INFORME DIARIO 19 MAYO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, BBVA, NATURGY, TÉCNICAS REUNIDAS. EUROPA: ALLIANZ, PROSUS, SOCIÉTÉ GÉNÉRALE.El Ibex, el mejor de la Eurozona
La inflación, el repunte en los intereses de deuda y el ajuste de los mercados en las perspectivas de crecimiento pesaron en una jornada negativa a ambos lados del Atlántico (sobre todo en EE.UU, que aceleró las pérdidas tras el cierre en Europa), en especial para el growth. Así, en el Euro STOXX casi todos los sectores cerraron en negativo, con mejor comportamiento relativo de Energía y Utilities frente a las pérdidas de Tecnología y Hogar. Por el lado macro, en la Eurozona la inflación final de abril se revisó ligeramente a la baja hasta el +7,4% a/a desde el 7,5% preliminar mientras que en R. Unido aceleró algo menos de lo esperado hasta el +9% a/a, máximos de 40 años. Por otro lado, la UE en su plan REPowerEU para alcanzar la independencia energética y la transición a energía limpias apunta a medidas de corto plazo como la posibilidad de precios máximos en el gas y racionamiento en caso de problemas de suministro así como impulsar el carbón y las nucleares a pesar de que el objetivo a medio y largo plazo sigue siendo el desarrollo de las renovables. En España, el BdE volverá a rebajar el crecimiento del PIB’22 tras la decepción del 1T’22 que probablemente se quedaría por debajo del 4,0% esperado por la UE y del 4,3% del Gobierno. Hernandez de Cos se mostró a favor de subir tipos hasta el 1,0% en 2023. En EE.UU. las viviendas iniciadas y los permisos de construcción de abril bajaron más de lo previsto. En Rdos. Empresariales en EE.UU. Lowe’s sorprendió al alza y Target Corp decepcionó.
Qué esperamos para hoy
Las bolsas europeas abrirían con caídas cercanas al -1,0% con un mayor lastre por el lado de las tecnológicas, imitando el movimiento de la bolsa estadounidense de ayer, donde los índices sufrieron la mayor caída en dos años. En estos momentos, los futuros del S&P cotizan con subidas del +0,1% (el S&P 500 terminó ayer con caídas del -1,16% con respecto al nivel al que estaba al cierre de las bolsas europeas). La volatilidad en EE.UU. subió (VIX 30,96). Los mercados asiáticos cotizan con caídas (CSI 300 chino -0,50%, Nikkei de Japón -1,72%).
Hoy en Eurozona actas del BCE. En EE.UU. la Fed de Filadelfia de mayo, la venta de viviendas de segunda mano de abril y el desempleo semanal. En subastas: España 6.000 M euros en bonos 2025.
Acciona is the parent company of a construction group. Co. is engaged in general construction activities in the areas of civil engineering and buildings, including railways, marine and hydraulic works, motorways and airports, town planning, conduits, pavements, parking lots, and industrial and urban buildings. In addition, Co. is engaged in the provision of real estate services, the operation of parking lots, telecommunications, services, ecology and alternative means of energy. Co.'s operations are organized in six business divisions: Infrastructures, Real Estate, Energy, Water, Environmental & Urban Services and Logistic & Transport Services.
Allianz is engaged in the provision of a range of insurance and asset management products and services. Co. has three business segments: Property-Casualty, which provides insurance products to both private and corporate customers, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel insurance; Life/Health, which provides life and health insurance products including annuities, endowment and term insurance, unit-linked and investment-oriented products and private health and supplemental health and long-term care insurance; and Asset Management, which provides institutional and retail asset management products and services.
Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
Lar Espana Real Estate SOCIMI SA is a Spain-based company primarily engaged in the operation of retail Real Estate Investment Trusts (REITs). The Company specializes in acquiring, managing and renting real estate assets within the Spanish market. Its business activities are divided into three segments: Shopping Centers, Offices, as well as Logistics. The Shopping Centers area is responsible for operation of a number of shopping malls, namely Txingudi, Las Huertas, Albacenter, Anec Blau, Hiper Albacenter, and Nuevo Alisal, among others. The Offices segment invests in office properties, such as Arturo Soria, Cardenal Marcelo Spinola, Egeo and Eloy Gonzalo. The Logistics division focuses on managing logistics warehouses, including Alovera I and Alovera II. The Company also owns a plot for residential properties development. It is a parent of a number of entities, such as Lar Espana Inversion Logistica SA, Gran Via Centrum Holdings SAU, Global Noctua and Puerta Maritima Ondara.
Societe Generale is a universal banking and financial services group based in France. Co. is engaged in operations in areas such as retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Co.'s three segments are: French Retail Banking (FRB); International Retail Banking & Financial Services (IBFS); and Global Banking and Investor Solutions (GBIS). FRB offers products and services to individual, professional and business customers; IBFS comprises banking networks and consumer finance activities; and GBIS covers global activities of Corporate and Investment Banking. Co. maintains operations across 76 countries globally.
Tecnicas Reunidas is a general contractor company based in Spain. Co. engages in the engineering, design, and construction of industrial facilities for refining and petrochemical, oil and gas, power, and infrastructure and industries sectors worldwide. Co. constructs nuclear plants, conventional thermal plants, and renewable energy and cogeneration facilities for power sector; refineries and facilities for petrochemicals; water treatment, desalination, waste management, air, land, and marine transport facilities; and liquefaction, and storage facilities, as well as oil and gas fields and pipelines. Co. also provides engineering, management and operating services for industrial plants.
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