espana servicios hosteleria

Spanish Social Security system gains 229,742 employed persons up to middle of May, closing in on 21.8 million mark

CdM | Social Security enrolment has increased by 229,742 employed persons in the first half of May, to 21,783,878 contributors in the daily series of affiliates, a new record figure, according to data published on Tuesday by the Ministry of Inclusion, Social Security and Migration. In the seasonally adjusted series, 21,557,126 affiliates have been reached in the first fortnight of May, thanks to the increase of 45,531 affiliates in the…

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Crédito y CauciónCrédito y Caución
utilities

Review of energy demand model, prices and GDP evolution: Equalweight on Iberdrola, Naturgy, Solaria, Acciona and Redeia; Underweight on Endesa and Enagas

Morgan Stanley: The analyst team provides an overview of its model for energy demand, prices and GDP evolution. Gas and power curves have normalised in the short term, and imply prices aligned with the team’s estimates. They see less downside risk in these prices and, therefore, less risk of downward EPS revisions, especially attractive for companies trading at low multiples. On the other hand, Rob Pulleyn reiterates the data centre…

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Banner CIR, junio 2022

china central bank

China’s central bank cuts one-year rate to 3% and five-year to 3.50%

Bankinter | China’s central bank (PBoC) lowers the one-year interest rate to 3% from 3.10% previously. The 5-year rate is cut to 3.50% from 3.60%. Bankinter analysis team’s view: The central bank is once again taking action, with the aim of reactivating the economy. On 7 May it cut the 7-day repo rate to 1.40% from 1.50% and the reserve requirement for banks to 9.0% from 9.5%. It also announced…

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interviews

antonio bonet

“We need to approach negotiations with the U.S. on terms that are completely different from those currently being proposed”

Says Antonio Bonet, president of the Club of Spanish Exporters and Investors. He points out that “Europe has a single tariff applied by all member states, but the U.S. applies a tariff to each country, meaning it can decide that the tariff applied to Spanish black olives is higher than that for Italian olives, as it did at one point. So there is a part of the negotiation between Europe…

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ElenaJimenezdeAndrade

“It is a shame that we are able to mobilize economic resources for large-scale projects abroad, but not in our Spanish market”

In an interview with Consejeros magazine, Sacyr’s coordinating advisor, Elena Jiménez de Andrade, explains that now “We have great capacity to win projects, a capacity that until now contrasted with a series of financial limitations and balance sheet size. However, in this strategic cycle, we are going to eliminate those barriers. That is why we have set an ambitious goal for 2033: to triple the value of our assets. We…

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