Ibex needs more support: BBVA and Repsol should join Telefónica

European markets could live on a new day of transition on Wednesday (Ibex: + 0.14%, 9,814 points), pending the pronouncement of European Central Bank (ECB) President Mario Draghi on Thursday. No news is expected of this meeting, but the words of the Italian always serve as a catalyst and will have to explain, once again, inflation (at 2% levels) and defend the agency's policies, as it did in the Press conference after the previous meeting.

Tomorrow's meeting with the ECB precedes that of the Federal Reserve (Fed), which next Wednesday (the day in which the elections are also held in the Netherlands and Inditex presents its accounts in Spain) will reveal if it finally raises the types Of interest.

"With inflation in the magic zone of 2%, ECB hawks and critics will feel their moment has come and will push to reduce stimuli," writes Carsten Brzeski, chief economist at ING in Germany and Australia, according to CNBC.

Meanwhile, Wall Street closed the previous session with falls of 0.25% on average while the European stock exchanges made it practically flat, with predominance of the red numbers.

Investors will also be pending Wednesday from the UK. The British Finance Minister is presenting the spring budget to Parliament, the last before the government begins negotiations for the Brexit with the Euorpean Union (EU). Meanwhile, in France, conservative presidential candidate François Fillon has been implicated in new allegations about an undeclared 50,000 euro loan. For now, Fillon remains in his position to continue in the race for the Elysee.