IBERIAN DAILY 16 JUNE (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, CAIXABANK, CHANGES IBEX, ELECTRICITY SECTOR, NEINOR HOMES, TELEFÓNICA.Geopolitical tensions in the Middle East halt stock market gains
The trade agreement between the US and China, and the solid inflation data in the US, were overshadowed by the increased geopolitical tensions between Iran and Israel. In the STOXX 600, the best-performing sectors and the only ones in positive territory were Energy, Utilities and Pharma, with Financial Services and Telecoms falling the most. On the macro side, May’s final inflation in Spain fell less than expected, as did the core figure (+2.2% vs. +2.15% expected and 2.4% previously). In the euro zone, April’s industrial output contracted more than expected and April’s trade balance reduced its surplus more than expected due to the commercial impact. In the US, June’s U. Michigan consumer confidence rose more than expected. In China, the M2, total financing, new loans and industrial output rose less than expected in May, whereas retail sales rose more than expected. On the geopolitical front, the US avoided the elimination of Iran’s supreme leader A. Khamenei by Israel and did not rule out the possibility of being involved in the conflict.
What we expect for today
European stock markets would open with slight drops that would be reeled in over the course of the session. Currently, S&P futures are up +0.2% (the S&P 500 ended -0.8% lower vs. the European closing bell). Asian markets are rising (China’s CSI 300 +0.1% and Japan’s Nikkei +1.2%).
Today in the US we will learn June’s Empire Manufacturing index.
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.
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.
Neinor Homes SA, formerly Neinor Homes SLU, is a Spain-based company engaged in the real estate sector. The Company focuses on the design, construction and promotion of residential properties. It develops housing projects in various Spanish cities, such as Malaga, Madrid, Barcelona, Cordoba, Vizcaya, Alicante, Almeria and Gerona.
Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.