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IBERIAN DAILY 16 FEBRUARY + 4Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACS, GREENING, INDRA, REPSOL.

At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’25 results to be released over the coming days in Spain.

Doubts continue
European stock markets saw a mixed performance, with core markets faring better vs. the weakness of the peripheral segment where the Ibex questioned again the 17,700 support level. In the STOXX 600, the best-performing sectors last week were defensive ones, particularly Household Goods and Telecoms, whereas Financials (mainly Banks and Insurance) ended with the biggest drops, sliding between -3% and -5%. On the macro side, in Spain, January’s final inflation data was lowered -0.1% to 2.3% YoY, whereas the core data remained at the preliminary and previous 2.6%. In the euro zone, the 4Q’25 final GDP confirmed the preliminary 1.3%. From the ECB, Kazaks warned that the appreciation of the euro is increasing in the institution’s debate. In the US, January’s inflation moderated slightly more than expected to 2.4% whereas the core data slowed down to 2.5%, in line with expectations. In Brazil, December’s retail sales slowed down more than expected. In Japan, the 4Q’25 GDP rose much less than expected. In China, the M2 index rose more than expected in January. In US business results, Moderna soundly beat expectations, whereas Eversource and Public Storage were more in line.
What we expect for today
European stock markets would open flat but with a slightly bullish slant. Currently, S&P futures are up +0.1% (the S&P 500 ended -0.4% lower vs. the European closing bell). Asian markets are falling (China’s CSI 300 closed, Japan’s Nikkei -0.12% and South Korea’s Kospi closed).
Today in the euro zone we will learn December’s industrial output.