IBERIAN DAILY 27 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACCIONA.
Political instability returns in France
European stock markets fell, where we once again highlight the CAC (-1.7%), hit by the rising political risk. In the STOXX 600, 16 of 20 sectors fell, led by financials (Banks and Insurance), while defensive sectors like Telecoms and Consumer Goods showed the biggest gains. On the macro side, in France the finance minister, E. Lombard, suggested there is risk of an intervention by the IMF if Bayrou’s government falls in the no confidence vote. In the US, the Conference Board consumer confidence fell less than expected in August, a...