IBERIAN DAILY 28 MAY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: CAF, ELECTRICITY SECTOR, REPSOL, TALGO, UNICAJA.Low volume in Europe
It was a session of slight gains for European stock exchanges, with the US and UK markets closed for Memorial Day and Spring Bank Holiday, respectively, where the Ibex closed above 11,300 points. Thus, in the STOXX 600, all sectors with the exception of Technology, Pharma and Banks ended with gains, led by Utilities and Autos. On the macro side, in Germany May’s IFO remained at April’s levels, as opposed to expectations (the current situation component fell unexpectedly and that of expectations rose less than expected). On another note, the French president E. Macron bet on doubling the European budget in investments and on prioritising the purchase of European products in strategic sectors.
What we expect for today
Stock markets would open with slight gains of +0.2% and with the better performance of value. Currently, S&P futures are up +0.12% (the S&P 500 was closed yesterday). Asian stock markets are sliding (China’s CSI 300 -0.25%, Japan’s Nikkei -0.26 %).
Today in the US we will learn May’s consumer confidence and March’s home prices.
Ence Energia Y Celulosa is engaged in the manufacture and commercialization of wood pulp and derivatives. Co. divides its activities into the following two business lines: Forest Division: Co. manages timberlands in South America and the Iberian Peninsula. Co. is involved in trading of wood, and supplies solid wood products including: plywood, sawn timber, parquet flooring and glued-edge paneling. Co. is involved in forest and environmental consulting. Pulp Division and Energy Production: Co. is engaged in the production of Eucalyptus globulus-based TCF and ECF paper pulp. Co. is also involved in the generation of electricity through biomass power producing plants.
Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
Talgo is engaged in designing, manufacturing, repairing and maintaining the railway rolling stock, as well as the manufacturing, assembling, repairing and maintaining the engines, machinery and parts of the railway systems. Co. has an industrial presence in seven countries: Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and U.S.A. Co. has an active fleet in Europe, Asia and North America that comprises of 94 high-speed trains and more than 1,400 Talgo tilting passenger cars. Also, Co. purchases, redesigns, constructs, leases and sells all types of real estate.
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