Renta 4 : European stock markets open almost flat (Eurostoxx futures -0.2%, S&P futures 0%), on a day in which the main reference will be the US March inflation data (2:30pm). The market expects further moderation in headline CPI (5.1%e vs 6% year-on-year), but a rebound in core CPI (5.6%e vs 5.5% previously) after five consecutive months of decline from a peak of 6.6%. We will see its impact on…
Deutsche Bank : The recent credit event in the US banking sector has caused considerable uncertainty about the outlook for policy rates. However, financial authorities have reacted strongly. In addition, the US labour market remains solid and inflation is becoming entrenched. In our view, this continues to justify a “higher for longer” official rate outlook. Although two-year US Treasury yields are falling from their cycle high, they remain, along with…
F.R. | Ibex 35 companies have only 3% female CEOs, 9% female board chairwomen and 19% female presence in senior management, according to the Barometer of Gender Diversity in Governing Bodies in Europe, based on the analysis of the main stock market indicators of 16 European markets and the Stoxx600 as of January 1st this year, carried out by ecoDa, the European Federation of Directors’ Organisations to which the Spanish…
Yields 4: European markets open higher (Eurostoxx futures +0.5%, S&P futures -0.1%) after a session of less to more on Wall Street, and on a day in which the most relevant will be the ISM services report in the US, which could fall in February (54.5e and 55.2 previously), and where the main focus will be on its price component, with upside risk after the strong rebound seen in the…
F.R. | The plenary session of the Senate is scheduled to debate and vote on the draft Securities Markets and Investment Services Act by urgent procedure. It is expected that the new regulation will be approved without major changes to the text published last September in the Official Gazette of the Spanish Parliament (BOCG). According to the sources consulted, the bill could return to Congress for examination and approval of…
Bankinter | Aena (AENA) airports recorded 16.9 million passengers in January, which is +2% compared to January 2019 (pre-virus) and compares with -2% in December. Compared to last year, it is up +63%, although it should be borne in mind that, at the beginning of last year, traffic was still affected by the Omicron variant. Analysis: Good news. Passenger traffic continues to improve in January, surpassing pre-virus levels for the…
Link Securities | Telefónica has signed a strategic partnership agreement with the Saudi Arabian telecommunications operator STC Group to develop joint business in the Middle East and North Africa. With the signing of this agreement, STC Group becomes a member of TEF’s Partners Program, an initiative of alliances with other operators launched by the Spanish company in 2011 and covering more than 65 markets in Europe, Latin America, the Middle…
Renta 4| Repsol (REP), through Solmatch, has more than 350 installations in Spain. Solmatch is a sustainable energy service focused on distributed or decentralised generation in Spain that was launched by the company in 2020. Repsol has agreements to develop solar communities (collective self-consumption). One of these agreements is with the Lasalle Schools, where the entities have committed to developing a total of 29 self-consumption parks in different schools located…
Banca March | Sometimes, when the sun’s rays hit the sea water and there is a big difference in temperature, an optical illusion takes place which creates visual effects that can lead us to think that a boat is capable of “flying” several metres above the horizon. This effect, a mirage, is called Fata Morgana. Is this effusive start to 2023, in which global stock markets are up more than…
Norbolsa | Iberdrola has surpassed 7,500 employees at its US subsidiary Avangrid, while at the same time generating a total of 70,000 jobs in the country through its purchases and investments. As the electricity company explained in a statement, the United States is the main destination for its investments, with more than $21,500 million (€19,723 million) for the three-year period 2023-2025. Regulatory stability and the commitment of the different administrations…