IBERIAN DAILY 06 JUNE (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AMADEUS, BANKING SECTOR, ELECTRICITY SECTOR, IAG, IBERDROLA.Bucket of cold water from the ECB
Lagarde’s insistence that more rate hikes are necessary, along with the poor US non-manufacturing ISM data, halted the gains on European stock markets. In the Euro STOXX, we highlight the gains in Telecoms and Basic Materials, while Consumer Goods and Travel & Leisure closed with losses of around -1.5%. On the macro side, in the euro zone May’s final services PMI was cut to 55.1 (due to revisions in France and Germany, as well as a significant drop in Italy), while the SENTIX investor sentiment index for June fell more than expected. In the US, May’s non-manufacturing ISM fell more than expected, with a sharp drop in orders and employment. In Japan, household spending fell more than expected in April, as did real salaries.
What we expect for today
The European stock markets would open with drops of around -0.15%. Currently, S&P futures are up +0.10% (the S&P 500 ended down -0.43% vs. the European closing bell). Volatility in the US rose (VIX 14.73). Asian stock markets are mixed (China’s CSI 300 -0.10%, Japan’s Nikkei +0.74%).
Today in Germany we will learn April’s factory orders, in Spain April’s industrial output and in the euro zone April’s retail sales.
Amadeus is a transaction processor for the global travel and tourism industry. Co. provides transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). Co. acts both as a worldwide network connecting travel providers and travel agencies through a processing platform for the distribution of travel products and services (through the Distribution business), and as a provider of a portfolio of IT solutions which automate certain business processes (through the IT solutions business).
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.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.