IBERIAN DAILY 11 JANUARY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AENA, ELECTRICITY SECTOR, GRIFOLS.Stability on the market
In a session lacking big drivers, European stock markets remained stable on a day of little volatility. In the IBEX 35, news focused on the rally by Grifols after the company announced it will take legal action and after it was learned that Gotham City closed its short positions. In the STOXX 600, the best-performing sectors on the day were Media and Real Estate, whereas cyclicals like Basic Materials and Travel & Leisure were once again the hardest hit on the session. With no noteworthy macro data releases, in Spain the left-wing Podemos party voted against the unemployment subsidy reform backed by the second deputy Prime Minister, Yolanda Diaz, forecasting a highly unstable legislature. In the US, the SEC approved the first crypto ETF that will replicate Bitcoin.
What we expect for today
European stock markets would open with gains of up to +1.0%, driven by the strong performance in Asia and the expected drop in core inflation in the US. Currently, S&P futures are up +0.27% (the S&P 500 ended up +0.34% vs. the European closing bell). Volatility in the US remained stable (VIX 12.69). Asian stock markets are rising (China’s CSI 300 +0.53%, Japan’s Nikkei +1.77%).
Today in Spain we will learn November’s industrial output, in Brazil December’s inflation, in Mexico November’s industrial output and in the US weekly jobless claims and December’s inflation.
Aena SME SA, formerly Aena SA, is a Spain-based company primarily engaged in the airports operation. Its activities are divided into four segments: Airports, which comprises Aeronautical subdivision, responsible for the management of airports, jetways, security, handling, cargo and fuel services, among others, as well as Commercial subdivision, including duty-free and specialty stores, restaurant services, car rental, as well as banking services and advertising; Services outside the terminal, which manages real estate assets, such as parking lots, warehouses and lands; International, which comprises operations of Company's subsidiary, Aena Desarrollo Internacional SA, that invests in other airport owners principally in Mexico, Colombia and the United Kingdom; and Others, encompassing corporate activities. It manages tourism, hub and regional airports, as well as heliports and general aviation areas. Furthermore, its destination range comprises Europe, the Americas, Asia and Africa.
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