IBERIAN DAILY 10 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ROVI, TALGO, TELEFÓNICA.Rally to kick off the week
It was a session of gains on both sides of the Atlantic, bringing the IBEX back above 11,200 points in a key week, with US inflation data (Wednesday) and the ECB meeting (Thursday). All the sectors of the STOXX 600 except Autos and Real Estate posted gains, led by Travel & Leisure and Chemicals. On the macro side, in the euro zone September’s Sentix investor confidence index deteriorated more than expected to its lowest level since January. From the ECB, ex-President Mario Draghi warned of the need to invest € 800 Bn to make the EU more competitive with China and the US. In Mexico, August’s inflation fell more than expected to 5.0% YoY. In China, August’s exports rose more than expected, while imports stagnated unexpectedly.
What we expect for today
Stock markets would open with a slight bearish slant. Currently, S&P futures are down -0.12% (the S&P 500 ended flat vs. the European closing bell). Asian markets are mixed (China’s CSI -0.19% and Japan’s Nikkei +0.40%).
Today in Spain we will learn July’s industrial output, in Germany July’s final inflation, in the UK July’s ILO unemployment rate and August’s number of unemployed and in the US August’s SME confidence (NFIB).
Laboratorios Farmaceuticos Rovi is engaged in the sale of its own pharmaceutical products and the distribution of other products for which it holds licenses granted by other laboratories for specific periods, in accordance with the terms and conditions contained in the agreements entered into with said laboratories.
Talgo is engaged in designing, manufacturing, repairing and maintaining the railway rolling stock, as well as the manufacturing, assembling, repairing and maintaining the engines, machinery and parts of the railway systems. Co. has an industrial presence in seven countries: Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and U.S.A. Co. has an active fleet in Europe, Asia and North America that comprises of 94 high-speed trains and more than 1,400 Talgo tilting passenger cars. Also, Co. purchases, redesigns, constructs, leases and sells all types of real estate.
Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.
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