Report
Research Department
EUR 100.00 For Business Accounts Only

IBERIAN DAILY 01 JULY (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACS, AENA, COLONIAL, ENCE, FCC, GRIFOLS, MELIÁ HOTELS, NH HOTELES, OHL, RED ELÉCTRICA.

MARKETS YESTERDAY AND TODAY

Delta variant fears
There was profit-taking on the European stock markets yesterday as Covid-19 cases increased due to the delta variant in countries such as the United Kingdom or Greece. Thus, the Euro STOXX erased the gains from Tuesday’s session, with almost all sectors ending in the red. The worst performers were Autos and Utilities vs. Personal Consumption and Travel & Leisure, which ended virtually flat. On the macro side, in the Euro zone, June’s inflation slowed by a tenth, in line with expectations (1.9% YoY), whereas core inflation was unchanged at 0.9%. In the US, according to ADP employment survey, job creation moderated less than expected while Chicago PMI dropped more than expected in June. Finally, pending home sales increased unexpectedly in May. In Brazil, April’s unemployment rate was unchanged at 14.7%. In Japan the manufacturing and non-manufacturing Tankan index climbed in the 2Q’21, as expected, to record highs from the past 2 years while June’s manufacturing PMI rose to 52.4 from 51.5. In China, Caixin manufacturing PMI dropped more than expected in June.
What we expect for today
European stock markets would open with gains
Underlyings
Actividades de Construccion y Servicios SA

ACS Actividades de Construccion y Servicios is a holding company. Through its subsidiaries, Co.'s activities are divided into the following areas: Construction, engaged in the construction of civil works, and residential and non-residential building construction; industrial services, engaged in the development of applied engineering services, installations and the maintenance of industrial infrastructures in the energy, communications and control systems sectors; services, groups together environmental services, the outsourcing of building maintenance services, logistics and transport services; and concessions, mainly engaged in transport infrastructure concessions.

Aena SME SA

Aena SME SA, formerly Aena SA, is a Spain-based company primarily engaged in the airports operation. Its activities are divided into four segments: Airports, which comprises Aeronautical subdivision, responsible for the management of airports, jetways, security, handling, cargo and fuel services, among others, as well as Commercial subdivision, including duty-free and specialty stores, restaurant services, car rental, as well as banking services and advertising; Services outside the terminal, which manages real estate assets, such as parking lots, warehouses and lands; International, which comprises operations of Company's subsidiary, Aena Desarrollo Internacional SA, that invests in other airport owners principally in Mexico, Colombia and the United Kingdom; and Others, encompassing corporate activities. It manages tourism, hub and regional airports, as well as heliports and general aviation areas. Furthermore, its destination range comprises Europe, the Americas, Asia and Africa.

ENCE Energia y Celulosa SA

Ence Energia Y Celulosa is engaged in the manufacture and commercialization of wood pulp and derivatives. Co. divides its activities into the following two business lines: Forest Division: Co. manages timberlands in South America and the Iberian Peninsula. Co. is involved in trading of wood, and supplies solid wood products including: plywood, sawn timber, parquet flooring and glued-edge paneling. Co. is involved in forest and environmental consulting. Pulp Division and Energy Production: Co. is engaged in the production of Eucalyptus globulus-based TCF and ECF paper pulp. Co. is also involved in the generation of electricity through biomass power producing plants.

Fomento de Construcciones y Contratas S.A.

Fomento de Construcciones y Contratas is the parent company of a group engaged in sanitation services, cleaning, maintaining, purification and distribution of water, construction of highways, hydraulic works, marine works, air and rail transport infrastructure, urban developments, housing, non-residential buildings, office buildings, toll highways, parking garages, marinas and water treatment plants. Co. is also engaged in the manufacture and sale of cement and cement infrastructures, such as precast concrete elements; and in the financial markets, and real estate development, leasing and tourism.

Inmobiliaria Colonial (COL SM)

Melia Hotels International S.A.

Melia Hotels International is the parent company of a group engaged in the acquisition, management and operation of hotels. Co. operates its hotel network in Germany, Argentina, Brazil, Bulgaria, Cabo Verde, Chile, China, Costa Rica, Croatia, Cuba, Egypt, Spain, United States, France, Greece, Netherlands, Indonesia, Italy, Luxembourg, Malaysia, Mexico, Panama, Peru, Portugal, Puerto Rico, United Kingdom, Dominican Republic, Singapore, Switzerland, Tunisia, Uruguay, Venezuela and Vietnam under the followings brandnames: Paradisus Resorts®, Melia Hotels & Resorts®, TRYP Hoteles® and Sol Hotels & Resorts®.

NH Hotel Group SA

NH Hotel is engaged in the operation and management of hotels throughout Spain, the Benelux countries, Germany, and South America.

Obrascon Huarte Lain SA

Obrascon Huarte Lain is an international concession and construction groups based in Spain. Co. maintains significant operations in 30 countries across all five continents. Co. is engaged in hospital and railway construction, transport infrastructure concessions, oil and gas, energy, solids handling and fire protection systems and international contracts. Co.'s operations are organized along four divisions: OHL Concesiones, OHL Construccion, OHL Industrial y OHL Desarrollos. Co. is also engaged in real state project developments of mixed use managed by the international hotel chains.

Red Electrica Corp. S.A.

Provider
Sabadell
Sabadell

Analysts
Research Department

Other Reports on these Companies
Other Reports from Sabadell

ResearchPool Subscriptions

Get the most out of your insights

Get in touch