IBERIAN DAILY 28 JANUARY + 4Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: TALGO.At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’24 results to be released over the coming days in Spain.
China threatens the Nasdaq
Profit taking on European markets after Chinese low-cost AIs (DeepSeek uses cheaper chips, less energy and less data than its competitors) threatened the business model of NVIDIA and other tech companies on both sides of the Atlantic. In the STOXX 600, the best-performing sectors were Food and Chemicals, whereas Technology and Energy suffered the biggest losses (greater than -2.4%). On the macro side, in Germany January’s IFO improved more than expected, suggesting a better reading of the 1Q’25 GDP. In the US, new home sales rose more than expected in December. In US business results, AT&T beat expectations.
What we expect for today
Stock markets would open with slight gains, with technology stocks beginning to recover in a session where we will once again have tariff treats from Trump on the basic materials sector (Bessent wants to begin with a 2.5% monthly increase). Currently, S&P futures are flat (the S&P 500 ended +0.4% higher vs. the European closing bell). Asian markets are falling (China’s CSI 300 closed and Japan’s Nikkei -1.4%).
Today in Spain we will learn the 4Q’24 unemployment rate, in the US December’s durable goods orders, November’s housing prices and January’s Conference Board consumer confidence. In US business results, General Motors, Boeing, Invesco and Sysco, among others, will release their earnings.
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.
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