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 1Q’26 results to be released over the coming days in Spain.
The Strait of Hormuz is blocked again, reversing the relief of European stock markets
European stock markets rallied last Friday after the announcement of Iran’s Foreign Affair Minister, A. Araqchi, that the Strait of Hormuz was open after the cease-fire reached in Lebanon. Thus, the STOXX 600 saw gains last week, led by Media and Technology whereas Energy (oil prices fell below US$ 88.00/b) and Utilities ended with the biggest corrections. On the macro side, in the euro zone, February’s trade surplus rose but less than expected. In China, the PBoC, as expected, kept the 1 & 5 Y loan rates unchanged at 3.0% and 3.5%, respectively. In geopolitics, D. Trump’s new threats to Iran and the blockade of US marines to Iran ships led to the closure of the Strait since Saturday and jeopardise the peace talks. In US business results, Truist Financial, Fifth Third and State Street beat expectations.
What we expect for today
European stock markets would open with drops >-1.0%, with energy and utilities faring better than cyclicals, hit again. Currently, S&P futures are down -0.6% (the S&P 500 ended practically unchanged vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +0.6%, Japan’s Nikkei +0.8% and South Korea’s Kospi +1%).
Today no relevant data will be released.
IBERIAN DAILY 20 APRIL + 1Q’26 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 1Q’26 results to be released over the coming days in Spain.
The Strait of Hormuz is blocked again, reversing the relief of European stock markets
European stock markets rallied last Friday after the announcement of Iran’s Foreign Affair Minister, A. Araqchi, that the Strait of Hormuz was open after the cease-fire reached in Lebanon. Thus, the STOXX 600 saw gains last week, led by Media and Technology whereas Energy (oil prices fell below US$ 88.00/b) and Utilities ended with the biggest corrections. On the macro side, in the euro zone, February’s trade surplus rose but less than expected. In China, the PBoC, as expected, kept the 1 & 5 Y loan rates unchanged at 3.0% and 3.5%, respectively. In geopolitics, D. Trump’s new threats to Iran and the blockade of US marines to Iran ships led to the closure of the Strait since Saturday and jeopardise the peace talks. In US business results, Truist Financial, Fifth Third and State Street beat expectations.
What we expect for today
European stock markets would open with drops >-1.0%, with energy and utilities faring better than cyclicals, hit again. Currently, S&P futures are down -0.6% (the S&P 500 ended practically unchanged vs. the European closing bell). Asian markets are climbing (China’s CSI 300 +0.6%, Japan’s Nikkei +0.8% and South Korea’s Kospi +1%).
Today no relevant data will be released.
Underlying
Red Electrica Corp. S.A.
Provider
Sabadell
Research Department
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