Bank Brunch/UBS and Swiss rules, BBVA and Banco de Sabadell, Rabobank'...

UBS pushes back on Swiss rules with its 31-page manifesto. BBVA and Banco de Sabadell set for the final push in takeover battle. Rabobank in the market with a green senior bail-in bond

Bank Brunch/UBS and Swiss rules, BBVA and Banco de Sabadell, Rabobank'...

UBS pushes back on Swiss rules with its 31-page manifesto. BBVA and Banco de Sabadell set for the final push in takeover battle. Rabobank in the market with a green senior bail-in bond

Bank Brunch/Spanish bank ratings, digital euro innovation platform, sp...

Spanish bank ratings set to get upgraded again. ECB presents finding of the digital euro innovation platform. Bank bond performance

Bank Brunch/Spanish bank ratings, digital euro innovation platform, sp...

Spanish bank ratings set to get upgraded again. ECB presents finding of the digital euro innovation platform. Bank bond performance

INFORME SECTORIAL BANCOS ESPAÑA/EUROPA: EL MERCADO YA DESCUENTA RÉCORD...

El mercado ya descuenta récord de beneficios 2026. En los últimos seis meses el sector ha subido +17% (vs +9% IBEX y +4% ES 50) con una revisión de estimaciones a medio plazo de +11%.

IBERIAN DAILY 25 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: CAF, IBERDROLA, SANTANDER. Drivers lacking to hit new highs In a session without drivers, European stock markets were a mixed bag after Trump reaffirmed his support of NATO’s defence. In the STOXX 600, the best-performing sectors were cyclicals linked to raw materials like Basic Materials and Energy, but also the industrial subsector of Defence, whereas Construction and Financial Services ended with the biggest drops. On the macro side, in Germany the IFO worsened unexpectedly in ...

INFORME DIARIO 25 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, IBERDROLA, SANTANDER. EUROPA: TOTALENERGIES. Falta de catalizadores para llegar a nuevos máximos En una jornada sin catalizadores, las bolsas europeas cerraron mixtas después de que D. Trump reafirmase su apoyo a la defensa de la OTAN. En el STOXX 600 los mejores sectores fueron cíclicos ligados a las materias primas como R. Básicos y Energía pero también el subsector industrial de Defensa mientras que Construcción y S. Financieros terminaron...

Morning Crédit 22/09/2025

Fitch a upgradé la note de l’Italie de BBB à BBB+ - attente d’actions similaires sur les banques|BBVA relève les termes de son offre sur Banco Sabadell|

Bank Brunch/Credit Agricole + Banco BPM, BBVA + Sabadell, digital euro...

BBVA ups the offer for Banco de Sabadell; Credit Agricole considers a merger of its Italian bank with Banco BPM; Eurogroup reaches political agreement on digital euro; Bank bond performance

Bank Brunch/Deutsche Bank 3Q comments, Spanish covered ratings, Swedis...

Deutsche Bank's Investment Bank gears for another solid quarter; S&P raised the covered bond ratings for four Spanish names to ‘AAA'; Finansinspektion extends its risk-weights floors for Swedish mortgages and commercial real estate

Bank Brunch/Deutsche Bank 3Q comments, Spanish covered ratings, Swedis...

Deutsche Bank's Investment Bank gears for another solid quarter; S&P raised the covered bond ratings for four Spanish names to ‘AAA'; Finansinspektion extends its risk-weights floors for Swedish mortgages and commercial real estate

INFORME DIARIO 17 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, CAIXABANK. Caídas antes de la Fed Las bolsas europeas perdieron ayer más de lo ganado en la sesión del lunes ante las dudas de mayor presión impositiva en Europa y a pesar de unos datos macro muy sólidos en Estados Unidos. En el STOXX 600 todos los sectores menos R. Básicos terminaron con caídas, lideradas por los financieros Seguros y Bancos. Por el lado macro, en Alemania el índice ZEW de septiembre repuntó inesperadamente. En la Eurozona,...

IBERIAN DAILY 17 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: CAF, CAIXABANK. Corrections ahead of the Fed Yesterday corrections on European stock market cancelled out Monday’s gains amid doubts about higher fiscal pressure in Europe and despite the robust macroeconomic data released in the US. In the STOXX 600, all sectors except Basic Resources ended with drops, led by Insurance and Banks. On the macro side, in Germany, September’s ZEW index rose unexpectedly. In the euro zone, July’s industrial output climbed more than expected in MoM ter...

Bank Brunch/Sovereign ratings vs banks, CaixaBank AT1, UniCredit SNP b...

Convergence of sovereign credit quality a positive for some and negative for others; Another tender from CaixaBank to support AT1 issuance; UniCredit in the market with a 6NC5 senior non-preferred bond

Bank Brunch/Sovereign ratings vs banks, CaixaBank AT1, UniCredit SNP b...

Convergence of sovereign credit quality a positive for some and negative for others; Another tender from CaixaBank to support AT1 issuance; UniCredit in the market with a 6NC5 senior non-preferred bond

Credit Morning 09/12/2025

Fnac Darty: France's finance ministry requires prior approval for JD.com's acquisition of Ceconomy|CEO leaves ZF – strange move at this point in time|

Morning Crédit 12/09/2025

Fnac Darty : Bercy impose une autorisation préalable au rachat de Ceconomy par JD.com|CEO leaves ZF – strange move at this point in time|

IBERIAN DAILY 10 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: CHANGES IBEX, INDITEX, PUIG BRANDS, SANTANDER. IBEX holds on above 15,000 It was a session of little movement and few macro references on European stock markets after the fall of the French Govt. was confirmed. In the STOXX 600, the best-performing sectors were Basic Materials and Energy, with Autos and Construction falling the most. On the macro side, in the US, August’s SME confidence (NFIB) rose more than expected to its highest level since January. The preliminary annual revie...

INFORME DIARIO 10 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDITEX, SANTANDER, PUIG. El Ibex aguanta en los 15.000 puntos Jornada de poco movimiento y escasas referencias macro significativas en las bolsas europeas, una vez confirmada la caída del Gobierno en Francia. En el STOXX 600 los mejores sectores fueron R. Básicos y Energía frente a Autos y Construcción que fueron los que más cayeron. Por el lado macro, en EE.UU. la confianza de las PyMes NFIB de agosto repuntó más de lo esperado hasta el nivel más...

Morning Crédit 08/09/2025