NEWS SUMMARY: BANKING SECTOR, COLONIAL, GRIFOLS, POSSIBLE TAX CHANGES. Doubts on the markets It was a session that improved in European stock markets after Nvidia’s results release, with the markets ending with moderate gains and the IBEX rising back above 11,600 points. Within the STOXX 600, Insurance and Energy led the gains, with Telecoms and Consumer Goods ending with the biggest losses. In the euro zone, November’s preliminary consumer confidence fell more than expected. On the macro side,...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: COLONIAL, GRIFOLS, IMPUESTOS, SECTOR BANCARIO. EUROPA: AIR LIQUIDE, LINDE. Dudas en los mercados Jornada de menos a más tras los resultados de Nvidia en las bolsas europeas, que terminaron con subidas moderadas y con el Ibex recuperando los 11.600 puntos. Así, dentro del STOXX 600, Seguros y Energía lideraron las ganancias, frente a Telecos y Bienes de Consumo que terminaron con las mayores caídas. En la Eurozona la confianza del consumidor prelim...
Buy the Pullback in MSCI ACWI and S&P 500 Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&P 500 holding above their respective bases at $117 and 5650-5670. We have discussed since mid-October how we would use any pre-election pullback in the MSCI ACWI or the S&P 500 (the U.S. remains our only country overweight) as an opportunity to add exposure, and that we see a high probability of significant upside going into year-end and the early part of 2025. This remain...
NEWS SUMMARY: CAIXABANK, ENDESA, GRIFOLS, POSSIBLE TAX CHANGES, TALGO. Russia shakes markets The threat of using nuclear weapons by Russia after Ukraine used its long-range missiles on Russian territory led to corrections in European stock markets that eased throughout the session after the Foreign Minister S. Lavrov stressed that Russia does not wish nor expect a nuclear war. Thus, in the STOXX 600, Real Estate and Pharma were the only sectors ending with gains vs. Banks and Automobiles that ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, GRIFOLS, IMPUESTOS ESPAÑA, TALGO. EUROPA: NOKIA. Rusia agita los mercados La amenaza de uso de armas nucleares por parte de Rusia después de que Ucrania utilizase sus misiles de largo alcance sobre territorio ruso deparó una sesión de caídas en Europa, que fueron moderándose a lo largo de la sesión después de que el ministro de exteriores ruso S. Lavrov remarcase que el país no desea ni espera una guerra nuclear. Así, dentro del STOXX 600...
NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. 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 3Q’24 results to be released over the coming days in Spain. Post-electoral phase in the US After the confirmation that the Republican Party obtained majority in the two parliamentary chambers and following some announcements or possible appointments...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. EUROPA: PROSUS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. Mercados en fase post-electoral Durante la semana pasada los índices mundiales entraron en la fase post elect...
NEWS SUMMARY: FERROVIAL, GRIFOLS, IBERDROLA. 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 3Q’24 results to be released over the coming days in Spain. US inflation continues to follow the script European stock markets ended with drops, although the US inflation data helped distance them from daily lows. In the STOXX 600 the best-performing sectors were Energy and Consumer Goo...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FERROVIAL, GRIFOLS, IBERDROLA. EUROPA: ASML, DEUTSCHE TELEKOM, PROSUS, SIEMENS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. La inflación estadounidense sigue el camino esperado Las bolsas europeas terminaron con caídas, aunque el dato de i...
>Spin-off of Real estate and Cement divisions completed - As part of the process announced back in May, last Friday FCC completed the spin-off its Real Estate and Cement businesses and gave the shares back to its shareholders. The new Inmocemento shares received by FCC shareholders (one share for each FCC share) are expected to start trading on the Spanish Stock Exchange today (12 November). The board of directors announced last Thursday an initial reference price of ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ALMIRALL, CELLNEX, GRIFOLS, GRUPO SAN JOSE. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. Trump lleva a los índices americanos a nuevos máximos históricos Semana marcada por las elecciones en EE.UU., las reuniones sin sorpresas de la Fed ...
NEWS SUMMARY: ALMIRALL, CELLNEX, ELECTRICITY SECTOR, GRIFOLS, GRUPO SANJOSE. 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 3Q’24 results to be released over the coming days in Spain. Trump leads US indices to all-time highs The week was marked by the US election, the meetings (with no surprises) from the Fed and BoS and Friday’s disappointment due to the lack of fiscal stimul...
>Q3 2024 results 13% above company compiled css - IAG released a strong set of Q3 2024 results with operating profit reported at € 2.013bn (+15% y-o-y), 19% above our estimates and 13% above company compiled consensus. This positive operational performance comes on the back of strong demand on all core markets leading to a passenger unit revenue increase of 1.2% (vs. our virtually flat expectation of 0.3%) despite an exceptionally strong comps and a capacity gr...
>Q3 2024 results 13% above company compiled css - IAG released a strong set of Q3 2024 results with operating profit reported at € 2.013bn (+15% y-o-y), 19% above our estimates and 13% above company compiled consensus. This positive operational performance comes on the back of strong demand on all core markets leading to a passenger unit revenue increase of 1.2% (vs. our virtually flat expectation of 0.3%) despite an exceptionally strong comps and a capacity gr...
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