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INFORME DIARIO 09 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: AENA, ALMIRALL, CAMBIOS IBEX 35, ENAGÁS, IBERDROLA, SECTOR BANCOS. EUROPA: AIRBUS, DEUTSCHE TELEKOM.

El BCE subió 75 p.b. y apunta al 2,3% como nivel de llegada
Con la inflación disparada por encima del 9% en la Eurozona, el BCE respondió ayer con dureza subiendo el tipo de refinanciación hasta el 1,25% y el de depósito hasta el 0,75%. En su comparecencia, la presidenta C. Lagarde aseguró nuevas subidas en las próximas reuniones y volvió a aumentar las previsiones de inflación para 2023 del 3,5% al 5,5%, situando la tasa de 2024 en el 2,3%. Pese al endurecimiento de las condiciones monetarias, los mercados europeos cerraron con subidas, donde destacó el Ibex 35 (+0,90%). Así, en el Euro STOXX los financieros Bancos y Seguros registraron el mejor comportamiento relativo, frente a las mayores caídas en Inmobiliario y Retail. Por el lado macro, en R. Unido, la PM L.Truss presentó el plan para combatir la crisis energética topando la factura eléctrica para una familia típica en 2.500 libras anuales. En Europa, varios países se mostraron contrarios a poner un tope al precio del gas ruso a la espera de la reunión de hoy de Ministros de Energía, donde se debatirán las medidas para rebajar el precio de la electricidad. En EE.UU. el desempleo semanal cayó más de lo esperado. En México la inflación de agosto repuntó ligeramente más de lo esperado hasta el 8,7% interanual y 8,05% la subyacente. En China la inflación de agosto se moderó frente al repunte que se esperaba mientras que los precios de producción moderaron su ritmo de avance más de lo esperado.
Qué esperamos para hoy
Las bolsas europeas abrirían con ligeras subidas con un mejor comportamiento del sector tecnológico. En estos momentos, los futuros del S&P cotizan con subidas del +0,4% (el S&P 500 terminó ayer sin cambios con respecto al nivel al que estaba al cierre de las bolsas europeas). La volatilidad en EE.UU. bajó (VIX 23,61). Los mercados asiáticos cotizan con subidas (CSI 300 chino +1,2%, Nikkei de Japón +0,6%).
Hoy en la Eurozona reunión extraordinaria de los Ministros de Energía.
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.

Airbus SE

Airbus is an European Aeronautic Defense and Space company whose core business is the manufacturing of commercial aircraft, civil and military helicopters, commercial space launch vehicles, missiles, military aircraft, satellites and defense systems and defense electronics and the rendering of services related to these activities. Co. organizes its businesses into the following five operating divisions: Airbus Commercial, Airbus Military, Eurocopter, Cassidian and Astrium. In addition, Co.'s Other Businesses division engages in the development, manufacturing, marketing and sale of regional turboprop aircraft and aircraft components.

Almirall SA

Almirall is engaged in the acquisition, manufacture, storage, sale and mediation in the sale of pharmaceutical specialties and products and all manner of raw materials used to prepare pharmaceutical specialties and products. Also, Co. acquires, manufactures, storages, sales and mediates in the sale of cosmetics, chemical, biotechnological and diagnostic products for human, veterinary, agrochemical and food-industry use, as well as all manner of utensils, complements and accessories for the chemical, pharmaceutical and clinical industries. In addition, Co. is engaged in the acquisition, sale, lease, subdivision and development of land lots, land and properties of all kinds.

Deutsche Telekom AG

Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.

Enagas SA

Enagas is a gas transportation company based in Spain. Co. is engaged in the technical distribution and storage of gas through pipelines as well as the provision of regasification services. Co. and subsidiaries are engaged in the ownership, administration, storage, pipeline transportation, distribution flow, and sale of natural gas. As a transport company, Co. also provides gas and manages the gas infrastructures.

Iberdrola SA

Iberdrola is a holding company. Through its subsidiaries, Co. operates in four segments: network business, which includes all the energy transmission and distribution activities, and other regulated activity originated in Spain, the U.K., the U.S. and Brazil; deregulated business, which includes electricity generation and sales businesses as well as gas trading and storage businesses carried on by Co. in Spain, Portugal, the U.K. and North America; renewable business, with activities related to renewable energies in Spain, the U.K., the U.S. and the rest of the world; and other businesses, including the engineering and construction businesses and the non-power businesses.

Provider
Sabadell
Sabadell

Analysts
Research Department

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