IBERIAN DAILY 30 MAY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, CAF, TALGO.Stock markets did not welcome the US debt agreement
Europe reacted with little enthusiasm to the US debt ceiling agreement, being more focused on the debt curve compression. In the Euro STOXX, Retail and Household were among the few sectors in positive territory, whereas Banks and Technology saw the biggest drops again. On the macro side, in Spain, the president P. Sánchez moved forward the elections to 23/07 after the defeat in the regional elections. In the US, president J. Biden was confident that both chambers will approve the proposal to raise the debt ceiling. In Japan, April’s unemployment rate fell unexpectedly.
What we expect for today
European stock markets would open with slight gains, with all eyes on the inflation data to be released. Currently, S&P futures are up +0.23% (the S&P 500 was closed for the US holiday). Asian stock markets are mixed (China’s CSI 300 -0.85%, Japan’s Nikkei +0.35%).
Today we will learn in Spain April’s retail sales and May’s preliminary inflation, in Germany May’s inflation, and in the Euro zone April’s M3 supply and May’s economic climate index. In debt auctions: Italy (€ 11 Bn in bonds due 2028, 2033 and CCT due 2028).
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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