ECB Executive Board member Jose Manuel Gonzalez-Paramo and Spain’s Economy Minister are among speakers at a banking seminar in Madrid organized by Bankia SA and El Pais newspaper.
All times in CET (ET+6)
WHAT TO WATCH: -- Former ECB Board Member Lorenzo Bini Smaghi also speaks at the Madrid banking seminar. -- Spain’s new budget deficit target of 5.8 percent of gross domestic product announced March 2 was agreed with key European Union leaders, El Mundo reported March 4.
ECONOMY: -- 9:15 am: Spain February Services PMI; Forecast 45.4
-- 10:30am: ECB Executive Board member Jose Manuel Gonzalez-Paramo speaks in Madrid.
-- 11:00am: Prime Minister Mariano Rajoy to meet Organization For Economic Cooperation and Development Secretary General Angel Gurria.
-- Bankia, El Pais: Bankia Chairman Rodrigo Rato, Banco Sabadell CEO Jaime Guardiola, Bankinter CEO Maria Dolores Dancausa also speak in Madrid.
EQUITIES: -- Repsol YPF: Argentina’s Chubut province gave YPF SA (YPFD), a unit of Repsol seven days to provide a “working plan” for its regional investments.
MARKETS: -- Ibex-35 up 0.2% -- Spanish-German 10-year yield spread 310.6 basis points
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