EUR 100.00 For Business Accounts Only

IBERIAN DAILY 13 OCTOBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ROVI.

D. Trump threatens China again
European stock markets closed with losses last week in view of D. Trump’s new threats of new 100% tariffs on China last Friday and the suspension of negotiations after Beijing announced the control of rare minerals exports and an investigation into Qualcomm. The STOXX 600 ended last week with corrections, led by Autos, Media and Technology whereas defensive sectors such as Utilities, Househnold and Food saw the biggest gains. On the macro side, in France president E. Macron reappointed S. Lecornu as PM in an attempt to make progress on the government formation. In Mexico, August’s industrial output slowed down more than expected. In the US, the University of Michigan preliminary consumer confidence fell less than expected in August, with the current situation heading improving unexpectedly. In China, September’s exports and imports climbed more than expected, reporting the highest growth rate since March’25 despite the -27% drop to the US.
What we expect for today
European stock markets would open with gains of around +0.5% after the Trump administration showed itself to be willing to continue negotiating with China. Pharma companies would be pressured by the announcement of price cuts by AstraZeneca, while Defence companies would post gains once again. Currently, S&P futures are up +1.32% (last Friday the S&P 500 ended -1.42% lower vs. the European closing bell). Asian markets are falling (China’s CSI 300 -1.46% and Japan’s Nikkei -1.01%).
Today no relevant macroeconomic data will be released.