Spain’s National Statistics Institute reports March inflation data and Prime Minister Jose Luis Rodriguez Zapatero speaks in Parliament in Madrid.
WHAT TO WATCH: *The INE reports its first estimate of harmonized consumer price inflation for March at 9 a.m. CET. It also publishes retail sales figures for February. *Spain’s Prime Minister Jose Luis Rodriguez Zapatero will be in Parliament to talk about last week’s European summit at 9 a.m. Afterwards he will answer questions in the weekly session in Parliament.
ECONOMY: *Spain’s social-security reserve fund amounted to 64.4 billion euros at the end of 2010 and Spanish public debt accounted for 87.9 percent of the fund’s assets, with debt issued by other European governments accounting for the rest. *Exchange-rate talks will move to the Group of 20 from the Group of 7 as the bloc’s members step up cooperation that aims to enhance the resilience of the world economy, German Finance Minister Wolfgang Schaeuble said. *German Deputy Finance Minister Joerg Asmussen said the euro region is prepared for any “turbulence” that may arise in financial markets as a result of the bloc’s sovereign debt crisis.
EQUITIES: *Banco Santander SA purchased 96 percent of Poland’s Bank Zachodni WBK SA for 3.99 billion euros ($5.62 billion) from Allied Irish Banks Plc. Santander will also buy 50 percent of BZ WBK Asset Management from Allied Irish for 150 million euros in cash, the Madrid-based lender said in a statement. *Faes Farma SA will start selling its allergy treatment Bilastina in Spanish pharmacies in the first week of April, the company said in a regulatory filing. The treatment will be marketed under the brand Bilaxten, it said.
MARKETS: *The IBEX 35 Index slid 0.2 percent to 10,735. *The spread between Spanish and German 10-year borrowing costs narrowed to 187.4.
-- Editor: Chris Peterson