Report
EUR 100.00
For Business Accounts Only
MARKETS YESTERDAY AND TODAY
The market stabilises
The Euro STOXX 50 exceeded the 4.250-point resistance level in a session with low volatility, with the next target being 2007 highs of 4,489 points. In the Euro STOXX, Automobiles and Telecoms led gains while Banks, Travel&Leisure and Utilities were the only industries ending with drops. On the macro side, in the UK, the 2Q’21 GDP was in line with expectations thanks to the robustness of private consumption, which offset the drop in investments. In the euro zone, June’s industrial output slowed down slightly more than expected. In the US, weekly jobless claims fell in line with expectations whereas July’s production prices rose unexpectedly to record highs. In Mexico, the BdM raised reference interest rates to 4.50% (+25bps) for the second consecutive time this year due to rising prices (currently 5.8% vs. 3% target).
What we expect for today
The increase in Delta cases in Asia (China has closed the Tantian harbour, the country’s third-largest) hint at a bearish opening in Europe. Currently, S&P futures are down -0.1% (the S&P 500 ended +0.4% higher vs. its price at the closing bell in Europe). Volatility in the US dropped slightly (VIX 15.59). Asian markets are mixed (China’s CSI -0.7% and Japan’s Nikkei +0.1%).
Today in Spain we will learn July’s final inflation.
IBERIAN DAILY 13 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ELECTRICITY SECTOR.MARKETS YESTERDAY AND TODAY
The market stabilises
The Euro STOXX 50 exceeded the 4.250-point resistance level in a session with low volatility, with the next target being 2007 highs of 4,489 points. In the Euro STOXX, Automobiles and Telecoms led gains while Banks, Travel&Leisure and Utilities were the only industries ending with drops. On the macro side, in the UK, the 2Q’21 GDP was in line with expectations thanks to the robustness of private consumption, which offset the drop in investments. In the euro zone, June’s industrial output slowed down slightly more than expected. In the US, weekly jobless claims fell in line with expectations whereas July’s production prices rose unexpectedly to record highs. In Mexico, the BdM raised reference interest rates to 4.50% (+25bps) for the second consecutive time this year due to rising prices (currently 5.8% vs. 3% target).
What we expect for today
The increase in Delta cases in Asia (China has closed the Tantian harbour, the country’s third-largest) hint at a bearish opening in Europe. Currently, S&P futures are down -0.1% (the S&P 500 ended +0.4% higher vs. its price at the closing bell in Europe). Volatility in the US dropped slightly (VIX 15.59). Asian markets are mixed (China’s CSI -0.7% and Japan’s Nikkei +0.1%).
Today in Spain we will learn July’s final inflation.
Provider
Sabadell
Research Department
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