BancaMarch: US SME confidence improves. The NFIB index beat expectations and rose in July to 91.9 from the previous 91.9 and above the 91.3 expected. With this new advance, confidence was at an eight-month high, but still at very low levels and far from its historical average (98.1). Among the components, we highlight that 25% of the small companies surveyed indicate that they intend to raise their selling prices, the…
Intermoney| Yesterday was a bad day for the Ibex (-0.6%) which saw the effect of the new tax on banks in Italy also felt in the Madrid selective, which, however, at least maintains an advance in 2023 of +13%, in line with the EuroStoxx. Among the stocks that suffered the most were Santander and BBVA, which dropped between 2 and 3 points. Unicaja and Sabadell also had a day to…
Bankinter : July final CPI confirms +6.2% year-on-year preliminary, from +6.4% previously. It is +0.3% month-on-month, which also confirms preliminary. Core inflation +5.5% year-on-year in July from +5.8% prev. Assessment: Food prices (+11% year-on-year in July vs. +13.7% pre) remain the main contributor to CPI. In addition, energy prices (+5.7% year-on-year) are affected by the base effect of the elimination of an EEG tax in July 2022.
Link Securities | Acciona (ANA) informed the CNMV that the credit rating agency DBRS Ratings GmbH (DBRS Morningstar) confirmed Acciona’s rating of ‘BBB’, as well as its short-term rating of ‘R-2 (middle)’, both with a ‘Stable’ trend. These ratings are Investment Grade. Meanwhile, according to Capital Bolsa.com, the Federal MP for Kingston, Amanda Rishworth, the Federal MP for Boothby, Louise Miller-Frost, the South Australian Minister for Infrastructure and Transport, Tom…
Norbolsa | DIA achieves profits in Spain for the first time in six years. The company presented its first-half results with a net profit of €6.3 million, compared to the almost €55 million it lost in the first half of 2022. This is mainly due to the transformation process that the company is carrying out where one of the strategies is to reduce the commercial network, since 2018 they have…
Renta 4: Stock markets point to a flat opening (Eurostoxx futures -0.07%), after a Monday session where there were no major corporate references after the conclusion of the 2Q23 results season (in the absence of Bayer today). In China, weak July trade balance figures were published, with exports falling at their fastest pace since February 2020 (-14.5% vs 12.5% estimated and 12.4% previously) and imports surprisingly down when an improvement…
Norbolsa| Brent oil prices remain at their highest levels in recent weeks, supported by expectations of lower US rates, further production cuts by OPEC+, following the reductions already announced by Russia and Saudi Arabia, and hopes for a recovery in demand in China.
CdM: Investor confidence in the euro area rebounds more than expected. In August, the Sentix index stands at -18.9 from -22.5 in July. The consensus expected it to fall further to -23.4. This puts an end to three consecutive months of declines. The data was driven entirely by an increase in the future expectations indicator, which rose 7.3 points to -17.3. However, the figure still “underscores current recessionary conditions” and…
Link Securities | Iberdrola (IBE) has reduced its debt maturities in 2023 to less than €2 billion, after obtaining €4.855 billion in new financing and extending the duration of €6.1 billion so far this year, as reported on Monday by Expansión newspaper based on Europa Press. Specifically, the electricity company has received the support of the market, having executed some 30 operations between loan extensions and new financing in the…
Norbolsa | Telefónica (TEF) secures growth targets in Germany despite the 1&1 and Vodafone agreement. Telefónica reported that operator 1&1 has contractual obligations until 2025, regardless of Vodafone’s announcement to cooperate on German national roaming. Telefónica confirmed that thanks to the momentum of its new O2 brand, it expects to grow in line with targets, highlighting volume growth in all its divisions