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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Talgo

Companies 6th August 2025

Talgo minority shareholders criticise SEPI’s entry, believing company could have benefited from takeover bids

Banc Sabadell | Talgo (TLGO) minority shareholders, through the AEMEC, have criticised the entry of the State Company for Industrial Investments (SEPI) as they believe it could have benefited from the takeover bids, which did not materialise, according to press reports. SEPI’s entry through a rights issue prevents them from benefiting from this option. In addition, AEMEC also believes that there could be concerted action between SEPI and the Basque…

naturgy

Companies, Ibex 5th August 2025

Naturgy announces accelerated placement and bilateral sale of 5.5% of capital to increase free float

Renta 4 | Naturgy (NTGY) has carried out an accelerated placement of approximately 2% of its capital, 19.3 million shares held in treasury, for approximately €500 million. This represents a price per share of €25.9 and a discount of 7.1%. In addition, it has agreed to sell up to 34.1 million shares, also held in treasury, representing approximately 3.5% of the capital, to an international financial institution. Naturgy has entered…

EEUU construccion

In the World 5th August 2025

US economy adds 73,000 non-farm jobs in July, well below 115,000 expected

Link Securities | According to data from the Department of Labor, the US economy added 73,000 non-farm jobs in July. The figure is well below the 115,000 jobs expected by the consensus of FactSet analysts. In addition, June’s job creation figure was sharply revised downward from an initial 147,000 jobs to just 14,000 jobs, and May’s figure was also revised downward by 125,000 jobs. Taken together, the May and June…

oil barrels

In the World, World economy 5th August 2025

OPEC+ agrees to increase production by 547,000 b/d in September and ends restoration of 2.2 Mb/d withdrawn from market in 2023

Bankinter | OPEC+ agreed to increase production in September by 547,000 b/d. This is the sixth consecutive monthly increase. With this move, it completes the restoration of 2.2 Mbd that it withdrew from the market in 2023. OPEC justifies its decision on the basis of the stability of the global economic outlook and the solid fundamentals of the market (low inventory levels). As a reference, OPEC+ (which includes other countries…

empleo hosteleria

In Spain, Spanish economy 5th August 2025

Number of unemployed falls slightly in July to 2.4 million (implicit rate 10%)

Bankinter | The number of unemployed fell by 1,357 in July, from 48,900 in June. Unemployment stands at 2.40 million people (down 0.06% month-on-month and 5.71% year-on-year). Seasonally adjusted Social Security enrolment stands at 21.6 million people (up by 31,080 workers, 0.14% month-on-month and 2.24% year-on-year). Bankinter analysis team’s view: The number of unemployed fell slightly in July, compared to the slight upturns in August in recent years. The number…

banco sabadell

Companies 5th August 2025

Sabadell completes share buyback, reaching maximum amount of €755 million

Link Securities | Banco Sabadell (SAB) announces that, following the last of the acquisitions, it has completed the execution of the Share Buyback Programme, having reached the maximum monetary amount of €755 million provided for in the Programme, which represents the acquisition of a total number of 264,551,530 treasury shares or approximately 5.003% of SAB’s share capital as of this date. As indicated, the purpose of the Buyback Programme is…

telefonica

Companies, Relevant News Item 5th August 2025

CNMC liberalises 100% of broadband market: Telefónica will have to continue renting physical infrastructure

Banc Sabadell | The National Markets and Competition Commission (CNMC) has liberalised 100% of the broadband market, a decision that will come into force in February 2026. The CNMC believes that with the rollout of fibre by telephone companies and the creation of Masorange, Telefónica (TEF) can no longer be considered to have a dominant position. The last market review was carried out in 2021, increasing liberalisation to 70% of…

amper. def

Companies 4th August 2025

Amper closes 1H2025 with record order book worth €572 million thanks to increased defence sector demand

Link Securities | Amper (AMP), specialising in energy, defence and communications, closed the first half of this year with a record order book, mainly thanks to increased demand from the defence sector, where orders are skyrocketing due to international geopolitical tensions, according to the newspaper Expansión. Amper, as reported to the National Securities Market Commission (CNMV), managed an order book worth €572 million at the end of the first half…

BCE noche

Ibex, In Spain 4th August 2025

ECB test shows Banco Sabadell and Unicaja as institutions with greatest capital deterioration

Renta 4 | On Friday, the ECB released the results of the stress test. This exercise, we recall, does not establish a pass/fail threshold, but is designed to provide additional information for the supervisory review and evaluation process. The adverse stress scenario has been designed by the EBA/JERS for a three-year time horizon (2025-2027) and assumes a hypothetical worsening of geopolitical tensions, with very negative and persistent trade and confidence…