Report
Research Department
EUR 100.00 For Business Accounts Only

INFORME DIARIO 21 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, BANKIA, CAIXABANK, MAPFRE, MELIÁ HOTELS, NATURGY. EUROPA: SOCIÉTÉ GÉNÉRALE.


Una sesión marcada por el miedo a nuevos confinamientos
En una sesión con el vencimiento trimestral de futuros y opciones las bolsas europeas sufrieron los temores a nuevos confinamientos ante los repuntes de casos de Covid-19 en Europa. Mientras que en EE.UU. las tecnológicas (sobre todo las FAANGs) y el consumo discrecional lastraron al índice a pesar de que la confianza del consumidor de la Universidad de Michigan subió más de lo esperado en septiembre, en el Euro STOXX Recursos Básicos y Farma fueron los de mejor comportamiento relativo frente a Bancos y Viajes & Ocios. En España, el gobierno de la comunidad de Madrid anunció restricciones de movilidad en 37 zonas que terminará pesando sobre la actividad regional. En EE.UU. parece haber un mayor distanciamiento en torno al paquete fiscal de estímulos donde los demócratas ahora piden 2,2 billones de dólares. En la Eurozona, según el FT, el BCE revisará su programa especial de compras de activos por la pandemia (PEPP) para adoptar cambios si son necesarios en el resto de sus programas.
Qué esperamos para hoy
Las bolsas europeas abrirían con ligeras caídas por las dudas que genera la tendencia al alza que muestran los contagios por Covid-19 en EE.UU. y Eurozona y el miedo a un nuevo confinamiento en R. Unido en una semana donde destacará la comparecencia de Powell en el Congreso. En estos momentos, los futuros del S&P cotizan con caídas del -0,6% (el S&P 500 cerró el viernes con caídas del -0,45% respecto al precio al que cotizaba al cierre de los mercados en Europa). La volatilidad en EE.UU. bajo (VIX 25,83%). Con Japón cerrado por festivo los mercados asiáticos cotizan con caídas (Hong Kong -1,78%) lastrados por los grandes bancos.
Hoy en EE.UU. índice nacional actividad de la Fed de Chicago (agosto). En subastas, Holanda (5.260 M euros en letras a 3, 6 y 9 meses), Alemania (8.000 M euros en letras a 6 y 12 meses), Bélgica (2.876 M euros en bonos a 5, 10 y 15 años) y Francia (5.900 M euros en letras a 3, 6 y 12 meses).
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.

Bankia S.A.

Bankia is a financial institution based in Spain. Co. is primarily engaged in operations in the banking sector. Co.'s business operations are structured into seven areas: Retail Banking, Business Banking, Private Banking, Asset Management and Bancassurance, Capital Markets and Holdings. Co. offers financial products and services to various customer segments, such as individuals, small and medium enterprises, large corporations, as well as public and private institutions. As of Dec 31 2014, Co. had total assets and total customer deposits of Euro233,648,603,000 and Euro106,806,698,000 respectively.

CaixaBank SA

Caixabank is an investment company based in Spain. Co. is involved in investment portfolio management activities across two areas: Services and Financial Business and Insurance. In the services area, Co. provides investment solutions for companies involved in the infrastructure, energy, services and entertainment sectors. In the financial business and insurance area, Co. is engaged in the investments for international banks, insurance and specialist financial services. Co. focuses most of its banking investments in India, China, the U.S., and Central and Eastern Europe with a particular interest in retail banking. Co. is also involved in the disinvestments activities.

Mapfre SA

Mapfre is an insurance company based in Spain. Co. is the parent company of a group engaged in the underwriting and provision of insurance in Spain and abroad. Insurance policies provided include: life, non-life, accident, home-owner, general and health. Through its subsidiaries, Co. is also engaged in the provision of reinsurance, the management of investment funds, pension funds and pension plans, real estate and related services. On the domestic market, Co.'s activities include managing investment funds, pension funds and pension plans, real estate and other service businesses.

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®.

Societe Generale S.A. Class A

Societe Generale is a universal banking and financial services group based in France. Co. is engaged in operations in areas such as retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Co.'s three segments are: French Retail Banking (FRB); International Retail Banking & Financial Services (IBFS); and Global Banking and Investor Solutions (GBIS). FRB offers products and services to individual, professional and business customers; IBFS comprises banking networks and consumer finance activities; and GBIS covers global activities of Corporate and Investment Banking. Co. maintains operations across 76 countries globally.

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