IBERIAN DAILY 21 JANUARY + 4Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IBERDROLA, INDRA.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 4Q’25 results to be released over the coming days in Spain.
Euro STOXX 50 falls below 5,900 points
European stock markets saw a second session of profit taking against the backdrop of Trump’s tariff threats. In the STOXX 600, Technology and Media were the only sectors ending in positive territory, while Real Estate and Telecommunications suffered the biggest losses. On the macro side, in the UK, December’s number of unemployed rose more than expected whereas November’s (ILO) unemployment rate remained at 5.1% (in line). In Germany, January’s ZEW index improved more than expected. Meanwhile, the German government cut its 2026 growth forecast to 1.0% from 1.3% previously. From the Fed, the secretary of the Treasury, S. Bessent, outlined that president D. Trump will decide among K. Hassett, C. Waller, K. Warsh and R. Rieder as J. Powell’s replacement next week. At Davos World Economic Forum several EU members showed unanimity on D. Trump’s challenge on Greenland. In US 4Q’25 Results KeyCorp and US Bancorp beat expectations, DR Horton and 3M were in line, Fastenal released disappointing figures and Netflix announced better profits but disappointing guidance.
What we expect for today
European stock markets would open with moderate drops that should lead to slight gains throughout the sessions. Currently, S&P futures are up +0.33% (the S&P 500 ended -0.91% lower vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +0.36%, Japan’s Nikkei -0.49% and South Korea’s Kospi +0.48%).
Today in the UK we will learn December’s inflation, in Mexico November’s retail sales and in the US November’s building permits, October’s construction spending and December’s pending home sales. D. Trump at Davos. In 4Q’25 business results, Johnson&Johnson, Halliburton, The Travelers, United Airlines and Prologis, among others, will release their earnings
Iberdrola is a holding company. Through its subsidiaries, Co. operates in four segments: network business, which includes all the energy transmission and distribution activities, and other regulated activity originated in Spain, the U.K., the U.S. and Brazil; deregulated business, which includes electricity generation and sales businesses as well as gas trading and storage businesses carried on by Co. in Spain, Portugal, the U.K. and North America; renewable business, with activities related to renewable energies in Spain, the U.K., the U.S. and the rest of the world; and other businesses, including the engineering and construction businesses and the non-power businesses.
Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.
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