IBERIAN DAILY 28 APRIL + 1Q’26 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IBERDROLA.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 1Q’26 results to be released over the coming days in Spain.
Transitional session awaiting drivers
European stock markets consolidated levels, confident in the resumption of talks between the US and Iran in a week full of business results and central bank decisions. In the STOXX 600, Banks and Media led the gains, whereas Technology and Energy (despite the rising Brent prices) suffered the biggest corrections. On the macro side, in Japan, the BoJ decided to keep interest rates unchanged at 0.75%, but with a hawkish slant, as three of six members voted in favour of rate hikes and the new forecasts suggest core inflation far above 2.0% in 2026-27. On the geopolitical front, according to the Irani foreign minister, A. Araghchi, the country would be mulling a US request to resume negotiations, while Trump would not have been in agreement with the Irani three-stage peace plan leaving the nuclear question last. Separately, German chancellor F. Merz criticised the US strategy in Iran and does not see capacity to solve the conflict. In US business results, Verizon slightly beat expectations, while Domino’s Pizza released disappointing earnings.
What we expect for today
European stock markets would open with slight gains that could be reeled in throughout the session. Currently, S&P futures are flat (the S&P 500 ended +0.3% higher vs. the European closing bell). Asian markets are mixed (China’s CSI 300 -0.1%, Japan’s Nikkei -1.0% and South Korea’s Kospi +0.3%).
Today in Spain we will learn the 1Q’26 unemployment rate and March’s retail sales and in the US February’s FHFA housing price index and April’s Conference Board consumer confidence. In US 1Q’26 business results, Brown&Brown, General Motors, Coca-Cola, S&P Global, Sysco, PACCAR, AvalonBay, Starbucks, Booking and Visa, 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.
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