Nick Malkoutzis via Macropolis | The stock phrases came thick and fast after Monday’s Eurogroup. “Great progress,” “very close” and “an agreement in a few weeks” were a few of the perennial quotes trotted out again by officials following a failed attempt to settle differences over Greek debt relief.
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While last week’s auction of installation licences for 3.000 MW of renewable energy was very successful, many companies ended up not being awarded anything. So the government has decided to hold another auction with similar characteristics. But this time it will only be for renewable and photovoltaic energy.
Tubacex has clocked up an order book worth 700 million euros in high tech tubular solutions for the gas and oil extraction, petrochemical and energy generation sectors. This figure is a record for the company. A contract in Iran represents about two-thirds of the existing premium product backlog or 560 million euros.
The damping of the refugee crisis and the strength of the economy have weakened German voters’ desire for a radical change. If Angela Merkel is re-elected as chancellor, the financial markets are likely to function normally.
In the last twenty years, the contribution from listed Spanish companies’ overseas business has not stopped growing. In line with the 2016 figures, this has reached 65.5% of the total, a record level which is almost 20 percentage points higher than 10 years ago.
At the end of 2016, the Italian government approved the setting up of an up to 20 billion euros fund to provide financing for banks with problems of solvency and/or liquidity like (MPS). It’s good news for Italy’s financial system and for the country’s risk premium that international funds are showing interest in buying MPS’ unproductive assets.
Francisco Vidal | The emphasis put on the Federal Reserve’s actions and the US’ economy’s favourable performance over the last few years led to the debate over the possibility of the euro and the dollar reaching parity, which gained momentum at end-2016 and at the start of 2017. But the euro’s fundamentals are currently better than expected and, in the future, can count on the support of the ECB.
European equities first quarter results so far beat analysts expectations for revenues, showing that a recovery in demand is driving sales. In fact, analysts at Carax-Alphavalue show themselves “struck” by the Q1 releases with frequent mentions of better top lines due to emerging market demand, for which read China.
Air Europa and Ryanair have formed an alliance under the terms of which the former will supply the latter’s long haul flights. Following the agreement, Ryanair’s website will sell the flights the Spanish airline offers from Madrid to 20 destinations in 16 countries in America. This is a market where Iberia is the traditional leader.
The European Commission has unveiled a document with an anual battery of recommendations to improve the Spain’s economy’s weak points. It has asked, for the sixth consecutive year, that the improves its public system for finding employment.