MEXICO CITY, Mexico, in February. 19, 2015.- European shares experienced an episode of high volatility amid negotiations between Greece and its European partners and the sharp drop in oil prices, while the minutes of the European Central Bank (ECB) offered a better view the future path of monetary policy.
At the close of European trade, the FTSE 100 lost 0.13%, the DAX 30 gained 0.37% and the CAC 40 advanced 0.71%. The Borsa Italiana off 0.60%, while the Ibex 35 of Spain won 0.97% and the Stoxx 600 index ended up 0.17%.
The stock markets in Europe began the day in good spirits after Greece sent Thursday to its European partners a financial proposal which relaxes its position on the Troika, committing to a balanced budget.
The proposal of Athens guarantees its European partners against immediate reforms tax evasion and corruption and parallel measures to address the humanitarian crisis and revive the economy.
In this sense equities was supported by the statements of President of the European Commission, Jean-Claude Juncker, who was much more positive about the Greek proposal, calling it a positive sign that opens the way to a reasonable compromise.
However, the refusal of Germany worried investors and stock indexes were harmed. The Greek proposal was unwelcome in Germany, as the German Ministry of Finance considered in a statement that is not a proposal for substantial solution and does not meet the criteria of the euro area.
As for the low oil prices this morning, the European energy sector registered downward movements on the stock. And today reported that last week crude oil inventories in the United States rose nearly eight million barrels.
The first minute of the ECB stressed that at the last meeting were discussed issues such as purchases of corporate debt, which could be implemented if necessary to achieve the inflation target of 2%. It also showed that the stimulus measure launched in January remain in effect until an improvement is shown on the economy.
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