INFORME DIARIO 26 NOVIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, FERROVIAL, NEINOR HOMES, TELEFÓNICA. EUROPA: ENI, UNICREDIT.Confianza en que la Fed terminará bajando tipos
Avances en las bolsas europeas, que siguen celebrando las mayores expectativas de bajadas de tipos para la próxima reunión de la Fed, especialmente después de la debilidad de los datos estadounidenses de hoy. En el STOXX 600, los mejores sectores fueron Construcción y Retail mientras que cíclicos como Tecnología y Energía sufrieron las mayores correcciones. Por el lado macro, en EE.UU. las ventas al por menor de septiembre avanzaron menos de lo esperado, aunque sin los componentes más volátiles estuvieron en línea. La confianza del consumidor de la Conference Board de noviembre retrocedió mucho más de lo previsto, hasta mínimos de abr’25. Los precios de producción de septiembre rebotaron en línea con lo esperado (pero con la subyacente por debajo) mientras que el índice de la Fed de Richmond de noviembre decepcionó al profundizar en terreno negativo. En materia geopolítica, el plan de paz de Ucrania necesitaría de más tiempo, lo que apunta a ciertas reticencias entre ambas partes. Por otra parte, S. Bessent ve probable que D. Trump anuncie el sustituto de J. Powell antes de final de año. En Japón, según Reuters, el BoJ estaría preparando a los mercados para una subida de tipos el próximo mes. En Rdos. empresariales del 3T’25 en EE.UU. Best Buy y Dell Technologies salieron mejor en beneficios, HP en línea.
Qué esperamos para hoy
Las bolsas abrirían con subidas superiores al +0,7% con recuperación de los sectores con sesgo growth. En estos momentos, los futuros del S&P 500 cotizan con subidas del +0,35% (el S&P 500 terminó ayer con avances del +0,26% con respecto al nivel al que estaba al cierre de las bolsas europeas). Los mercados asiáticos cotizan con subidas (CSI 300 chino +0,73%, Nikkei de Japón +1,73% y Kospi +2,67%).
Hoy en EE.UU. el paro semanal, el PIB del 3T, los pedidos de bienes de capital de octubre, el ingreso personal de octubre y el libro Beige de la Fed. En Rdos. empresariales del 3T’25 en EE.UU. Deere&Co entre otros.
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.
Eni is engaged in the oil and gas exploration and production, gas marketing operations, management of gas infrastructures, power generation, petrochemicals, oil field services and engineering industries. Co.'s operations are divided into three segments; Exploration and Production (oil and natural gas exploration and field development and production, as well as LNG operations), Gas and Power (supply, trading and marketing of gas and electricity, managing gas infrastructures for transport, distribution, storage, re-gasification, and LNG supply and marketing), and Refining and Marketing (supply of crude oil, refining and marketing of refined products). Co. maintains operations in 73 countries.
Ferrovial is a transportation company based in Spain. Co. is engaged in operations in the transportation sector. Co. specializes in the design, construction, management, administration and maintenance of transport infrastructures. Co.'s services range also includes the maintenance of parking lots, and land-, sea- and air-based transport networks. Co. is also engaged in the promotion and operation of short-stay parking lots, parking regulation and management services and promotion and sale of residents' parking.
Neinor Homes SA, formerly Neinor Homes SLU, is a Spain-based company engaged in the real estate sector. The Company focuses on the design, construction and promotion of residential properties. It develops housing projects in various Spanish cities, such as Malaga, Madrid, Barcelona, Cordoba, Vizcaya, Alicante, Almeria and Gerona.
Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.
Unicredit is a pan-European commercial banking group based in Italy. Co. is engaged in the provision of in-branch and online corporate and investment banking services, providing customers with access to banks in 14 core markets as well as to an another 18 countries worldwide. Co.'s operations are organized along six business lines: Commercial Banking Italy; CEE Division; CIB; Commercial Banking Germany; Commercial Banking Austria; and Asset Gathering. Co.'s European banking network includes Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Slovakia, Slovenia, Serbia and Turkey.
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