IBERIAN DAILY 30 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IBERDROLA.The US rallied and fuelled European markets
European markets saw an increasing performance yesterday, following the bearish opening due to the unrest as a result of the increase in Covid-19 cases in China although indices recovered after the US opening with the weekly jobless claims data. Thus, the Euro STOXX almost all sectors ended with gains, led by Technology and Pharma vs. the losses of Travel&Leisure and Consumer Goods. On the macro side, in Europe, November’s M3 fell more than expected. From the ECB, L. de Guindos announced further rate rises. In Spain, November’s retail sales dropped to negative territory. In the US, weekly jobless claims deteriorated in line with expectations.
What we expect for today
European stock markets would see a bullish opening after yesterday’s rally in the US and the good Asian session. Currently, S&P futures are down -0.37% (the S&P 500 ended +0.20% higher vs. the European closing bell). Volatility in the US rose (VIX 20.44). Asian markets are climbing (China’s CSI 300 +0.60% and Japan’s Nikkei +0.1%).
Today in Spain we will learn December’s inflation and in the US December’s Chicago PMI.
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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