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After rollercoaster movements performed along several months, the so long expected Dec 9th European summit should have provided some stability to the stock markets. Nevertheless, after a cold welcome reaction on the announced agreements, fear and uncertainty still prevail. Politicians should coordinate in order to rule out solutions to the EU crisis instead of holding meetings with no clear results. This time, after all, Europe is going towards a fiscal union and it will not only be easy but slow as well. Even after ECB’s rate cut, low economic growth and recession seem to be the coming features before recovery, as most of institutes are forecasting. Meanwhile, government bond spreads have relaxed but new hikes are not to be dismissed as well as high volatility and low volume markets.
Banco Pastor shares have been no exception to the rule as most of the banking sector.
