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The ECB announced the phasing out of quantitative easing with net purchases diminishing from 30 to 15 billion euros in the last quarter of the year and ceasing in December.

Global stock markets performed positively yesterday with modest increases in the S&P 500 and in the main European indices, except for the Portuguese and the French indices that closed with moderate losses.

European stock markets ended the week on a positive note while the main U.S. indices were mixed, with a slight decrease for the Nasdaq and a small gain for the S&P 500.

Global stock markets continued with the positive mood and, despite the trade tensions, the main stock indices of China and the U.S. registered solid gains.

Global stock markets performed positively and the main indices registered moderate gains, with the exception of the IBEX 35 and the Turkish BIST 100, which lost 0.4% and 3.0% respectively.

Stock markets in advanced economies registered losses in the last session of the week, as investors' concerns on trade tensions increased following the comments of the U.S. President, Donald Trump.

Global stock markets were mixed yesterday with the main European indices edging down (except for the Portuguese PSI 20 and the Ibex 35) and the S&P gaining 0.2%.

The main stock markets in advanced and emerging economies registered gains, with the exception of the Portuguese PSI and the Shanghai Index.

The last session of the week was marked by the announcement of the Italian 2019's fiscal deficit target (2.4% of GDP), which weighted on most European assets.

Yesterday's session was once again dominated by the uncertainty around the 2019's Italian fiscal deficit. In this context, the Italian risk premium continued to rise and exceeded the maximums reached in May (above 300bp).

Yesterday, the UK and the EU reached a provisional agreement on the Brexit Withdrawal deal, which still needs to be approved by the legislative powers in both regions.

Financial markets were less volatile in the first session of the week as investors digested the latest Jerome Powell's comments on the upcoming official interest rate moves (more flexible and aware to risks).

Trade tensions between China and the U.S., the extension of the U.S. government shutdown and positive surprises in the earnings season determined yesterday investor's mood.

In the last session of the week, investors traded in a cautious mood as they continued to digest the Fed's more dovish and patient tone.

In a session where the inflow of macroeconomic and sentiment data was abundant in the U.S. and in the euro area, investors read it, overall, in the downside.

Financial markets started the week with less optimism than in the previous sessions, despite the positive comments around the U.S. - China trade negotiations.

Advanced-economy stocks rose across the board as investors found support on positive indicators both in the U.S. (a solid +0.8% mom increase in capital goods orders in January and muted price pressures according to the producer price index, which rose +0.1% mom in February) and the Eurozone (industrial production +1.4% mom in January).

Financial markets ended the week with an optimistic tone, on the back of better-than-expected employment creation in the U.S. and advances in trade negotiations between the U.S. and China.

Driven mainly by the trade tensions of the U.S. with China and, more recently, Mexico, stock indices in advanced economies declined, the price of gold rose and the Japanese Yen appreciated, in a canonical example of a risk-off session.

In the last session of the week, stock indices declined across the globe and sovereign yields edged lower amid continuing concerns over trade tensions between the U.S. and China and better-than-expected U.S. retail sales.