IBERIAN DAILY 11 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS.Ibex ended last week with daily gains
Last week ended without relevant corporate results or macroeconomic data and with the implementation of tariff not entailing market volatility. The focus will now be on the US inflation (Tuesday) and peace talks in Ukraine between the US and Russia (Friday). The Ibex registered the best week in the past 4 months, ending above 14,800 points, returning to annual highs and near 2007 highs. Thus, in the STOXX 600 almost all sectors (16/20) ended the week with gains, led by Banks and Insurance vs. Pharma and Telecommunications. In China, June’s inflation came in slightly better than expected (0%) although the PPI fell again more than expected, underscoring some scarcity in its economic recovery. In US business results, Alliant Energy beat expectations.
What we expect for today
European stock markets would open with gains of around +0.15%. Currently, S&P futures are up +0.15% (the S&P 500 ended +0.30% higher vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +0.10% and Japan’s Nikkei +1.85%).
Today in Mexico we will learn June’s industrial output.
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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