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Europe unable to stomach the war
European stock markets kicked off the week with drops after the failed talks between the US and Iran. The IBEX led the losses but remained above 18,000 points. In the STOXX 600, the best-performing sectors were Energy (due to the rising oil prices) and Financial Services, whereas Travel & Leisure and Telecoms ended with the biggest losses. On the macro side, in the US March’s second-hand home sales fell more than expected. In China, the M2 index and March’s loan stock slowed their advance more than expected. Meanwhile, the trade surplus fell in March to a low since Nov’21 in view of the sharp rise in imports and the quasi-stagnation of exports (exports to the US fell -27.8% YoY vs. the previous -11.2%). In geopolitics, Iran and the US would resume talks, where Uranium enrichment (Iran is requesting a 5-year freeze vs. 20 years from the US), the destination of its stockpiles and the management of the Strait of Hormuz would be the main talking points. In 1Q’26 US business results, Goldman Sachs beat expectations.
What we expect for today
European stock markets would open with gains of +0.5%, with the energy sector hit by the drop in crude oil prices. Currently, S&P futures are up +0.1% (the S&P 500 ended +0.9% higher vs. the European closing bell). Asian markets are rising (China’s CSI 300 +0.3%, Japan’s Nikkei +2.3% and South Korea’s Kospi +3.1%).
Today in Spain we will learn March’s final inflation and in the US SME confidence and March’s production prices. The talks between Lebanon and Israel will start today. In US business results, JP Morgan, Wells Fargo and Citigroup will release their earnings, among others.
IBERIAN DAILY 14 APRIL (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: N/A.Europe unable to stomach the war
European stock markets kicked off the week with drops after the failed talks between the US and Iran. The IBEX led the losses but remained above 18,000 points. In the STOXX 600, the best-performing sectors were Energy (due to the rising oil prices) and Financial Services, whereas Travel & Leisure and Telecoms ended with the biggest losses. On the macro side, in the US March’s second-hand home sales fell more than expected. In China, the M2 index and March’s loan stock slowed their advance more than expected. Meanwhile, the trade surplus fell in March to a low since Nov’21 in view of the sharp rise in imports and the quasi-stagnation of exports (exports to the US fell -27.8% YoY vs. the previous -11.2%). In geopolitics, Iran and the US would resume talks, where Uranium enrichment (Iran is requesting a 5-year freeze vs. 20 years from the US), the destination of its stockpiles and the management of the Strait of Hormuz would be the main talking points. In 1Q’26 US business results, Goldman Sachs beat expectations.
What we expect for today
European stock markets would open with gains of +0.5%, with the energy sector hit by the drop in crude oil prices. Currently, S&P futures are up +0.1% (the S&P 500 ended +0.9% higher vs. the European closing bell). Asian markets are rising (China’s CSI 300 +0.3%, Japan’s Nikkei +2.3% and South Korea’s Kospi +3.1%).
Today in Spain we will learn March’s final inflation and in the US SME confidence and March’s production prices. The talks between Lebanon and Israel will start today. In US business results, JP Morgan, Wells Fargo and Citigroup will release their earnings, among others.
Provider
Sabadell
Research Department
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