The emergence of the coronavirus in Europe with force is the main concern of investors this Monday. Futures plummet 2% after Italy announced 150 infected by this cause and three dead. The country is looking for the origin of the virus outbreak while the entire Old Continent studies measures to prevent the disease from spreading. In Asia, the situation is also getting worse, especially in South Korea, where the number of infected has increased sixfold in recent days. Asian stocks have also fallen this morning.
- 11.656,600
- 0,39%
Among the selective we have highlighted the very strong falls in IAG (-9.43%), ArcelorMittal (-6.76%) or Meliá Hotels (-7.82%). The Italian Mediaset has also fallen sharply (-7.28%).
"The sharp increase in cases in Japan and South Korea, where authorities have begun to close schools and other public buildings, has increased nerves, along with outbreaks in Italy, where authorities have imposed a strict quarantine on the northern part of the country, "says Michael Hewson, director of analysis at CMC Markets in London.
"Since new outbreaks are likely to continue throughout the world, not forgetting that Iraq and Turkey have closed their borders with Iran after cases have been reported there, financial markets may well have to get used to a prolonged period of uncertainty. "adds Hewson.
Meanwhile, this Monday, macro data that is carefully analyzed to verify the impact of the coronavirus on the economy continues to be published. For now, the good news is that the February German IFO has come out better than expected. The IFO business climate has remained at 96.1 compared to the expected 96. The current IFO valuation stood at 98.9 compared to the estimate of 99 and the IFO expectations remained at 93.4 when an estimate of 93.3 was estimated.
The Secretary of the Treasury of the United States, Steven Mnuchin, said on Sunday at CNBC that US officials will have a broader idea of how the outbreak of coronavirus will end up impacting the economy in "three or four weeks."
In other news, in American politics, Bernie Sanders won a clear victory in the Nevada primary of the weekend, becoming the favorite to be the Democratic election candidate.
For the rest, here in Spain we talk about the problems in the Canary Islands that happened during the weekend, with the suspension of more than 800 flights due to the calima. In addition, on the political level, the week starts with the changes in the Basque PP, while the focus will be on Wednesday's meeting between Pedro Sánchez and Quim Torra.
At the business level, this week will continue to publish results, such as Endesa (on Tuesday) or Iberdrola (on Wednesday). This Monday we saw those of Almirall or Oryzon.
