EUR 100.00 For Business Accounts Only

IBERIAN DAILY 09 DECEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: N/A.

Stock markets await the Fed meeting
It was a transition session for European stock markets, awaiting the Fed’s meeting and newsflow on the war between Russia and Ukraine. In the STOXX 600, Industrial and Banks led the gains whereas Real Estate and Consumer Goods were the worst performers. On the macro side, in Germany, October’s industrial output rose much more than expected. In the euro zone, December’s SENTIX index climbed in line with expectations and even though it remains at levels consistent with activity stagnation, the improvement in the expectations index suggests that it will continue to recover over the coming months. P. Kazimir from the ECB suggested there are no arguments to modify the rate pattern that should consider the upward risks on inflation. On the geopolitical front, Ukraine’s president V. Zelenski suggested that the peace negotiations proposed by US are on a standstill due to territorial concessions. The US administration would give green light to NVIDA to export H200 chips to China. On the US business front, Paramount submitted a US$ 108 Bn hostile bid for Warner Bros in an attempt to beat Netflix.
What we expect for today
European stock markets would open flat with a negative slant. Currently, S&P futures are unchanged (the S&P 500 ended up +0.12% vs. the European closing bell). Asian markets are mixed (China’s CSI 300 -0.67%, Japan’s Nikkei +0.24% and Korea’s Kospi -0.26%).
Today in the US we will learn November’s SMEs confidence index, unit labour costs, the final 3Q’25 non-farm productivity and October’s job openings (JOLTS), and in Mexico November’s inflation.