Jefferies Equity Research | Spanish Banks’ 1Q24 earnings season kicks off later this week. We expect focus to remain on the NII print/guidance in a context where rates expectations have moved up YTD. Loan growth still not helping, but in-check asset quality is an offsetting factor. Outside Spain, Mexico’s numbers came relatively solid into early Q1 24 as per CNBV data. In Brazil, loan growth is now flat in real…
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Renta 4 | We show the European sector which includes auto and parts companies. The chart shows how it has overcome a resistance zone at 670 points, which has been in place since 2015 and which had served as an obstacle in several bullish impulses. In this context of free ascent, the relative performance ratio with respect to the Eurostoxx 50 timidly overcomes the downtrend since 2018, showing a better…
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Alicia García Herrero (Natixis) | China’s Two Sessions – the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) – took place from March 4-11 in Beijing. This year, the Two Sessions have been particularly important for understanding where the Chinese economy is heading, as new Premier Li Qiang delivered his first “Work Report,” which marked the beginning of a new economic era….
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José Bogas, ENDESAS’s CEO, explains in Consejeros magazine that “295,000 million of investment is needed for the period 2021-30, and we have many years ahead of us when when we are not investing at this pace. Of these 295,000 million, 118,000 million are for renewables; 85,000 for energy efficiency, but almost nothing has been done so far; 53,000 for networks, which is more than 5,000 every year and we have…
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The CEO of Repsol, Josu Jon Imáz, took part on June 22 in a debate organised by the newspaper El Correo, and took the opportunity to warn of the hypocrisy, inefficiency and paradoxes of European energy policy.For example, in Spain it is forbidden – by law – to explore for and produce natural gas “and at the same time we are encouraging companies to bring gas from the United States,…
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