After another fall on Friday, the stock markets have followed the US and Asia’s bull trail. The Ibex 35 recovered part of last week’s losses at the opening. In general, analysts are agreed that this fall in the markets is a healthy correction and not the start of another bear market.
The consortium formed by ACS (with 24%), SNC Lavalin, Aecon, Pomerleau and EBC, has been chosen to design and build an automatic train (an underground train without a driver) for the metropolitan area in Montreal, Canada. The contract is worth 825 million euros.
After nearly a decade of economic and political turmoil, Europe is still struggling to regain stability. The primary question about Europe’s future remains unanswered: Will the eurozone ever be able to flourish without external support?
Nick Malkoutzis via Macropolis | Tens of thousands of people protested in Athens on Sunday in what was the largest rally the Greek capital has seen for some time. They were there to send a message regarding the meaning of a Greek word: Macedonia.
The Spanish government has this week officially announced the candidacy of Economy Minister Luis de Guindos for the Vice-Presidency of the ECB, substituting the Portuguese Vitor Constancio. De Guindos already tried to move to Brussels as a substitute for Dijsselbloem at the head of the Eurogroup. But the bet didn’t turn out well.
The European Investment Bank (EIB) has approved a 1.5 billion euros loan – the biggest in its history – for the construction of the Trans Adriatic Pipeline (TAP), an around 878 kilometres project which will link Turkey with Italy, and in which Spanish firm Enagás is involved.
Spain ended 2017 with a loss of price-competitiveness at an accumulated level in comparison with the EU (0.8%), as well as with the OECD (1.5%) and the BRIC countries – Brazil, Russia, India, China and South Africa – (0.5%), according to the Index for the Trend in Competitiveness (ITC).
Brent crude recently topped USD 70 a barrel for the first time since June 2015 as OPEC announced it would restrain oil output until the end of 2018. Nevertheless, there is still some scepticism over just how high prices will go, in spite of the cartel’s apparently strong commitment to reduce excess supply. According to CaixaBank’s strategists, such doubts are partly due to the uncertainty hovering over the shale production’s industry.
Intermoney | Four months after the elections, Angela Merkel and Martin Schulz sealed a deal on Wednesday to remould the “grand coalition”; the end of the political uncertainty in Germany will translate into greater stability for the Eurozone economy.
