exchange will also be operational tomorrow, despite being a holiday in various Spanish communities, although it will keep its doors closed on Friday and Monday.

The risk premium , for its part, has remained more or less stable compared to previous days and stood at 115 basis points at the close of the stock markets, with the interest demanded on the ten-year bond at 0.83%.

As for oil , it has also remained at the levels of the previous day at the expense of the meeting scheduled for tomorrow between the Organization of Petroleum Exporting Countries (OPEC) and its allies. Thus, the barrel of Brent (benchmark in Europe), has been at $ 32, while the West Texas Intermediate (WTI), benchmark for the United States, is trading at around $ 24.5.

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  • Coronavirus
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