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Spanish economy 27th January 2022

Mutua Madrileña Takes An 8% Stake In El Corte Inglés, Which Will Be Floated On The Stock Exchange

El Corte Inglés shareholders gave the ‘green light’ this Wednesday at its extraordinary general meeting to Mutua Madrileña entering its shareholding after the agreement reached: the insurer -Mutua Madrileña- acquires 8% of the distribution group, from treasury stock, for 555 million euros and its President and CEO, Ignacio Garralda, will join the board of El Corte Inglés. In addition, the insurer will acquire 50.01% of each of the two companies…

Spanish economy 26th January 2022

The sector’s good momentum could lead to Acerinox ending 2021 with an EBITDA of 980,3 €M, a new record high

Renta 4 | A unique moment for the sector supported by greater control on imports is translating into the following: 1) A strong recovery in demand, both final (construction, catering and home appliances) and perceived (reconstruction of inventories on the part of stockists). 2) Increase in production: the previous point along with lower imports has fuelled a strong rise in plants’ utilisation rates. 3) Low inventory levels: In spite of…

Spanish economy 25th January 2022

The CPI Makes The Pension Increase To Be Approved Today 3.125 Billion Euros More Expensive

The newspaper El Economista explains today that on the same day as the Government approves the increase in pensions for this year, it will also have to come up with an extra almost 3.125 billion euros to finance the operation. This follows the deviation between the price estimate forecast by the Executive in the current General Budget and the strong rise in inflation in the last few months of 2021….

Spanish economy 25th January 2022

Spain: Squatting Grows By 18% With 13,389 Cases Up To September 2021; Catalonia Accounts For 42% Of Total

The number of cases of squatting in homes grew by 18% in Spain with 13,389 cases up to September 2021, according to the latest data recorded by the Ministry of the Interior. Catalonia continues to lead the autonomous communities with 5,689 ‘squats’, 42% of the total. The figure quadruples that of the Community of Madrid (1,282 cases) and almost triples that of Andalusia (1,994 cases). The official statistics, consulted by…

Spanish economy 25th January 2022

The Number Of Investors In The Spanish Stock Market Falls By 35% In 2021

The Spanish stock market has become less attractive to investors, according to the latest data published by one of the country’s leading brokers, XTB. Despite doubling its volume of active clients in equities during 2021 compared to 2020, a clear change of trend in the Spanish market is being observed. The number of investors who only operate in the domestic market has decreased by 35% last year, while the number…

Spanish economy 24th January 2022

Social Pact And Income Pact

Fernando González Urbaneja | Over the last decade, since 2010, trade unions and employers have reached four multiannual and indicative wage agreements under the name of the State Agreement for Collective Bargaining. These have always been under the complacent gaze of the PP and PSOE governments, which provided a reasonable guarantee of social peace. Agreements that responded to a practice of consensus that has been characteristic and habitual throughout the…

Spanish economy 24th January 2022

Dividend Payouts In Spain Could Rise By 15-20% In 2022

Allianz GI | After a drop in dividend payouts related to the coronavirus crisis in 2020, companies in the MSCI Europe European equity index increased their payouts again last year by around a third to a record €378 billion. And this trend is likely to continue again in 2022: according to our forecasts , a further increase in total dividends of around 8 percent to around €410 billion is expected…

Spanish economy 21st January 2022

The Spanish Economy Relies On The Export Boom To Keep Its Activity Alive

Luis Alcaide | The evolution of Spain’s export trade confirms the viability of the economy, whose rhythm is being maintained thanks to its strong export sector. Political labyrinths aside, according to the latest available data for the month of November, the increase in sales of Spanish goods to foreign markets exceeds the average increase in the EU, as well as that of the main European competitors. The number of exporters…

Spanish economy 21st January 2022

Ibercaja Banco, With A ROE Of 6.62%, Will Be Floated On The Stock Exchange

Ibercaja Banco intends to go public via an initial public offering of ordinary shares to qualified investors, the Spanish Securities and Exchange Commission (CNMV) has been informed. The placement will be made by the Ibercaja Foundation, which holds 88.04% of the shares. The remaining 11.96% is held by the Fundación Círculo de Burgos, the Fundación Inmaculada de Aragón and the Fundación Caja Badajoz. Through the share offer, the Ibercaja Foundation…

Spanish economy 21st January 2022

US justice Rules In Favour Of Siemens Gamesa In The Conflict Over Patents With General Electrics

Renta 4 | The United States International Trade Commission (USITC) has ruled in favour of Siemens Gamesa (SGRE) on the issue of the complaint submitted by General Electric regarding the patents of some of the components of wind turbines. The USITC has denied GE’s claims. The ruling affirms that Siemens Gamesa did not infringe any intellectual property rights with respect to the Zero Voltage Ride Through Patent. That said, the…