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European stocks fall sharply due to Covid: the Ibex struggles to maintain 6,400



The Ibex struggles at this time to maintain the 6,400 points (6,444 points). "Be careful, if you lose the 6,500, could end up seeing an extension of the falls to the level of 6,421 points", warns César Nuez, analyst at Bolsamanía and head of Trader Watch. Except for PharmaMar, all the others fell sharply, highlighting the declines of Naturgy, Acerinox, Repsol (which marked a maximum of 17 years) or in the tourism sector.

The increases in PharmaMar come after European justice has agreed with him in the resolution on 'Aplidin'. In this way, the decision of the European Commission denying the marketing of 'Aplidin' (plitidepsin) for the treatment of patients with multiple myeloma is annulled.

Investors follow concerned about the evolution of the pandemic, while not losing sight of business results. Today they have published accounts in Spain Bankia, Naturgy or Aena, among others. Deutsche Bank has also released figures. The bank has returned to profit in the third quarter.

"Addressing the growing Covid-19 crisis is key now for Europe. Before her political statement in front of the Bundestag this Thursday, German Chancellor Angela Merkel will meet again today with the presidents of the different states to discuss possible new restrictions, such as the closure of bars and restaurants. It is also expected that President Macron Announces Stronger Closure Measures"Danske Bank experts explain in their daily report. In Spain, the Autonomous Communities are studying restrictive measures, some for this weekend.

Otherwise, the Bank of Japan concludes its two-day monetary policy meeting on Thursday. Experts note that it is likely to announce a cut in GDP and inflation forecasts. In addition, tomorrow there is also a rate decision from the European Central Bank (ECB). Berenberg analysts expect the agency to pave the way for a new stimulus package in December. "The backdrop justifies further action now, but it is unlikely that the ECB will act already this Thursday", says the German firm.

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