Spain’s best-seller financial daily Expansión reflected on Friday how adamant the country’s banking authorities are to clear the air after the Financial Times named seven entities among a European selection of 16, all of which apparently were in extremely urgent need to raise tier 1 capital. “The British newspaper FT yesterday published, quoting a senior French official, that the European Union is to push for critical re-capitalisation of 16 banks and…
Two Spanish supersector leaders, as Dow Jones and Sam call them, made it into this year’s Dow Jones Sustainability Index: they are Enagas and Repsol. If you have not heard about this list until now, here is a briefing: Launched in 1999, the DJSI are the first global indexes tracking the financial performance of the leading sustainability-driven companies worldwide. Today, the index family has approximately USD 8 billion in assets under management…
Two Spanish supersector leaders, as Dow Jones and Sam call them, made it into this year’s Dow Jones Sustainability Index: they are Enagas and Repsol. If you have not heard about this list until now, here is a briefing: Launched in 1999, the DJSI are the first global indexes tracking the financial performance of the leading sustainability-driven companies worldwide. Today, the index family has approximately USD 8 billion in assets under management…
Spain’s banking sector rejected with some simple data at hand the domino-effect buzz renewed after Italian sovereign bonds were hit on Tuesday by a Standard&Poor’s downgrade. In fact, the only Spanish banks with Italian debt are BBVA and La Caixa. This comment comes from Ahorro Corporación Financiera analysts in Madrid: “In the early hours of the morning, ratings agency S&P reduced the rating of Italy’s sovereign debt from A +…
LONDON | There was a bit of a kerfuffle in UK politics, not to mention economics, when the Financial Times‘ (FT) Monday edition announced it had reached a 25 per cent-difference conclusion on what the country’s structural deficit actually weighs. The FT researchers, the newspaper explained, had spent the British summer making swift calculations –while probably reading Aristotle and his “Metaphysics“: they followed the government’s own mathematics formula to bring…
According to ACF, the total amount of debt purchased by the ECB has doubled since the beginning of August. “The ECB increased purchases of sovereign debt during the last week up to €13.960bn. This is comparing to the previous week’s €13.300bn. The total amount of debt purchased by the ECB has almost doubled in the last five weeks. Since the purchasing program began in May 2010 up until last August…
LONDON | For the European Central Bank (ECB), Mr Juergen Stark’s resignation from its executive board on Friday was a “personal” matter, and judging by the reaction on the markets that description turned out to be fitting: at 4:00 pm, the euro was trading against $1.37, down 1.6% and at its lowest level since the end of February. “No wonder,” as international financial markets, HF expert and Webster Finance Professor Jacob…
A brief note from analysts at Renta4 about Spain’s Telefónica announcing that it will create a London-headquartered unit, Telefónica Digital, which is part of further restructuring plans to become a global player in the sector. Renta4 says trading shouldn’t be affected, although Telefónica’s move certainly looks positive on the paper: “The Board of Directors Monday announced a profound organizational change in order to participate more actively in the digital world and take advantage…
A brief note from analysts at Renta4 about Spain’s Telefónica announcing that it will create a London-headquartered unit, Telefónica Digital, which is part of further restructuring plans to become a global player in the sector. Renta4 says trading shouldn’t be affected, although Telefónica’s move certainly looks positive on the paper: “The Board of Directors Monday announced a profound organizational change in order to participate more actively in the digital world and take advantage…