European markets opened almost flat today, pending the opening of this evening’s EU summit, described as crucial to the future of the euro.
The Milan Stock Exchange today opened upward and selective index, FTSE MIB rose 0.21% and was equal to 13,333 points.
The London Stock Exchange rose 7.48 points, or 0.14 percent, and stood at 5531.40 integers, while the Frankfurt also opened upward and DAX 30 at first rose 0.13 percent to 6,237 units.
The same trend was recorded in Paris, where the CAC-40 was up 0.12 percent to reach 3,066.79 points.
In Spain, the IBEX 35 was down 0.5 percent,
The Euro opened higher in the foreign exchange market in Frankfurt and from 06.00 hours GMT was trading at $ 1.2510 compared to 1.2455 the previous day.
The risk premium on Spain touched at 09.42 local time (07.42 GMT) 550 points (549.2) after the interest of Spanish bond to ten years, whose distance from the same period the German measures country risk reached the critical level of 7%.
The additional cost that investors demand for buying Spanish debt against German widened both by rising bond yields Spanish as the slight fall of the German bond interest, which went from 1.571% to 1.508%.
Risk premiums in other peripheral countries of the euro area remained almost unchanged at this time except for Italy, which rose to 475 basis points while the yield of ten-year bond rose to 6.259%.
Analysts say markets expect to learn about the initiatives that the EU leaders can take to alleviate the debt crisis at the summit being held today and tomorrow in Brussels.
The Heads of State and Government today begins a crucial two-day summit for the euro area, which advocate for growth and employment and will try to move towards a new architecture based on a joint bank and fiscal policy.
The leaders approved an agreement to provide for growth and employment that will advocate for advancing the single market, digital and energy and a financing plan, probably endowed than 130,000 million.
Once this debate is concluded, is expected to address the Twenty-creation of a joint bank and fiscal policy that includes a European banking supervisor, a Treasury euro Eurobond vetoing budgets and limits on debt issuance.
These ideas are part of a report presented by the European Council President, Herman Van Rompuy, and on which to base the discussion of European leaders, in order to detail specific measures in December.