Sunday, January 29

Mixed sign for European futures in a day without Wall Street


MARKETS

Financial forecasts call for London’s FTSE to open 21 points higher to 7,564, Frankfurt’s DAX to open 43 points higher to 15,927, and Paris CAC to open 19 points higher to 7,162.

Asian stock markets were jittery as a series of Chinese economic data confirmed the deadly effect of coronavirus restrictions on consumer spending, prompting Beijing to ease monetary policy again.

Oil prices rose, with Brent crude futures hitting their highest level in more than three years, as investors bet supply would remain tight amid contention from major producers, while demand world was not affected by the omicron variant of the coronavirus.

MACROECONOMIC DATA

The day begins with the release of China’s fourth quarter GDP, along with December retail sales and the Asian giant’s unemployment rate. Already in Europe, Germany will publish the wholesale price index for December and Italy will publish the CPI for the same month, a figure that will also be released at the level of the entire eurozone. The New York Stock Exchange will be closed for a holiday, on the anniversary of the birth of Martin Luther King.

BUSINESS

The president of BBVA says that the bank will distribute more than 7,000 million euros to its shareholders between 2021 and 2022 (Reuters)

Carmen Godia sells 1% of Naturgy shares to IFM and fuels the war for control (El Confidencial)

El Corte Inglés agrees with Mutua to go public within six years (Expansión)

HSBC raises Sabadell’s recommendation from “hold” to “buy”, increases price target from 0.7 to 0.85 euros (Reuters)

Brussels requires large companies on the Spanish Stock Exchange to return more than 2,500 million euros of illegal aid (El Confidencial)

ArcelorMittal redeems 45 million treasury shares (Reuters)

The Aena car park contract is complicated by a resource from Empark (Five Days)

Spanish supermarkets are within reach of funds to accelerate their concentration (Five Days)

Poke House will double in size in 2022 and is already looking at the Stock Exchange (Expansion)

Abengoa says TerraMar’s binding offer has been extended until February 24 (Reuters)

Credit Suisse president Antonio Horta-Osorio resigns for breach of COVID-19 regulations (Reuters)

GlaxoSmithKline rejects a £50bn offer from Unilever for its consumer goods division; Unilever weighs raising bid for GSK assets, according to Bloomberg (Reuters)

The London Stock Exchange has proposed a special market so that shares of unlisted companies can be traded on the stock exchange on certain days, The Wall Street Journal (Reuters) reported on Saturday.

ECONOMY AND POLITICS

Britain is drawing up plans under which people will not be legally required to self-isolate after contracting COVID-19, The Telegraph (Reuters) reported on Sunday.

China’s economic growth was faster than expected in the final quarter of 2021, albeit still at its weakest pace in a year and a half, while the country’s central bank cut lending rates to cushion the slowdown in the world’s second economy (Reuters)

The number of job openings in the financial sector in London surpassed pre-pandemic levels at the end of 2021, in a sign that hiring in the sector has fully recovered from the COVID-19 crisis (Reuters)

POLITICS

– The President of the Government, Pedro Sánchez, meets in Madrid with the German Chancellor, Olaf Scholz, during his official trip to Spain, and then they participate in a joint press conference (16:00)

DEBT AUCTIONS

– The Treasury announces the placement objective in the auctions scheduled for the week

DIVIDENDS

– Inmobiliaria del Sur distributes a 2021 interim dividend of 0.14 euros gross per share

MARKETS

– Holiday in the USA (Martin Luther King Day). Closed markets



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