IBERIAN DAILY 25 NOVEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: BANKINTER, IBERDROLA, TELEFÓNICA, VISCOFAN.Stock markets take a break
European stock markets saw a slight rally amid progress in the peace negotiations in Ukraine and rate cut expectations in the Fed’s next meeting. In the STOXX 600, cyclicals sectors such as Basic Resources and Leisure were the best performers whereas Media and Household posted the biggest drop. On the macro side, in Germany November’s IFO fell unexpectedly, with drops in the expectations component. In Europe, vehicle sales rose 4.9% YoY in October. Separately, the EU ruled out making digital regulation more flexible in exchange for the US lowering steel tariffs. On the geopolitical front, Xi Jinping and D. Trump held a phone conversation where China maintained its stance on Taiwan as part of its territory. In 3Q’25 US business results, Agilent Technologies y Keysight released earnings in line with expectations.
What we expect for today
European stock markets would open flat, with a slight bearish slant, with all eyes on the peace talks, where the US and Ukraine may have reached an agreement, which Russia and Europe could oppose. Currently, S&P futures are down -0.13% (the S&P 500 ended +0.21% higher vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +1.02% and Japan’s Nikkei +0.1%).
Today in Germany we will learn the final 3Q’25 GDP, in the US September’s (FHFA) home prices, November’s Conference Board consumer confidence and October’s pending home sales, in Mexico September’s retail sales. In US Results Best Buy, Dell Technologies, Autodesk and HP, among others, will release their earnings.
Bankinter is the parent company of a group engaged in banking activities. Services provided include: investment banking; capital market services; financial services insurance; international services such as foreign exchange transactions and travelers' checks; wholesale corporate banking; and retail and private banking services. Co. offers its products and services through the following channels of distribution: branch network; telephone banking, interactive (software) banking; agents; and Internet banking. As of Dec 31 2014, Co. had assets totalling Euro57,332,974,000 and deposits totalling Euro29,966,129,000.
Iberdrola is a holding company. Through its subsidiaries, Co. operates in four segments: network business, which includes all the energy transmission and distribution activities, and other regulated activity originated in Spain, the U.K., the U.S. and Brazil; deregulated business, which includes electricity generation and sales businesses as well as gas trading and storage businesses carried on by Co. in Spain, Portugal, the U.K. and North America; renewable business, with activities related to renewable energies in Spain, the U.K., the U.S. and the rest of the world; and other businesses, including the engineering and construction businesses and the non-power businesses.
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.
Viscofan is the parent company of the Viscofan Group. Co. is divided into two major operational subgroups. The companies comprising the Naturin GmbH subgroup are engaged in the manufacture and distribution of artificial casings (small and big diameter collagen and plastics) for the meat industry. Through its wholly-owned subsidiary IAN, S.A., Co. also manufactures and distributes canned vegetables (asparagus, olives and tomato).
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