EUR 100.00 For Business Accounts Only

IBERIAN DAILY 15 JANUARY (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AEDAS, ELECTRICITY SECTOR, GRIFOLS, NATURGY, REPSOL.


After the US inflation data all eyes will be on earnings
During the week, financial markets were watching the US inflation data, where the disappointment led to some temporary volatility on risk assets, although they ended up recovering, as did sovereign debt. With this in mind, the Euro STOXX 50 ended the week in positive numbers and near 4,500 points, with the DAX rising near +1.0%, while the IBEX 35 closed in negative numbers, falling around -1.0% to 10,100 points. The best-performing sectors were Media, Industrials and Technology, whereas Energy, Basic Materials and Banks fell the most. In China, new loans and total financing rose in December less than expected, as well as M2. On the macro side, in the UK the GDP rose +0.3% in November, slightly more than expected, but still suggesting a recession at the end of 2023. In the US, December’s producer prices unexpectedly fell. From the Fed, R. Bostic warned that the inflation data underpin a more cautious stance on rate cuts. In US business results, BofA and Citigroup released worse earnings than expected, whereas BlackRock, Wells Fargo, Delta Airlines and JP Morgan beat expectations.
What we expect for today
European stock markets would open with gains of around +0.5%. Currently, S&P futures are flat (the S&P 500 ended up +0.22% vs. the European closing bell). Asian stock markets are mixed (China’s CSI 300 -0.16%, Japan’s Nikkei +1.0%).
Today there are no noteworthy macro releases.