On Friday, S&P raised its rating on the main Spanish banks by one notch. The decision came in the wake of the rating upgrde by the same agency for Spain’s public debt on March 23, so its “a logical move,” according to Renta4.
European buybacks seem to be increasing by approximately 25 billion euros to a universe of 420 shares (excluding the banks) with a combined market capitalisation of 8 billion euros.
Glen Kuecker and Kris Hartley | Technological fixes such as smart cities make a system more complex, resulting in “wicked problems” that require ever more extensive technological remedies.
S. Ramakrishna Velamuri via Caixin | A leading Indian business daily reported on March 6 that Chinese corporations had made investments of $5.2 billion in Indian early- and growth-stage companies in 2017, and the figure for the first two months of 2018 had already crossed $1 billion.
Ferrovial will have a new source of dividends in 2019, when it will begin to receive them from one of the motorways it operates in Texas (US), the North Tarrant Express, the 21,4 kilometres long road linking Dallas and Forth Worth.
In response to the US tariffs on Chinese exports worth USD 50 billion, it threatened to impose levies of 25% on a range of US goods worth about the same amount, including soybeans. The US is one of two world’s largest sellers of soybeans, together with Brazil. China is the world’s dominant buyer, accounting for more than 60% of all imports
Telefonica is starting the process of preparing a stock market listing for a stake in its currently fully-owned Argentine subsidiary. In the upcoming AGM on April 16, it’s expected that authorisation will be sought from shareholders to go ahead with the share placement.
Unsurprisingly, the US exhibits relatively more risks compared to the euro area, with one red flag in particular being the price of risk in asset markets reflecting elevated asset prices across fixed income, equities and real estate. In the Euro zone, risks look mor e modest except in some pockets related to price distortions as a result of the European Central Bank ’s quantitative easing strategy.
Spotify made its debut on Wall Street on Tuesday with an initial price of $165,9/share, up 26% from the reference price established ($132/share). The Swedish music streaming firm closed its first trading session up 12% at $143/share.
In a note on regional commercial banks, AlphaValue analysts flag that lenders in southern European countries have been amongst the better performers in terms of share price and P/BV. Spanish bank Sabadell is amongst their top picks.