Report
Research Department
EUR 100.00 For Business Accounts Only

IBERIAN DAILY 24 JANUARY + 4Q’21 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AENA, ATRYS HEALTH, BBVA, CELLNEX, FLUIDRA, IAG, NEINOR.

At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’21 results to be released over the coming days in Spain.

MARKETS YESTERDAY AND TODAY

Markets fall at the end of the week
The drops in Asia, the negative US opening with the collapse of Netflix (which fell by more than -25%), and heightening tensions between Russia and Ukraine dragged down the European indices, which ended the week with losses of around -1.5%. Thus, within the Euro STOXX, Consumer Goods and Retail stood out, being the only sectors that closed in positive territory, vs. the bigger drops in Basic Resources and Autos. On the macro side, in the Euro zone, January’s consumer confidence fell less than expected. In Japan, January’s Manufacturing PMI remained flat vs. December, whereas the Services PMI contracted significantly to levels below 50. On the geopolitical front, the US ordered the evacuation of family members from its embassy in Ukraine as military tension continues to increase. In US business results, Huntington disappointed, and Schlumberger came in better.
What we expect for today
The European stock markets would open with gains of around +0.5%, with a slightly better performance of growth stocks. Currently, S&P futures are up +0.75% (the S&P 500 ended -1.38% lower on Friday vs. the European closing bell). Volatility in the US rose (VIX 28.85). Asian markets are mixed (China’s CSI 300 -0.03% and Japan’s Nikkei +0.25%).
Today we will learn in the Euro zone January’s PMIs and in the US the Chicago Fed Activity index for December. In debt auctions: Germany (€ 6 Bn in 6M & 12M T-bills) and France (3M, 6M & 12M T-bills). In US business results, Halliburton, Zions Bancorp and Brown & Brown, among others, will release their earnings.
Underlyings
Aena SME SA

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.

Atrys Health

Atrys Health SA. Atrys Health SA, formerly Europath Biosciences SL, is Spain-based company primarily engaged in the predictive and personalized oncology therapies. It operates under Atrys brand name. Atrys is a clinical and translational research laboratory dedicated to the diagnosis, prognosis and treatment of cancer, including hematologic and solid malignancies. It has four areas of activity: Laboratory, Telemedicine, Radiotherapy, as well as Research and Development (R&D). The Company has its diagnostic laboratories and translational research in Barcelona and Granada, and offices in Madrid, Spain.

Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.

Cellnex Telecom S.A.

Cellnex Telecom SA is a Spain-based company engaged in the wireless telecommunications (telecom) business. Its activities are divided into three segments: Broadcasting infrastructure, Telecom site rental, as well as Network services and other. The Broadcasting infrastructure division comprises distribution and transmission of television (TV) and frequency modulation (FM) radio signals, operation and maintenance (O&M) of radio broadcasting network, as well as over-the-top (OTT) radio services, among others. The Telecom site rental division provides access to wireless infrastructure, primarily through infrastructure hosting and telecom equipment co-location, mainly for mobile network operators and other wireless and broadband telecom network operators. The Network services and other division offers connectivity services for a variety of telecom operators and radio communication, among others. The Company also develops 5th generation mobile networks (5G) through Alticom BV.

Fluidra S.A.

Fluidra is engaged in the manufacture and commercialization of accessories and specific products for swimming pools, irrigation, and water treatment and purification systems.

International Consolidated Airlines Group SA

International Airlines Group is an international scheduled airline and global premium airlines. Co.'s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports.

Neinor Homes SA

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.

Provider
Sabadell
Sabadell

Analysts
Research Department

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