Report
EUR 100.00
For Business Accounts Only
MARKETS YESTERDAY AND TODAY
Another poor week for the Ibex
It was a new session of corrections for European markets, which are far from stability after the emergence of the Omicron variant, with the Ibex 35 being the worst-performing index last week after sliding around -2.3%. Thus, in the Euro STOXX, the best-performing sectors were Insurance and Energy, whereas Household and Pharma posted the biggest losses. On the macro side, in the euro zone November’s final Services PMI was raised and in Spain November’s Services PMI climbed above expectations. On another note, the EC yesterday approved, as expected, the € 10 Bn of the next tranche of NGEU funds for Spain. In Germany, October’s factory orders fell, contrary to expectations. In the US, mixed job data, with a sharper-than-expected drop in November’s unemployment rate but with non-farm job creation far below expectations. Average hourly gains rose less than expected. October’s factory orders rose above expectations, as well as November’s non-manufacturing ISM.
What we expect for today
European markets would open with gains close to +1%, underpinned by comments from South Africa, where hospitalisations would have not increased despite the Omicron variant. Currently, S&P futures are up +0.5% (the S&P 500 ended +0.64% higher vs. its level at the European closing bell). Volatility in the US rose (VIX 30.60). Asian markets are mixed (China’s CSI 300 +0.4% and Japan’s Nikkei -0.36%).
Today in the euro zone the Eurogroup will meet, and we will learn December’s Sentix Investor Confidence, and in Mexico November’s Consumer Confidence.
IBERIAN DAILY 06 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: TOURISM SECTOR.MARKETS YESTERDAY AND TODAY
Another poor week for the Ibex
It was a new session of corrections for European markets, which are far from stability after the emergence of the Omicron variant, with the Ibex 35 being the worst-performing index last week after sliding around -2.3%. Thus, in the Euro STOXX, the best-performing sectors were Insurance and Energy, whereas Household and Pharma posted the biggest losses. On the macro side, in the euro zone November’s final Services PMI was raised and in Spain November’s Services PMI climbed above expectations. On another note, the EC yesterday approved, as expected, the € 10 Bn of the next tranche of NGEU funds for Spain. In Germany, October’s factory orders fell, contrary to expectations. In the US, mixed job data, with a sharper-than-expected drop in November’s unemployment rate but with non-farm job creation far below expectations. Average hourly gains rose less than expected. October’s factory orders rose above expectations, as well as November’s non-manufacturing ISM.
What we expect for today
European markets would open with gains close to +1%, underpinned by comments from South Africa, where hospitalisations would have not increased despite the Omicron variant. Currently, S&P futures are up +0.5% (the S&P 500 ended +0.64% higher vs. its level at the European closing bell). Volatility in the US rose (VIX 30.60). Asian markets are mixed (China’s CSI 300 +0.4% and Japan’s Nikkei -0.36%).
Today in the euro zone the Eurogroup will meet, and we will learn December’s Sentix Investor Confidence, and in Mexico November’s Consumer Confidence.
Provider
Sabadell
Research Department
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