EUR 100.00 For Business Accounts Only

IBERIAN DAILY 08 OCTOBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: FCC.

Oil prices continue to rise
The European session improved by the end, with the IBEX leading the gains following the accumulated drops since October began (more than -2.5%), with sovereign debt yields and oil prices rallying, echoing the tension in the Middle East. In the STOXX 600, Consumer Goods and Banks posted the biggest gains, with Real Estate and Technology the worst performers. On the macro side, in the euro zone October’s Sentix investor confidence index recovered more than expected (but still in negative territory), and August’s retail sales rose less than expected. In Germany, August’s factory orders fell more than expected. From the ECB, F. Villeroy was in favour of a rate cut in the October meeting. In China, the NDRC (National Development and Reform Commission) press conference brought some disappointment, as no further fiscal measures were announced. In Japan, household spending recovered more than expected in August. In business results, in Asia, Samsung released disappointing earnings.
What we expect for today
Stock markets would open with drops of as much as -1.0%. Currently, S&P futures are flat (the S&P 500 ended -0.50% lower vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +5.3% but Hang Seng -7.5%, Japan’s Nikkei -1.15%).
Today in Germany we will learn August’s industrial output. In US business results Pepsi Co will release its earnings.