Report
Research Department
EUR 100.00 For Business Accounts Only

INFORME DIARIO 08 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ALMIRALL, DIA, FCC, GRIFOLS, IAG, MEDIASET, REPSOL, TELEFÓNICA. EUROPA: AB INBEV, MUNICH RE, VIVENDI.


Europa en positivo con EE.UU cerrado
Jornada positiva en Europa con subidas en torno al 2%. Así en el Euro STOXX todos los sectores cerraron en positivo menos Viajes&Ocio, con Autos y Utilities liderando las ganancias. Por el lado macro, en la Eurozona el índice Sentix de septiembre mejoró más de lo esperado aunque continúa lejos del nivel pre Covid-19. Por otro lado, R. Unido advertirá hoy a la UE que el acuerdo de Brexit debe ser reescrito mientras que se acentuarán los preparativos para un no acuerdo si no se producen avances esta semana. En Alemania, la producción industrial avanzó en julio menos de lo esperado. En política monetaria, el BCE superó el medio billón de euros en compras de emergencia por la pandemia desde su entrada en vigor a finales de marzo de 2020. Mientras tanto, en EE.UU, desde la Fed, J. Powell reconoció que los tipos de interés pueden permanecer bajos durante muchos años. En México, la inversión fija de junio disminuyó menos de lo esperado. Por último, en Japón el PIB final del 2T’20 se revisó ligeramente a la baja y menos de lo esperado gracias al mejor comportamiento del consumo privado.
Qué esperamos para hoy
Los futuros apuntan a una apertura plana que debería ir a mejor a lo largo de la sesión. En estos momentos, los futuros del S&P cotizan con subidas del +0,5% (el S&P 500 permaneció cerrado por festividad). La volatilidad en EE.UU. (VIX 30,75%). Los mercados asiáticos cotizan mixtos (Japón +0,53% y Hong Kong -0,57%).
Hoy en la Eurozona el PIB final del 2T’20. En Italia las ventas al por menor. En subastas: Holanda (2.500 M euros en bonos 2028), España (7.000 M euros en letras a 6 y 12 meses), Finlandia (letras a 8 y 11 meses), Austria (800 M euros en bonos 2030 y 2034) y Bélgica (1.435 M euros en letras a 3 y 12 meses).
Underlyings
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.

Anheuser-Busch InBev N.V. ADS

Distribuidora Internacional de Alimentacion SA

Distribuidora Internacional De Alimentacion is a supermarket and convenience store group based in Spain. Co. is engaged in the retail trade of food through cut-price self-service supermarkets and franchise establishments. Co. is engaged in the operation of stores located in Spain, France, Portugal, Turkey, Argentina, Brazil and China.

Fomento de Construcciones y Contratas S.A.

Fomento de Construcciones y Contratas is the parent company of a group engaged in sanitation services, cleaning, maintaining, purification and distribution of water, construction of highways, hydraulic works, marine works, air and rail transport infrastructure, urban developments, housing, non-residential buildings, office buildings, toll highways, parking garages, marinas and water treatment plants. Co. is also engaged in the manufacture and sale of cement and cement infrastructures, such as precast concrete elements; and in the financial markets, and real estate development, leasing and tourism.

International Consolidated Airlines Group SA

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.

Mediaset Espana Comunicacion SA

Gestevision Telecinco is a television network company based in Spain. Co. heads a group of dependent companies, which form the Telecinco Group. Through its subsidiaries, Co. is engaged in the management and commercial exploitation of a television network. Co.'s television network acquires, produces, and distributes audiovisual content. Co. also sells the network advertising airtime, carried out by its subsidiary. In addition, Co. is involved in the sale of other advertising products; production of news programs; the production and sale of audiovisual property rights; and teleshopping.

Munich Reinsurance Company

Muenchener Rueckversicherungs-Gesellschaft is engaged in reinsurance, primary insurance and asset management. Co.'s international life business is written in the Life Division. The Global Clients and North America division manages accounts with international insurance groups. The Europe and Latin America division manages property-casualty business in Europe, Latin America and the Caribbean. The Germany, Asia Pacific and Africa division conducts property-casualty business in Germany, Africa, Asia, Australia and the Pacific Islands. The Special and Financial Risks division manages the classes of credit, aviation and space, agriculture, enterprise and contingency risks.

Repsol SA

Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.

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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