IBERIAN DAILY 20 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IAG.
European stock markets outperform US counterparts
Yesterday European stock markets once again performed well, widening the outperformance gap with the S&P 500 in this second half of the month. In the STOXX 600, the sectors rising the most were Autos, Consumer Goods and Chemicals (all more than +2.0%), compared to Real Estate, which was the only sector closing in the red, and the cyclicals Industrials and Energy (dragged down by the Brent rout), which rose the least. On the macro front, July’s housing starts beat expectations, whereas building permits fell more than expected...