IBERIAN DAILY 31 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AMPER, CAF, INDRA, REDEIA.The Ibex will try to hit 17,500 points the last session of the year
Despite the weakness of US indices yesterday, European stock markets consolidated gains of around +1.0%, with the peripheral segment being the best performer. In the STOXX 600, all sectors ended with gains, with Basic Resources, Banks and Consumer Goods being the best-performing sectors vs. Pharma, Food and Autos that were the worst performers. On the macro side, in Spain, December’s preliminary general inflation moderated less than expected to 2.9% YoY whereas the core data remained at the previous 2.6%. In the US, December’s Chicago PMI climbed more than expected and October’s CaseShiller home prices also rose more than expected. The Fed Minutes did not bring any surprises, showing a divided Fed but still with the majority in favour of new cuts if inflation continues to moderate. In China, December’s manufacturing PMI (both the official and that of RatingDog) climbed more than expected whereas the services PMI rose in line with expectations, both exceeding 50. On another note, according to Reuters the Chinese government will demand chip manufacturers to include at least 50% of domestic materials in the new production plans.
What we expect for today
European stock markets would open flat and with a slightly bearish bias in a session with low volume. Currently, S&P futures are down -0.2% (the S&P 500 ended -0.1% lower vs. the European closing bell). Asian markets are sliding (China’s CSI 300 -0.4%, Japan’s Nikkei and Korea’s Kospi are closed).
Today we will only learn weekly jobless claims in the US.
Amper is the parent company of a group engaged in the telecommunications industry. Co. and its subsidiaries are engaged in the research, development, manufacture, sale, repair and maintenance of electronic systems and telecommunication equipment. Co.'s range of expertise includes network management systems, local loop technology, switching center modernization systems, data communications systems, combat radio sets, parking meter engineering, installation and maintenance services, vehicle localization and navigation systems, and energy systems. Products include private and public telephones, digital commutation systems, and cellular phone equipment.
Ence Energia Y Celulosa is engaged in the manufacture and commercialization of wood pulp and derivatives. Co. divides its activities into the following two business lines: Forest Division: Co. manages timberlands in South America and the Iberian Peninsula. Co. is involved in trading of wood, and supplies solid wood products including: plywood, sawn timber, parquet flooring and glued-edge paneling. Co. is involved in forest and environmental consulting. Pulp Division and Energy Production: Co. is engaged in the production of Eucalyptus globulus-based TCF and ECF paper pulp. Co. is also involved in the generation of electricity through biomass power producing plants.
Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.
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