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fcc environmental services 1

World economy 16th February 2024

FCC wins €392 million contract for municipal waste collection in Clay County, Florida

Link Securities | The US Clay County, in Florida, has awarded FCC a contract for the collection of municipal solid waste in the county, representing a portfolio of up to $420 million (about €392 million) for a 10-year term, plus two possible five-year extensions, the newspaper Expansión reports in today’s edition of the newspaper. FCC Environmental Services is one of the largest municipal solid waste management companies in the United…

OPEC post mortem

World economy 15th February 2024

OPEC oil production falls by 350,000 b/d due to 162,000 b/d less from Libya

BancaMarch| OPEC oil production has fallen by 350,000 b/d. According to the cartel’s report, crude oil production has fallen by 350,000 barrels per day between December and January to 26.3 million barrels per day. The main reduction is due to 162,000 barrels per day less from Libya, as a result of internal conflicts in the country. Kuwait and Iraq have also seen their production fall sharply by 109,000 and 98,000…

Iberdrola guapa

World economy 14th February 2024

Abu Dhabi renewables group Masdar reportedly considering acquiring stake in Iberdrola’s renewables assets

Link Securities | Masdar, the Abu Dhabi Emirate’s renewables group, is considering acquiring a stake in Iberdrola’s (IBE) renewable assets in the United States, according to Expansión. It would be a first move following the deal sealed last December, when the two groups agreed on an alliance to analyse investment opportunities valued at €15 billion. The initial agreement contemplated investments in offshore wind and hydrogen projects in several countries, including…

ArcelorMittal

World economy 10th February 2024

ArcelorMittal starts to see signs of recovery

Banco Sabadell: 4Q’23 results slightly better than expected 4Q’23 EBITDA slightly better than expected ($1,266m versus $1,233m BS(e) and $1,200m consensus), although contracting versus 3Q’23 due to a lower average price, something we see in all its geographies. Deliveries fell at the aggregate level compared to Q3’23, although in North America (34% EBITDA) they rebounded slightly (+2.4%), which anticipates some improvement. The lower part of the income statement is impacted…

indra edificio

World economy 7th February 2024

Indra wins Lockheed Martin contract to equip four Saudi ships with state-of-the-art electronic defence systems

Link Securities | According to media reports, US company Lockheed Martin has awarded Indra a contract to equip four Saudi ships with state-of-the-art electronic defence systems. The 118-metre-long vessels, with a range of 5,000 miles, are prepared to operate in both coastal and ocean areas. They will be delivered with this Spanish technology to the Royal Saudi Arabian Navy. The companies have declined to disclose the amount of the contract….

ACS novisimo

World economy 5th February 2024

ACS wins new contracts for €400 million in several ports in the USA and the UK

Intermoney: The daily newspaper Expansión reports today that ACS (Buy, PO 43) has been awarded several construction contracts in the US and UK for a total of approximately construction contracts in the US and the UK for a total of approximately €400 M€. Thus, the Group has been the preferred bidder for a contract worth some £100 million ( €117 million) at the port of Immingham, the UK’s main port…

An exterior view of China Evergrande Centre in Hong Kong

World economy 31st January 2024

Evergrande’s liquidation order affects foreign investors’ sentiment more than the economy

Alicia García Herrero (Natixis) | As the landmark case of China’s property turmoil, Evergrande’s liquidation order marks a new beginning of the industry’s downsizing, or in polished terminology, rightsizing. We argue that the direct macroeconomic impact is limited, but it may come with a snowball effect on the already worsened sentiment on foreign investors, if not properly handled. While Evergrande’s liquidation order may look astonishing, it is more a symptom…

eeuu precios

World economy 29th January 2024

US: PCE moderates to 2.9% in December, 11 months of improvement

Bankinter| The Underlying Personal Consumption Expenditures (PCE) moderated to 2.9% year-on-year in December 2023 (from 4.9% Dec 2022). The Personal Consumption Expenditures rebounded to 2.6% year-on-year; 0.2% month-on-month as anticipated (from negative 0.1% average). The Underlying Deflator improved to 2.9% year-on-year (from 3.2% pre and 3.0% expected). Month-on-month it met the 0.2% estimate (0.1% month-on-month previously). Personal Income was up 0.3% month-on-month, meaning no surprises. Personal Spending rose 0.7% m/m…

acciona

World economy 26th January 2024

Acciona to bid for Line 7 of Riyadh metro together with Siemens, Samsung and Alayuni, and against FCC and its consortium

Link Securities | Acciona and FCC are part of two consortiums formed to bid for the construction of the new Line 7 of the Riyadh metro in Saudi Arabia, according to sources consulted by the newspaper Expansión. Specifically, Acciona has formed an alliance with Siemens, Samsung and Alayuni. In addition, FCC, as part of the consortium that won in 2013 one of the lots to design and build the first…

tecnicas reunidas 777x400 1

World economy 26th January 2024

Técnicas Reunidas opens offices in USA to invest €55 billion in decarbonisation technologies by 2030

Singular Bank | The Spanish multinational engineering and infrastructure construction company for the oil and gas sector has opened offices in the US. In doing so, it hopes to address the current need to increase green energy and will invest around €55 billion in decarbonisation technologies, hydrogen, biofuels and carbon capture by 2030. It has also confirmed that thanks to its alliance with the Chinese oil company Sinopec, it has…