IBERIAN DAILY 21 NOVEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: SANTANDER.Caution continues due to the geopolitical situation
European stock markets ended with slight corrections despite the initial gains, with all eyes on the tension in Ukraine and Nvidia’s results (that released good earnings after the closing bell). Thus, in the STOXX 600, Basic Resources and Pharma (for the second consecutive session) led gains vs. Automobiles (once more the worst performer) and Real Estate that ended with the biggest drops. From the ECB, L. de Guindos confirmed that the monetary policy will continue to be eased over the coming months, not seeing risks of inflation below the target. In US business results Nvidia, Snowflake and Palo Alto beat expectations but Target released disappointing earnings.
What we expect for today
Stock markets would open with slight gains of around +0.2%. Currently, S&P futures are down -0.2% (the S&P 500 ended +0.3% higher vs. the European closing bell). Asian markets are sliding (China’s CSI 300 -0.3%, Japan’s Nikkei -0.9%).
Today in the euro zone we will learn November’s preliminary consumer confidence, in the US November’s Philadelphia Fed index, October’s existing home sales and weekly jobless claims, and in Mexico September’s retail sales.
Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
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