Link Securities | The Department of Labor reported that the US consumer price index (CPI) rose 0.3% in June compared to May, in line with the consensus forecast by FactSet analysts. In June, clothing prices rebounded by 0.4% (versus a drop of 0.4% in May) and transportation services by 0.2% (versus a drop of 0.2% in May), while the growth in healthcare services prices accelerated (0.6% versus 0.2% in May)….
“Not even the ministerial order to start preparing the Budgets has been given,” warned Cristina Herrero, president of the Independent Authority for Fiscal Responsibility (AIReF), highlighting the lack of reliable deficit and debt forecasts for next year, as well as non-financial expenditure. “None of the necessary milestones for the Budgets that should already be underway have been met at this time,” Herrero warned, with the added uncertainty of defense spending…
Link Securities | At the Extraordinary General Shareholders’ Meeting of Faes Farma (FAE) held on Wednesday, the proposal of the Board of Directors contained in the sole item on the Agenda was approved: Approval of the acquisition of 100% of the share capital of Sifi, S.P.A. With this approval by the shareholders, Faes Farma takes another step towards completing the acquisition of Sifi, which represents a transformational step in its…
Link Securities | The company has successfully refinanced its main syndicated credit facility, increasing its amount to a total of €2.8 billion, according to a statement released on Monday, as reported by the digital portal Bolsamania.com. This refinancing not only extends the maturity by an additional year, but also includes two one-year extension options, which could bring the final maturity to July 2032. The transaction, carried out under favourable market…
Bankinter | The US will impose 30% tariffs on the European Union. They will come into effect on 1 August. The tariff will apply across the board to European products imported by the United States. From Europe, Von der Leyen maintains a constructive tone and leaves the door open for further progress in negotiations, while preparing countermeasures. On the same Saturday, the United States also imposed a 30% tariff on…
Intermoney | The trade surplus rose to $114.7 billion. This was largely due to exports rebounding by 5.8% year-on-year, while imports picked up with a 1.1% year-on-year increase in June, after three months of negative growth. By country, the first thing to look at was the evolution of trade relations with the US, where we once again witnessed a rebound in the Chinese surplus, which rose to $26.5 billion. Shipments…
The new European electoral law requires countries with more than 35 MEPs, like Spain, to establish a minimum threshold of 2% to 5% of votes to be allocated seats in European elections. Spain is the only EU Member State that has not incorporated this European electoral reform into its legislation, despite Pedro Sánchez’s debut as Spanish President and member of the European Council in June 2018, where he approved this…
Today, President Pedro Sánchez will break with the principle maintained by all Spanish governments to protect Social Security from nationalist demands for its fragmentation. In the meeting starting at 5:30 PM in La Moncloa, delegations led by Sánchez and the Basque Lehendakari, Imanol Pradales, will address the transfer of unemployment benefit and unemployment subsidy payments. This executive capacity will mean that the 29,335 Basques receiving unemployment benefits, plus the 14,472…
Link Securities | Conflicts of interest arising from Indra’s possible purchase of Escribano were the focus of a Board of Directors meeting lasting more than four hours, which ended with the departure of an independent director, Ángeles Santamaría, who had expressed her reservations about the operation and resigned yesterday for ‘personal reasons’. Santamaría, who did not attend the meeting, has recently been appointed director of Mapfre. At the meeting, it…
Renta 4 | According to information published in the press, Repsol (REP) has agreed to acquire 70% of On Demand Facilities S.L. (ODF Energía), an electricity and gas marketing company, for a price of around €21 million.ODF Energía, which has a portfolio of around 22,000 business customers (>1% of Repsol’s portfolio), bases its value proposition on a flexible business model that is close to the channel, with a strong focus…