IBERIAN DAILY 01 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, INMOBILIARIA COLONIAL.MARKETS YESTERDAY AND TODAY
Europe ends the month with losses
Inflationary tensions and the messages conveyed by the ECB questioning the end of the current monetary stimulus measures shook European stock markets, leading to losses. Thus, in the Euro STOXX all sectors except Utilities and Banks closed with losses, led by Basic Materials and Telecoms. On the macro side, in the euro zone August’s inflation rose more than expected to 3% (highest data since 2011), although in the ECB, R. Holzmann insisted that this is temporary. His colleague K. Knot added a new hawkish comment, expecting to start the tapering in the 4Q’21. In Germany, August’s unemployment slowed less than expected. In China, Caixin manufacturing index also dropped (as well as PMI yesterday) more than expected to slowdown levels (
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.
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