stock markets' level is not sustainable

Stock Markets: Levels And Fundamentals

Various world-renowned experts are increasingly doubtful that the stock markets’ level is sustainable. But there is still huge euphoria. While money remains cheap, in relation to the expectation of gains, speculation will continue.


Autos Sector: A Kaleidoscope Of Conflicting Views

It looks as if sentiment has turned negative on the Autos sector over the last month. As reported by Carax-Alphavalue, “this has been as brutal as the previous month’s surge, confirming if needed how volatile investor perception can be on the sector”. The Autos sector is last month’s worse performer with a near 3% drop.

Eurozone equity risk premium

Eurozone Overweight Supported By Risk Premium

A decent rebound in eurozone equities in recent weeks brought up concerns that the market might already be overvalued by now. Julius Baer’s research clarifies that “valuation is not the main driver of our asset allocation as earnings definitively remain more important”. However, valuation is easy to observe and thus attracts quite some attention. One of the measures they are following is the equity risk premium.


Telefonica Movistar announces end to roaming charges in Europe

Telefonica’s Movistar has informed its clients that from June 15 it will put an end to the roaming surcharges for all its tariffs across Europe. This means that all clients with a contract, or prepaid or Fusion will have the same tariffs as they do in Spain when they travel to the EU, Iceland, Norway or Liechtenstein.

Tubacex's record orders

Tubacex’s Order Book Reaches Record Levels

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.

Overseas business for Spain's listed compnies

Record Levels Of Overseas Business For Spain’s Listed Companies

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.

Monte Dei Paschi workforce cut

Monte Dei Paschi Cost Cutting Could Include 50% Of The Current Workforce

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.