IBERIAN DAILY 03 JULY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IBERDROLA, SANTANDER.
Lagarde admits progress made in inflation
European stock markets saw profit taking, where J. Powell’s still cautious comments from Sintra but more confident in the disinflation process moderated losses. In the STOXX 600 among the sectors that rose (8/20 sectors), Energy stood out (thanks to the good performance of Brent crude) vs. Banks, Insurance and Autos that were the worst performers, falling >-1.0%. On the macro side, in the euro zone June’s inflation moderated to 2.5%, in line with expectations, whereas the core data remained at 2.9%, above expectati...