EUR 100.00 For Business Accounts Only

IBERIAN DAILY 19 NOVEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ELECTRICITY SECTOR, MAPFRE.

Profit taking continues
Yesterday European markets fell further, with losses of up to -2% and the IBEX falling below 16,000. Doubts surrounding AI and the Fed’s monetary policy remain, while attention is now turning towards Nvidia’s results release today. In the STOXX 600, all the sectors closed with losses, led by Banks and Basic Materials, with Real Estate and Household Goods falling the least. On the macro side, in the US August’s factory orders rose in line with expectations and November’s NAHB residential sector confidence index rose more than expected. In the euro zone, the EU plans to create a critical mineral storage centre. In Japan, September’s machinery orders rose more than expected. In US business results, Home Depot released disappointing earnings.
What we expect for today
European stock markets would open flat, with a slightly bullish slant, although with doubts still swirling around tech stocks. Currently, S&P futures are down -0.10% (the S&P 500 ended -0.22% lower vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +0.68% and Japan’s Nikkei -0.35%).
Today in the euro zone and UK we will learn October’s final inflation and in the US the Fed meeting minutes, building permits and October’s housing starts. In US business results, Nvidia, Palo Alto and Target, among others, will release their earnings.