EUR 100.00 For Business Accounts Only

IBERIAN DAILY 05 JANUARY (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ELECTRICITY SECTOR, SACYR.


The IBEX rallies and closes in on 10,200 points
In the end European stock markets recorded their first positive session of the year, backed by the solid performance of value, whereas growth was hit by the rising interest rates. In the STOXX 600, the sectors rising the most were Banks, Utilities and Pharma, whereas Retail, Travel & Leisure and Technology fell the most. On the macro side, in the euro zone the final services PMI for December was raised, but it continues to show a slight contraction in activity. In Germany, inflation rose in December, as expected. In the US, weekly jobless claims and private job creation (according to ADP) in December beat expectations.
What we expect for today
European stock markets would open with drops of around -0.6% awaiting US employment data. Currently, S&P futures are down -0.1% (the S&P 500 ended down -0.55% vs. the European closing bell). Volatility in the US rose (VIX 14.13). Asian stock markets are mixed (China’s CSI 300 -0.9%, Japan’s Nikkei +0.3%).
Today in the euro zone we will learn December’s preliminary inflation and in the US December’s employment data.