Report
Research Department
EUR 100.00 For Business Accounts Only

IBERIAN DAILY 25 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BBVA, CATALANA OCCIDENTE, CELLNEX, GRIFOLS, INDRA, MAS MÓVIL, MELIA, NH HOTELES.

MARKETS YESTERDAY AND TODAY

A positive start to the week for stock markets
European stock markets saw their gains from the opening bell increase in a session without relevant macroeconomic references but driven by news on Covid-19 treatments. In the Euro STOXX, Energy and Banks led gains while Real Estate and Travel&Leisure saw the biggest drops. On the macroeconomic level, in the US, Chicago Fed activity index rose in July les than expected. In Mexico, June’s retail sales climbed slightly less than expected. On another note, the US and Chinese governments announced that talks on the trade negotiations are in good track. In India, telephone companies will no longer use Huawei as provider.
What we expect for today
European stock markets would open with gains of +0.5%. Currently, S&P futures are up 0.4% (the S&P 500 ended up +0.3% vs. its price at the closing bell in Europe). Volatility in the US dropped (VIX 22.37%). Asian markets are mixed (Japan +1.6% and Hong Kong -0.5%).
Today in Germany we will learn August’s IFO and the 2Q’20 final GDP, in the US June’s FHFA home prices, July’s home sales and August’s Conference Board consumer confidence. As for auctions, Spain will issue 77 & 252-day T-bills and Germany bonds due 2022. In US Results, Best Buy, HP and Autodesk, among others, will release their earnings.
Underlyings
Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.

Cellnex Telecom S.A.

Cellnex Telecom SA is a Spain-based company engaged in the wireless telecommunications (telecom) business. Its activities are divided into three segments: Broadcasting infrastructure, Telecom site rental, as well as Network services and other. The Broadcasting infrastructure division comprises distribution and transmission of television (TV) and frequency modulation (FM) radio signals, operation and maintenance (O&M) of radio broadcasting network, as well as over-the-top (OTT) radio services, among others. The Telecom site rental division provides access to wireless infrastructure, primarily through infrastructure hosting and telecom equipment co-location, mainly for mobile network operators and other wireless and broadband telecom network operators. The Network services and other division offers connectivity services for a variety of telecom operators and radio communication, among others. The Company also develops 5th generation mobile networks (5G) through Alticom BV.

Grupo Catalana Occidente S.A.

Grupo Catalana Occidente is an insurance group based in Spain. Co. is engaged in insurance and reinsurance activities, including commercial, life, disability, and automobile insurance. Co. is also engaged in the sale of annuities and pension funds. Co.'s operations are organized along two businesses: Traditional business (insurance) and Credit Insurance business. Co.'s main markets are located in Spain, Germany, United Kingdom, France and the Netherlands. Co. maintains a presence in more than 40 countries.

Indra Sistemas S.A. Class A

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.

Masmovil Ibercom SA

Masmovil Ibercom SA, formerly World Wide Web Ibercom SA, is a Spain-based company primarily engaged in the telecommunication sector. The Company focuses on the sale and distribution services for Internet, Data Center and Telecommunications. The Company's product and services portfolio comprises Internet access through Asymmetric Digital Subscriber Line (ADSL) and Symmetric Digital Subscriber Line (SDSL) technologies, Internet domains and Domains Management and Registration Service through IberDNS application, Web hosting, virtual servers, dedicated servers, telephony services and routers. The Company also offers collocation services through two Internet Data Centers located in Madrid and San Sebastian. It operates through subsidiaries, such as Embou Nuevas Tecnologias SL and Ebesis Sistemas SL, among others. The Company owns a number of brand names, such as Pepephone, Yoigo and Llamaya.

Melia Hotels International S.A.

Melia Hotels International is the parent company of a group engaged in the acquisition, management and operation of hotels. Co. operates its hotel network in Germany, Argentina, Brazil, Bulgaria, Cabo Verde, Chile, China, Costa Rica, Croatia, Cuba, Egypt, Spain, United States, France, Greece, Netherlands, Indonesia, Italy, Luxembourg, Malaysia, Mexico, Panama, Peru, Portugal, Puerto Rico, United Kingdom, Dominican Republic, Singapore, Switzerland, Tunisia, Uruguay, Venezuela and Vietnam under the followings brandnames: Paradisus Resorts®, Melia Hotels & Resorts®, TRYP Hoteles® and Sol Hotels & Resorts®.

NH Hotel Group SA

NH Hotel is engaged in the operation and management of hotels throughout Spain, the Benelux countries, Germany, and South America.

Provider
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Sabadell

Analysts
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