IBERIAN DAILY 14 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IAG, NEINOR, SACYR, TALGO.
The earnings season kicked off to a good start
It was a positive week for most European indices, driven by the earnings release of large banks in the US last Friday, with the Ibex closing above 11,700 points. Thus, in the STOXX 600, most sectors closed with gains (15/20), led by Pharma and Insurance vs. the bigger losses of Basic Resources and consumer Goods. On the macro side, in the US, September’s production prices climbed more than expected and the University of Michigan consumer confidence dropped slightly more than expected after two positive str...