IBERIAN DAILY 05 JANUARY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: INDRA, REPSOL, TALGO.Geopolitical turbulence
The first session of the year kicked off with gains for European stock markets, underpinned by the positive performance of Asian stock exchanges and renewed confidence in artificial intelligence. In the STOXX 600, Technology and Autos led gains vs. Real Estate and Media that were the worst performers in relative terms. On the macro side, in the euro zone, November’s M3 rose more than expected, whereas December’s final manufacturing PMI came in slightly below expectations (48.8). In the US December’s final manufacturing PMI was in line with expectations and November’s construction expenses beat expectations. On the geopolitical front, the US captured Venezuela’s president N. Maduro in a military operation, who will face drugs and arms trafficking charges in a US federal court. The vice-president D. Rodríguez has temporarily assumed the power in the country according to the Supreme Court although D. Trump has already warned that Washington will decide the country’s politics. Despite the turbulences, OPEC+ decided to keep the total production unchanged at its meeting despite some tensions between key members such as Saudi Arabia and the United Arab Emirates on Yemen conflict.
What we expect for today
European stock markets would open with gains of +0.5% in a session with low volume. Currently, S&P futures are up +0.15% (the S&P 500 ended +0.2% higher vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +1.9%, Japan’s Nikkei +3.0% and Korea’s Kospi +3.4%).
Today in the euro zone we will learn January’s Sentix index and in the US December’s manufacturing ISM.
Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.
Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
Talgo is engaged in designing, manufacturing, repairing and maintaining the railway rolling stock, as well as the manufacturing, assembling, repairing and maintaining the engines, machinery and parts of the railway systems. Co. has an industrial presence in seven countries: Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and U.S.A. Co. has an active fleet in Europe, Asia and North America that comprises of 94 high-speed trains and more than 1,400 Talgo tilting passenger cars. Also, Co. purchases, redesigns, constructs, leases and sells all types of real estate.
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