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’25 results to be released over the coming days in Spain.
Markets end week on doubtful note
It was a week of mixed performance on European stock markets, where some indices like the CAC and IBEX managed to recover part of what was lost the previous week, and all this despite the fear on regional US banks. In the STOXX 600, the best-performing sectors last week were Consumer Goods and Food, while Financials suffered the biggest routs. On the macro side, in the euro zone, September’s final inflation confirmed the preliminary 2.2% YoY figure and the core figure was raised to 2.4%. In France, S&P lowered the country’s credit rating one notch to A+ (stable). In China, the 3Q’25 GDP slowed its advance less than expected to 4.8% YoY, September’s industrial output rose more than expected and retail sales slowed in line with expectations. Meanwhile, the PBoC kept the 1Y and 5Y loan rate unchanged, as expected, at 3.0% and 3.5%, respectively. In Japan, the JIP party has announced that it will join the coalition government and will support S. Takaichi of the LDP party as new PM of the country. In US business results, American Express was in line, Fifth Third Bancorp and State Street beat expectations.
What we expect for today
European stock markets would open with gains near +0.8% with banks and cyclicals recovering, with a very small impact from doubts surrounding the ceasefire in Gaza. Currently, S&P futures are up +0.38% (the S&P 500 ended +0.15% higher vs. the European closing bell). Asian markets are rising (China’s CSI 300 +0.53% and Japan’s Nikkei +2.9%).
Today there are no noteworthy macro data releases. In US business results Steel Dynamics and Berkley, among others, will release their earnings.
IBERIAN DAILY 20 OCTOBER + 3Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ELECTRICITY SECTOR.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’25 results to be released over the coming days in Spain.
Markets end week on doubtful note
It was a week of mixed performance on European stock markets, where some indices like the CAC and IBEX managed to recover part of what was lost the previous week, and all this despite the fear on regional US banks. In the STOXX 600, the best-performing sectors last week were Consumer Goods and Food, while Financials suffered the biggest routs. On the macro side, in the euro zone, September’s final inflation confirmed the preliminary 2.2% YoY figure and the core figure was raised to 2.4%. In France, S&P lowered the country’s credit rating one notch to A+ (stable). In China, the 3Q’25 GDP slowed its advance less than expected to 4.8% YoY, September’s industrial output rose more than expected and retail sales slowed in line with expectations. Meanwhile, the PBoC kept the 1Y and 5Y loan rate unchanged, as expected, at 3.0% and 3.5%, respectively. In Japan, the JIP party has announced that it will join the coalition government and will support S. Takaichi of the LDP party as new PM of the country. In US business results, American Express was in line, Fifth Third Bancorp and State Street beat expectations.
What we expect for today
European stock markets would open with gains near +0.8% with banks and cyclicals recovering, with a very small impact from doubts surrounding the ceasefire in Gaza. Currently, S&P futures are up +0.38% (the S&P 500 ended +0.15% higher vs. the European closing bell). Asian markets are rising (China’s CSI 300 +0.53% and Japan’s Nikkei +2.9%).
Today there are no noteworthy macro data releases. In US business results Steel Dynamics and Berkley, among others, will release their earnings.
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Sabadell
Research Department
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