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The Ibex and the rest of Europe fall before the problems to agree on the Bottom

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The Indices of the Old Continent are trading in red this Monday (Ibex: -0.8%) while investors they keep a close eye on European leaders, who have been unable to reach an agreement on the Recovery Fund this weekend and who They meet again today to continue negotiating.

The leaders of the European Union (EU) have so far not agreed on the size and composition of a € 750 billion Recovery Fund. The President of the European Council, Charles Michel, reminded those present at the summit that currently More than 600,000 people have died from the coronavirus worldwide.

The pandemic continues to be the focus of attention for the markets, since coronavirus cases increase at an alarming rate in some parts of the world. Data collected by Johns Hopkins University showed that more than 70,000 cases in the US, which means two days in a row of at least 70,000 new infections.

Thus begins a week that will be marked by the beginning of the second-quarter results season in Spain, with the accounts of Iberdrola and Naturgy on Wednesday or Repsol on Thursday. This Monday Julius Baer, ​​who has registered a 43% rise in net profit for the first half.

Otherwise, investors will also be watching Telefónica today, after announcing this weekend that its Brazilian subsidiary has submitted an offer to take over Oi's mobile business. Also, Grifols has communicated this Monday the purchase of factories and pasta centers in Canada and the US for 460 million dollars.

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