Report
EUR 100.00
For Business Accounts Only
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 3Q’22 results to be released over the coming days in Spain.
The Ibex exceeds 8,000 points
November kicked off to the same positive trend as that seen at the end of October, with most European stock exchanges ending with gains despite the poor session on US markets, awaiting the Fed meeting to be held today. Thus, in the Euro STOXX, Real Estate and Retail were the best-performing sectors vs. Media and Chemicals that were the worst performers. On the macro side, in the UK, October’s final manufacturing PMI was raised although remaining far from the growth zone and the correction in the real estate market continues with a -0.9% price drop in the past month. In the US, October’s manufacturing ISM dropped less than expected (although to May’20 lows) with the price component falling substantially below 50. Meanwhile, September’s job openings (JOLTS) climbed above expectations, as did construction spending. In China, a possible change in stance by the Govt. regarding Covid spurred the market. In US business results, Marathon Petroleum, Pfizer and Fox came in above expectations, and Sysco below.
What we expect for today
European stock markets would open with gains of up to +0.5% ahead of the Fed meeting. Currently, S&P futures are up +0.2% (the S&P 500 ended unchanged vs. the European closing bell). Volatility in the US fell (VIX 25.81). Asian markets are mixed (China’s CSI 300 +1.4% and Japan’s Nikkei -0.1%).
Today the Fed will hold its meeting, and in the euro zone we will learn the final manufacturing PMI, in Germany the unemployment rate, in Spain October’s manufacturing PMI and in the US ADP employment survey In US business results, Paramount, Booking and Ebay, among others, will release their earnings. In debt auctions: the euro zone will issue € 1.1 Bn in 97D t-bills and Germany € 1 Bn in bonds due 2031.
IBERIAN DAILY 02 NOVEMBER + 3Q’22 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: N/A.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 3Q’22 results to be released over the coming days in Spain.
The Ibex exceeds 8,000 points
November kicked off to the same positive trend as that seen at the end of October, with most European stock exchanges ending with gains despite the poor session on US markets, awaiting the Fed meeting to be held today. Thus, in the Euro STOXX, Real Estate and Retail were the best-performing sectors vs. Media and Chemicals that were the worst performers. On the macro side, in the UK, October’s final manufacturing PMI was raised although remaining far from the growth zone and the correction in the real estate market continues with a -0.9% price drop in the past month. In the US, October’s manufacturing ISM dropped less than expected (although to May’20 lows) with the price component falling substantially below 50. Meanwhile, September’s job openings (JOLTS) climbed above expectations, as did construction spending. In China, a possible change in stance by the Govt. regarding Covid spurred the market. In US business results, Marathon Petroleum, Pfizer and Fox came in above expectations, and Sysco below.
What we expect for today
European stock markets would open with gains of up to +0.5% ahead of the Fed meeting. Currently, S&P futures are up +0.2% (the S&P 500 ended unchanged vs. the European closing bell). Volatility in the US fell (VIX 25.81). Asian markets are mixed (China’s CSI 300 +1.4% and Japan’s Nikkei -0.1%).
Today the Fed will hold its meeting, and in the euro zone we will learn the final manufacturing PMI, in Germany the unemployment rate, in Spain October’s manufacturing PMI and in the US ADP employment survey In US business results, Paramount, Booking and Ebay, among others, will release their earnings. In debt auctions: the euro zone will issue € 1.1 Bn in 97D t-bills and Germany € 1 Bn in bonds due 2031.
Provider
Sabadell
Research Department
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