IBERIAN DAILY 21 JANUARY + 4Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: LAR, NEINOR HOMES.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 4Q’24 results to be released over the coming days in Spain.
The Ibex near 12,000 points
Even though US stock markets were closed due to Martin Luther King day, all eyes were on D. Trump’s inauguration and the first battery of measures promised to be signed immediately including no tariffs to Europe. Thus, most European indices closed with gains near 0.5%, with the Ibex lagging behind to some extent. In the STOXX 600, most sectors ended with gains, led by Autos and Basic Resources vs. the worse performance of Utilities and Energy. In the Euro zone, it was the first day of the Davos Economic Forum, where I. Schnabel (ECB) outlined that inflation is in the right direction, adding there is still room for further rate cuts. In the US, D. Trump signed around 200 executive orders, imposing 25% tariffs to Canada/Mexico starting on the 1st of February, declaring a national emergency at the southern border to halt immigration and eliminating the citizenship right by non-naturalised immigrant children and the withdrawal from the Paris agreement, among other measures.
What we expect for today
Stock markets would open with losses of -0.5%, where renewables will suffer from the first news of the Trump administration. Currently, S&P futures are up +0.2% (the S&P 500 was closed for Martin Luther King Day). Asian markets are mixed (China’s CSI 300 -0.07% and Japan’s Nikkei +0.33%).
Today in Germany we will learn January’s ZEW index, in the UK November’s number of unemployed and ILO unemployment rate, in Mexico November’s retail sales. Second day of Davos Economic Forum. In US business results, Netflix, 3M, United Airlines and KeyCorp, among others, will release their earnings.
COMPANY NEWS
4Q’24 Results previews
Along with our daily report, we include 4Q’24 results forecasts with all the previews for the coming days in Spain with our qualitative opinion and the expected impact on the market. Bankinter and Caixabank will release their results next week.
Lar Espana Real Estate SOCIMI SA is a Spain-based company primarily engaged in the operation of retail Real Estate Investment Trusts (REITs). The Company specializes in acquiring, managing and renting real estate assets within the Spanish market. Its business activities are divided into three segments: Shopping Centers, Offices, as well as Logistics. The Shopping Centers area is responsible for operation of a number of shopping malls, namely Txingudi, Las Huertas, Albacenter, Anec Blau, Hiper Albacenter, and Nuevo Alisal, among others. The Offices segment invests in office properties, such as Arturo Soria, Cardenal Marcelo Spinola, Egeo and Eloy Gonzalo. The Logistics division focuses on managing logistics warehouses, including Alovera I and Alovera II. The Company also owns a plot for residential properties development. It is a parent of a number of entities, such as Lar Espana Inversion Logistica SA, Gran Via Centrum Holdings SAU, Global Noctua and Puerta Maritima Ondara.
Neinor Homes SA, formerly Neinor Homes SLU, is a Spain-based company engaged in the real estate sector. The Company focuses on the design, construction and promotion of residential properties. It develops housing projects in various Spanish cities, such as Malaga, Madrid, Barcelona, Cordoba, Vizcaya, Alicante, Almeria and Gerona.
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