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China again drags down growth prospects
The European stock markets managed to keep minimal earnings over most of the session despite the poor activity data in China and the bearish US opening (also dragged down by the poor Empire manufacturing index). Thus, within the Euro STOXX, the best-performing sectors were Leisure and Household Goods vs. the poor performance of sectors related to commodities, such as Basic Resources or Energy. On the macro side, in the US, August’s Empire manufacturing index disappointed after falling sharply. In China, the Govt. could guarantee the debt of real estate developers through state-owned companies. No 2Q’22 earnings were released yesterday in the US.
What we expect for today
The European stock markets would again open with slight gains. Currently, S&P futures are up +0.4% (the S&P 500 ended +0.2% lower vs. the European closing bell). Volatility in the US increased slightly (VIX 19.95). Asian markets are flat (China’s CSI 300 and Japan’s Nikkei).
Today we will learn in the US, industrial output, utilisation of installed capacity, housing starts and building permits (all for July), in the Euro zone and Germany, the Zew index for August, and in the United Kingdom, June’s ILO unemployment rate. In US business results, Home Depot, Walmart and Jack Henry, among others, will release their earnings.
IBERIAN DAILY 16 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IAG.China again drags down growth prospects
The European stock markets managed to keep minimal earnings over most of the session despite the poor activity data in China and the bearish US opening (also dragged down by the poor Empire manufacturing index). Thus, within the Euro STOXX, the best-performing sectors were Leisure and Household Goods vs. the poor performance of sectors related to commodities, such as Basic Resources or Energy. On the macro side, in the US, August’s Empire manufacturing index disappointed after falling sharply. In China, the Govt. could guarantee the debt of real estate developers through state-owned companies. No 2Q’22 earnings were released yesterday in the US.
What we expect for today
The European stock markets would again open with slight gains. Currently, S&P futures are up +0.4% (the S&P 500 ended +0.2% lower vs. the European closing bell). Volatility in the US increased slightly (VIX 19.95). Asian markets are flat (China’s CSI 300 and Japan’s Nikkei).
Today we will learn in the US, industrial output, utilisation of installed capacity, housing starts and building permits (all for July), in the Euro zone and Germany, the Zew index for August, and in the United Kingdom, June’s ILO unemployment rate. In US business results, Home Depot, Walmart and Jack Henry, among others, will release their earnings.
Underlying
International Consolidated Airlines Group SA
International Airlines Group is an international scheduled airline and global premium airlines. Co.'s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports.
Provider
Sabadell
Research Department
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