EUR 100.00 For Business Accounts Only

IBERIAN DAILY 07 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: N/A.

European markets ignore D. Trump
D. Trump’s latest threats to the euro zone through higher tariffs did not have any impact on stock markets, which continued to climb as seen earlier this week, with the Ibex hitting again 2008 highs. Thus, in the STOXX 600 Energy and Real Estate saw the biggest gains vs. Pharma and Technology that were the worst performers. On the macro side, in the euro zone, June’s retail sales climbed more than expected. In Germany, June’s factory orders slowed down, as opposed to expectations. In terms of tariffs, D. Trump imposed additional 25% tariffs to India due to the acquisition of Russian oil, raising them to 50%. He also threatened with 100% tariffs on chips and semiconductors imports unless companies manufacture them in the US or pledge to do so. In US business results, Walt Disney beat expectations, Uber and McDonalds were in line.
What we expect for today
European stock markets would open with slight gains, as seen this week. Currently, S&P futures are up +0.2% (the S&P 500 ended unchanged vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +0.08% and Japan’s Nikkei +0.60%).
Today BoE meeting, in Germany we will learn June’s industrial output and in Mexico July’s inflation. In US business results Ralph Lauren, Motorola and Gilead, among others, will release their earnings.