More Downside to Lead to Buying Opportunity? Market dynamics remain largely bearish and unchanged, and we are sticking with our call that breaks of supports (3910 on S&P 500, $177.50 on IWM, and $279 on QQQ, all broken on Dec. 15) are likely to result in a test of the 2022 lows. The Nasdaq 100 (QQQ) is already testing its 2022 lows, but the S&P 500 and Russell 2000 (IWM) are still 6-9% above their 2022 lows. Depending on how the market responds to its 2022 lows, that could be a better area to i...
DBRS Morningstar released a commentary on the 9M 2022 results of large Spanish banks. Summary highlights from the commentary include: • Large Spanish banks posted a domestic aggregated profit of EUR 6.1 billion in 9M 2022 up from EUR 3.1 billion in 9M 2021, with all banks reporting a significant annual growth of Underlying Net Attributable Income. • The good domestic performance is explained by number of factors, including positive dynamics in Net Interest Income, which was up 6% Quarter-on-Qua...
Stick With Energy and Financials Indexes and Sectors remain extremely mixed which we believe is likely to remain the case moving forward. Attractive Sectors include Energy and Financials, (and to a lesser extent Staples and Utilities) and these areas remain our primary focus. S&P 500. The S&P 500 held above short-term support at the 200-day MA (currently 4446); as long as this level holds we view it as a bullish sign for the SPX and broad market, as it would mean the January breakdown below th...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Banco Bilbao Vizcaya Argentaria SA (BBVA or the Bank; rated A (high), Stable) and PNC Financial Services Group, Inc. (PNC, rated A (high), Stable) announced on November 16, 2020, the sale of BBVA's U.S. subsidiary BBVA USA Bancshares to PNC for USD 11.6 billion (EUR 9.7 billion). The deal, which was approved by both banks' boards is the second largest acquisition in the U.S. since the 2008 crisis. The transaction encompasses PNC absorbing all of BBVA's U.S. based activities except for BBVA Secur...
COMPAÑÃAS QUE APARECEN EN EL INFORME. ESPAÑA: BBVA, CAMBIOS IBEX, IAG, METROVACESA. EUROPA: AIRBUS, AIR LIQUIDE, CAMBIOS EUROSTOXX 50, SAFRAN, SAP, SECTOR BANCOS FRANCIA. Europa y el Ibex mantienen la racha Nueva jornada de subidas en las bolsas europeas impulsadas por el plan de estÃmulo europeo. En el Euro STOXX Autos y Seguros fueron los dos únicos sectores que no presentaron ganancias, frente a Bienes de Consumo y Retail que fueron los que mejor comportamiento relativo tuvieron. Por e...
Banco Bilbao Vizcaya Argentaria SA (BBVA or the Group; rated A (high), Stable Trend) launched on May 27, 2020 an inaugural EUR 1 billion Social Bond specifically aimed at mitigating the economic and social impact caused by the Coronavirus Disease (COVID-19) pandemic - the first European bank to do so. The bond is a Senior Debt instrument issued under the Group's Global Medium-Term Note (GMTN) programme, with a five-year maturity and an interest rate of Mid-Swap (MS) + 112 bps. This issuance is a...
Banco Bilbao Vizcaya Argentaria SA (BBVA or the Group; rated A (high), Stable) and Allianz SE (Allianz or the Insurer) announced on April 27, 2020, that they had reached an agreement to implement a strategic bancassurance partnership. The transaction encompasses the creation of an insurance joint-venture (JV) between Allianz and the Insurance arm of the Group, BBVA Seguros, with a 15-year agreement to distribute non-life insurance products manufactured by Allianz on an exclusive basis in Spain. ...
COMPAÑÃAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, BBVA, CAIXABANK, CIE AUTOMOTIVE, ENCE, SECTOR BANCOS ESPAÑA, TELEFONICA, UNICAJA. EUROPA: NOKIA, ORANGE, SAFRAN, SOCIÉTÉ GÉNÉRALE, VOLKSWAGEN Las bolsas festejan los resultados del medicamento de Gilead remdesivir Tercera jornada consecutiva de mercados al alza a ambos lados del Atlántico por los buenos test del medicamento contra el Covid-19 de Gilead (65% de mejora en pacientes). En Europa, el Ibex 35 fue el Ãndice que más subió d...
COMPAÑÃAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, BANKIA, DIA, AENA, ENCE, IAG, IBERDROLA, NH HOTELES, REPSOL, TELEFÓNICA, SECTOR TURÃSTICO EUROPA: AIRBUS, DAIMLER Consolidando niveles Nueva jornada de mercados al alza a ambos lados del Atlántico. En el Euro STOXX todos los sectores menos Farma y Telecom cerraron en positivo con Bancos y Seguros liderando las subidas. Por el lado macro, en España la tasa de desempleo subió menos de lo esperado hasta el 14,4% con 579.000 personas afect...
COMPAÑÃAS QUE APARECEN EN EL INFORME. ESPAÑA: BBVA, IBERPAPEL, MERLIN, SANTANDER, SECTOR SEGUROS. EUROPA: ADIDAS, ALLIANZ, LINDE Después de las caÃdas, tocan subidas Los mercados comienzan la semana en verde a la espera de resultados empresariales y con la mirada puesta en las reuniones de la Fed (miércoles) y BCE (jueves). En el Euro STOXX todos los sectores cerraron con ganancias, donde Autos, Bancos y Viajes&Ocio lideraron las subidas, mientras que EnergÃa y Media fueron los que peor...
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