EUR 100.00 For Business Accounts Only

IBERIAN DAILY 21 JULY + 2Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: INDRA.

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 2Q’25 results to be released over the coming days in Spain.

SP500 at new record highs
European stock markets ended last week with gains, driven by the new record highs hit by the S&P500, the good macroeconomic data released in the US and the good start to the earnings season despite the tariff tensions after the EU practically finished its second list of retaliation measures against D. Trump’s tariffs. Thus, in the STOXX 600, Industrials and Financial Services led the gains, whereas Luxury and Autos suffered the biggest losses. On the macro side, in the US June’s building permits and housing starts rose slightly above expectations, July’s University of Michigan consumer confidence improved slightly more than expected. In China, as expected, the BPoC kept the 1 &5Y benchmark loan rates unchanged at 3.0% and 3.5%, respectively. In Japan, the government coalition lost the majority in the Parliament elections last Sunday in addition to the defeat in the House of Representatives on Oct’24. On the trade front, according to the FT, the US would be studying the possibility of implementing tariffs of between 15% and 20% to the EU. In US business results, American Express, Schlumberger and 3M beat expectations.
What we expect for today
European stock markets would open with losses of around -0.5% in view of the uncertainty generated by the tariff situation. Currently, S&P futures are up +0.11% (the S&P 500 ended up +0.14% vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +0.3% and Japan’s Nikkei is closed).
Today in the US we will learn June’s leading indicator. In US business results, Verizon, Roper Technologies and Domino’s Pizza, among others, will release their earnings.