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INFORME DIARIO 04 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CELLNEX, TELEFÓNICA. EUROPA: AIRBUS, DEUTSCHE TELEKOM


La renta fija deja espacio a la bolsa
Los fuertes avances de las bolsas, apoyadas en la moderación en la rentabilidad de la deuda se vieron frenadas por el flojo dato de ISM manufacturero que abre la puerta a escenarios de estanflación en EE.UU. Dentro del STOXX 600, casi todos los sectores presentaron subidas (17/20) siendo los mejores Telecomunicaciones e Inmobiliario, mientras que Energía (fuertes correcciones del Brent después de la reunión de la OPEP+) y Farma terminaron con las mayores pérdidas. Por el lado macro, en la Eurozona el PMI manufacturero final de mayo empeoró una décima frente al dato preliminar. No obstante, el PMI de España mejoró mucho más de lo esperado (en niveles de 54,0 máximos desde mar’22) mientras que el de Italia se deterioró inesperadamente. En EE.UU. el ISM manufacturero de mayo se deterioró de forma imprevista y profundiza en zona de contracción. Por el contrario, el subíndice de precios se mantiene en niveles elevados. Por otro lado, la Agencia Internacional de la Energía advirtió que el desarrollo de las renovables en el mundo se está quedando por debajo de lo necesario para cumplir con los objetivos de C02 y calentamiento global para 2030.

Qué esperamos para hoy
Las bolsas abrirían con ligeras caídas del orden del -0,1%, lastradas por las dudas sobre el crecimiento de la economía americana. En estos momentos, los futuros del S&P 500 cotizan con subidas del +0,06% (el S&P 500 terminó ayer con avances del +0,25% con respecto al nivel al que estaba al cierre de las bolsas europeas). Los mercados asiáticos cotizan mixtos (CSI 300 chino +0,36%, Nikkei de Japón -0,24%).
Hoy en Alemania el número de parados. En Brasil el PIB final del 1T’24. En EE.UU. los pedidos de fábrica de abril y las vacantes de empleo (JOLTs) de abril.
Underlyings
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.

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.

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.

Telefonica SA

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.

Provider
Sabadell
Sabadell

Analysts
Research Department

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