EUR 100.00 For Business Accounts Only

IBERIAN DAILY 10 MARCH (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ELECTRICITY SECTOR, OHLA, SANTANDER.

Brent falls below US$ 100
There was strong volatility on the markets, with Brent crude rising, though then falling back due to the G7’s talks of releasing oil reserves (that will continue today) and its decision to initiate an international mission to progressively open the Strait of Hormuz, and lastly Trump’s announcement that the war in Iran could end soon and that sanctions on Russia will be reduced. This alleviated the drops on the stock markets (which today are rallying after Trump’s statements). Within the STOXX 600, despite the rally, only Energy ended in green, whereas Technology posted the smallest drops. By contrast, the biggest losses came in Real Estate (due to the rising debt curves) and Autos. On the macro side, in Germany January’s industrial output contracted unexpectedly. In the euro zone, March’s Sentix index was once again in negative territory, as expected. In Mexico, February’s inflation rose more than expected to 4.0%. In Japan, the final 4Q’25 GDP was raised slightly. In China, the trade surplus through Feb’26 set a new record for the period thanks to a rise in exports (21.8%) that was far above expectations.
What we expect for today
European stock markets would open with gains of around +1.0%, with cyclical and financial stocks leading the way. Currently, S&P futures are down -0.2% (the S&P 500 ended +0.4% higher vs. the European closing bell). Asian markets are rising (China’s CSI 300 +1.1%, Japan’s Nikkei +2.5% and South Korea’s Kospi +5.3%).
Today in the US we will learn February’s SME confidence (NFIB) and second-hand home sales.