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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Iberdrola guapa

Spanish economy 15th April 2024

Iberdrola generates 10,489 GWh with renewable energy in Spain in 1Q2024, 19.4% up on last year

Link Securities| According to data from the energy balance sheet at the end of March reported by the company to the Spanish National Securities Market Commission (CNMV), summarised by Europa Press, Iberdrola (IBE) generated 10,489 GWh with renewable energy in Spain in 1Q2024, representing an increase of 19.4% over the same period and the highest in the last decade. This figure for the group’s renewable generation in Spain was driven…

Eurozona PMIs

European economy 15th April 2024

Eurozone industrial production rises by 0.8%, EU’s up 0.7% in February

CdM| Industrial production rose by 0.8% in the eurozone in February and by 0.7% in the European Union (EU) as a whole compared with the previous month, according to initial estimates from Eurostat, the EU’s statistical office. Compared with the same month last year, the indicator fell by 6.4% in the euro area and by 5.4% in the EU. In detail, and on a month-on-month basis, industrial production in the…

oil barrels

World economy 15th April 2024

International Energy Agency report cuts oil demand growth in 2024

BancaMarch : The organisation has pointed to a slowdown in demand in the first quarter of 2024, with a variation that stands at 1.6 million barrels per day, 120,000 barrels per day lower than previously estimated. The reasons include lower than expected consumption in OECD countries due to a warmer than usual winter and a drop in manufacturing activity. Thus, for 2024 as a whole, the IEA has lowered the…

siemens gamesa

European economy 15th April 2024

Siemens Gamesa wind turbine loses 22-ton blade in Norway

Norbolsa| A Siemens Gamesa wind turbine loses a 22-tonne blade in Norway. The company added that no one was injured in the incident. It is a blade that is part of the 4.X platform. Siemens Gamesa, owned by Siemens Energy, warned in 2023 of quality problems at its onshore unit, most of them related to certain rotor blades and main bearings on its two newest wind turbine platforms, the 4.

RBI

World economy 15th April 2024

India’s economy can overtake China’s if it can stay on track

Alicia García Herrero (Natixis) | Will India’s gross domestic product ever surpass that of China? Ten years ago, no one would have given this question much thought. But times are changing. The Chinese economy may now be more than five times larger than India’s, but India is growing much faster than China, and no one expects that to change any time soon. Already, since 2010, India’s economy has overtaken those…

BBVA vela atardecer

Spanish economy 15th April 2024

BBVA concludes buyback programme after acquiring maximum ceiling of €781M

Link Securities| The financial institution has reported the completion of the execution of its share buyback programme, having reached the maximum monetary amount of €781 million. With the acquisition of the last shares referenced below, the total number of shares acquired in execution of the Buyback Programme is 74,654,915 treasury shares, representing approximately 1.28% of BBVA’s share capital at this date. As indicated by BBVA, the purpose of the Buyback…

santander logo 655x317

Spanish economy 13th April 2024

Santander agrees $600m infrastructure-focused loan portfolio with Blackrock

Alphavalue/ Divacons| The Cantabrian bank has reached an agreement with BlackRock to finance infrastructures at an international level for a value of $600 million, one of the US fund manager’s main sources of growth in the short term. This is the first joint operation in this segment between the two entities, which are already partners in some areas within the asset management world. This is the latest example of a…

Ferrovial currantesCM

European economy 12th April 2024

Ferrovial holds first AGM in Amsterdam, stock up from 14th to 8th place on Ibex35

Link Securities | The company held its first AGM outside Spain yesterday, in Amsterdam, another step towards meeting its real goal of listing on the Nasdaq this year. “The market has proved us right,” emphasised the multinational’s chairman, Rafael del Pino, assessing the company’s historic turnaround. When we took the decision to list in the Netherlands, Ferrovial was ranked 14th on the Ibex-35; today we are in eighth place,” said…

LuxuryHouseMadrid

Spanish economy 12th April 2024

House purchases in Spain up 10% in February, square metre rises 3.5% to €1,649

According to figures released yesterday by the General Council of Notaries, the number of home sales and purchases in Spain rose by 10.3% year-on-year in February, to 53,142 units. The average price per square metre of homes sold stood at €1,649 m2, representing a year-on-year increase of 3.5%. By type of housing, sales of flats rose by 12% year-on-year in February to 41,474 units, while sales of single-family homes increased…

ACS novisimo

World economy 11th April 2024

ACS to refurbish hospital in Australia through subsidiary Cimic in deal worth €450M

Intermoney | ACS (ACS), through its Australian subsidiary Cimic, has been awarded a contract to refurbish a hospital in the state of New South Wales. The works will involve an investment of €450 million. The work will begin this year and will last until 2028. It will include the refurbishment of numerous departments of the hospital, as well as the construction of new facilities, including the vertical expansion of existing…