EUR 100.00 For Business Accounts Only

IBERIAN DAILY 29 DECEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ELECTRICITY SECTOR,

A transition week in Europe
Last week ended with gains at both sides of the Atlantic, >+2% in the US and with the Ibex near record highs. In the STOXX 600, Basic Resources and Pharma were the sectors rising the most, with Autos and Food being the worst performers. On the macro side, in the US, weekly jobless claims dropped unexpectedly. In Japan, November’s industrial output fell more than expected whereas December’s Tokyo inflation moderated more than expected in YoY terms. Meanwhile, the summary of opinions from the BoJ’s last meeting suggested more rate rises in 2026. In China, November’s industrial profits fell at the sharpest rate since Sept’24 (-13.1% YoY). Meanwhile, the Finance Minister announced last Friday that he will keep in 2026 an expansive fiscal policy, raising social benefits and betting on technology and high-quality manufacturing. On the geopolitical front, D. Trump and V. Zelensky did not reach an agreement on the possible peace in Ukraine but the former stated they held a productive conversation, seeing the peace agreement more imminent. On another note, China launched war exercises near Taiwan island, deploying troops, warships and combat aircraft.
What we expect for today
European stock markets would open with slight gains of around +0.3%. Currently, S&P futures are up +0.1% (the S&P 500 ended +0.3% higher vs. the European closing bell). Asian markets are mixed (China’s CSI 300 -0.5%, Japan’s Nikkei -0.4% and Korea’s Kospi +2.2%).
Today in the US we will learn November’s existing home sales.