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End of tariffs?
European stock markets saw decreasing performance, with the exception of the Ibex, ending with slight drops after reciprocal tariffs were blocked by a US court. Thus, in the STOXX 600 most sectors (15/20) ended with drops, led by Utilities and Household vs. the bigger gains of Banks and Basic Resources. On the macro side, in Spain, April’s retail sales rose to the highest level in 2025. In the US the second reading of the 1Q’25 GDP improved 0.1pp to -0.2% q/y although private consumption was cut, April’s pending home sales dropped more than expected and weekly jobless claims rose more than expected. In Brazil, April’s unemployment rate dropped more than expected. On the commercial side, an Appeals Court temporarily resonated tariffs. In Japan, Tokyo’s inflation climbed more than expected whereas April’s retail sales rose more than expected and industrial output slowed down less than expected. In US Results, BestBuy and Costco beat expectations and Dell released disappointing figures.
What we expect for today
European stock markets would open with slight losses of up to -0.2%. Currently, S&P futures are down -0.10% (the S&P 500 ended +0.50% higher vs. the European closing bell). Asian markets are falling (China’s CSI 300 -0.36% and Japan’s Nikkei -1.1%).
Today in the euro zone we will learn April’s M3, in Spain May’s inflation, in Germany April’s retail sales, in the US April’s core consumption inflation and personal income and outlays and in Brazil 1Q’25 GDP.
IBERIAN DAILY 30 MAY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS.End of tariffs?
European stock markets saw decreasing performance, with the exception of the Ibex, ending with slight drops after reciprocal tariffs were blocked by a US court. Thus, in the STOXX 600 most sectors (15/20) ended with drops, led by Utilities and Household vs. the bigger gains of Banks and Basic Resources. On the macro side, in Spain, April’s retail sales rose to the highest level in 2025. In the US the second reading of the 1Q’25 GDP improved 0.1pp to -0.2% q/y although private consumption was cut, April’s pending home sales dropped more than expected and weekly jobless claims rose more than expected. In Brazil, April’s unemployment rate dropped more than expected. On the commercial side, an Appeals Court temporarily resonated tariffs. In Japan, Tokyo’s inflation climbed more than expected whereas April’s retail sales rose more than expected and industrial output slowed down less than expected. In US Results, BestBuy and Costco beat expectations and Dell released disappointing figures.
What we expect for today
European stock markets would open with slight losses of up to -0.2%. Currently, S&P futures are down -0.10% (the S&P 500 ended +0.50% higher vs. the European closing bell). Asian markets are falling (China’s CSI 300 -0.36% and Japan’s Nikkei -1.1%).
Today in the euro zone we will learn April’s M3, in Spain May’s inflation, in Germany April’s retail sales, in the US April’s core consumption inflation and personal income and outlays and in Brazil 1Q’25 GDP.
Underlying
Grifols (GRF SM)
Provider
Sabadell
Research Department
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