IBERIAN DAILY 10 JULY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS, CAF.Ibex above 14,300 points
European stock markets climbed >+.10% in a session with few macroeconomic references and despite the continued tariff uncertainty. In the STOXX 600, most sectors (17/20) ended with gains, led by Banks and Construction vs. Media and Basic Resources that posted the biggest drops. On the macro side, in the US, in the Fed minutes several members warned about the risks stemming from a more persistent impact from tariffs on inflation and even though most of them foresee lower rates in 2025 there is not sufficient consensus to cut rates in July. On another note, Kevin Hassett (White House Economic Adviser) and S. Bessent are apparently the main candidates to replace J. Powell as Fed chairman. In Mexico, June’s inflation moderated in line with expectations to 4.3% YoY. On the trade front, D. Trump threatened Brazil with 50% tariffs (with the US showing surplus with the country).
What we expect for today
European stock markets would open with slight gains of around +0.2%. Currently, S&P futures are down -0.24% (the S&P 500 ended +0.32% higher vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +0.52% and Japan’s Nikkei -0.67%).
Today in the US we will learn weekly jobless claims and in Brazil June’s inflation.
Aedas Homes is engaged in the housing development business in Spain. The company has a portfolio of approximately 1.5 million square meters of land that it develops for residential purpose. Co. develops multifamily homes for the housing market in Madrid, Catalonia, Levante and Majorca, Costa del Sol and Seville.
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