EUR 100.00 For Business Accounts Only

IBERIAN DAILY 12 OCTOBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: DIA, ENAGÁS, PROSEGUR.

MARKETS YESTERDAY AND TODAY

Stock exchanges rise, with the Ibex being last in line
It was a positive session for European and US markets, while the stimulus saga in the US continues after the Trump administration decided to back off in their decision to put an end to talks. Thus, in the Euro STOXX, Technology (as was the case in the US) and Media saw the highest gains while Automobiles and Financial Services were the worst performers. In Spain, the government declared the state of emergency in the region of Madrid. In the UK, the government extended the Covid-19 aid programme to companies for 6 additional months. In Japan, September’s production prices fell more than expected.
What we expect for today
The European stock markets would open with gains, fuelled by growing expectations of a Democrats’ victory in the US, new aid packages, and the possibility that China takes new steps to open its economy to the rest of the world. Currently, S&P futures are up +0.33% (the S&P 500 closed largely unchanged vs. its price at the closing bell in Europe). Volatility in the US decreased (VIX 25). Asian markets are mixed (Hong Kong +2.2% and Japan -0.25%).
Today no relevant references will be released. Debt auctions: France (€ 5.5 Bn in 3, 6 & 12M T-bills) and Germany (3 & 6M T-bills).