EUR 100.00 For Business Accounts Only

IBERIAN DAILY 16 OCTOBER + 3Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: FERROVIAL, IBERDROLA, UNICAJA.

At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’25 results to be released over the coming days in Spain.

Mixed performance ahead of results
European stock markets saw significant dispersion, the CAC climbed +2.0%, the Ibex ended flat and the DAX fell. In the STOXX 600, which ended higher, the heavy gains of Consumer Goods stood out, followed by Media, whereas Insurance and Leisure saw the biggest drops. On the macro side, in Spain, September’s final inflation was raised unexpectedly to 3.0% YoY, with the core data ending at 2.4%. In the euro zone, August’s industrial output slowed down slightly less than expected. In the US the Fed’s Beige Book showed an economy growing at a pace between modest and zero, with the job market frozen and rising costs from tariffs. From the Fed, S. Miran continued to support rate cuts due to the impact from tariffs on growth. In Japan, August’s machinery orders fell unexpectedly. In geopolitics, India’s PM, N. Modi, would have accepted the proposal not to import Russian oil. In US 3Q’25 Results Morgan Stanley and Bank of America came in far above expectations, whereas Abbott Laboratories released disappointing figures.
What we expect for today
European stock markets would open with slight drops of less than -0.5%. Currently, S&P futures are up +0.1% (the S&P 500 ended -0.27% lower vs. the European closing bell). Asian markets are mixed (China’s CSI 300 -0.15% and Japan’s Nikkei +1.15%).
Today in the UK we will learn August’s monthly GDP and industrial output and in the euro zone August’s trade balance. In US business results Snap-on, US Bancorp, Travelers, M&T Bank and KeyCorp, among others, will release their earnings.