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IBERIAN DAILY 30 DECEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AMPER, ENAGAS, TOURISM SECTOR.

Indecisive stock markets at the end of the year
In a mixed session and dragged down by profit taking in the US stock exchanges, European indices ended mixed with Italy’s MIB being the worst performer amid the strong correction of gold. In the STOXX 600, Real Estate, Telecommunications and Technology were the sectors rising the most, with Travel&Leisure, Banks and Insurance being the worst performers. On the macro side, in the US, November’s pending home sales rose more than expected. On the geopolitical front, D. Trump threatened Hamas to meet the peace agreement with Israel and end the disarmament while he warned Iran about a new attack if it resumes the nuclear programme. On another note, Russia warned it will harden the peace agreement conditions after the announcement that Ukraine attacked V. Putin’s residence.
What we expect for today
European stock markets would open without a clear direction, but with the defence sector recovering against a still challenging geopolitical environment.
Currently, S&P futures are unchanged (the S&P 500 ended +0.1% higher vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +0.3%, Japan’s Nikkei -0.4% and Korea’s Kospi -0.2%).
Today in Spain we will learn December’s preliminary inflation, in the US October’s home prices, in Brazil November’s unemployment rate and public accounts.