IBERIAN DAILY 13 FEBRUARY + 4Q’23 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS.
At the end of today’s report, and during the entire results season, we will include a presentation with previews for the 4Q’23 results to be released over the coming days in Spain.
Bullish momentum continues
In a session of few macro references, with Chinese markets closed all week and awaiting inflation data in the US today, yesterday the markets once again rose, breaking through new “ceilings”, and with the IBEX on the verge of 10,000 points. In the STOXX 600, all the sectors except Pharma closed with gains, led by Retail and Real Estate. From the ECB, the governor of the BoS, H. de Cos, stated that forecasts in March will be key to assessing the start of the rate cut cycle. In US business results, Trimble and Waste Management beat expectations.
What we expect for today
European stock markets would open with slight profit taking, awaiting the US inflation data. Currently, S&P futures are down -0.10% (the S&P 500 closed down -0.47% vs. the European closing bell). Asian stock markets are rising (China’s CSI 300 closed, Japan’s Nikkei +2.89%).
Today in Germany we will learn February’s ZEW index, in the UK the ILO unemployment rate and in the US general inflation and SME confidence (NFIB) for January. In US business results, Coca Cola, Moodys and AirBnB, among others, will release their earnings.