Top Stories

Articles by The Corner

About the Author

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.
Iberdrola Guggenheim

Relevant News Item 30th September 2024

Iberdrola, among main beneficiaries of increasingly attractive risk/reward opportunity in regulated electricity grids

Morgan Stanley’s Rob Pulleyn reviews global energy demand figures and his growth estimates. Demand has tripled since 1980 and Rob believes that by 2030 we will continue to see strong growth, 26% faster (especially ex China). Rob believes that this boost to demand will mean an increase in energy prices of 20-25% vs 2019 and therefore an improvement in returns for power generation companies that would drive them to record…

BBVA Argentina

In the World 30th September 2024

BBVA to invest $200m in KKR’s global climate strategy

Link Securities | BBVA (BBVA) and KKR have formed a strategic alliance to support the decarbonisation of the economy, according to the Bolsamanía portal. BBVA will invest $200m in KKR’s global climate strategy, which invests on a large scale in solutions that drive the transition to a low-carbon economy. The strategic alliance aims to identify new investment opportunities related to climate infrastructure, especially those that support energy transition and electrification….

bolsa reloj espana 2

In Spain 30th September 2024

High probability of a positive fourth quarter: Ibex 35’s 7% cushion

Renta 4: We continue with positive statistics, this time suggesting a positive fourth quarter, as we can see in the two charts below. The first chart looks at the occasions when a momentum indicator registers certain positive parameters, noting that 2, 6 and 12 months later there have been positive performances by the S&P500. The second shows that when the S&P500 has not recorded monthly declines of more than 5%…

The US has asked Saudi Arabia and some other OPEC producers to increase oil production

In the World 30th September 2024

Contrary to OPEC+ measures, Saudi Arabia to raise oil production, abandoning target for Brent above $100/b.

Bankinter: Saudi Arabia prepares to increase oil production. Thus abandoning its objective of placing Brent at ~$100/barr. An increase in production means taking a decision that is the opposite of the measures that OPEC+ was applying. For reference, it is currently cutting 5.86M barrels of oil per day (bpd), which corresponds to around 5.7% of world oil demand. Within the aforementioned cuts, 3.66M bpd will be extended until the end…

Sacyr2

In Spain 30th September 2024

Sacyr awarded concession of Atacama and Antofagasta airports

The General Directorate of Concessions of the Ministry of Public Works of Chile has awarded the concession for the Northern Airport Network of Chile, which includes the airports of Atacama and Antofagasta, to the consortium made up of Sacyr Concessiones (70%) and Cointer (30%). The concession involves an investment of approximately €260 million for the expansion, improvement, and maintenance of the two airport infrastructures, which will enhance service quality and…

Spain has highest proportion of contracts of 6 months or less

In Spain 30th September 2024

Spain Leads Long-Term Unemployment in EU: 585,000 Unemployed for 4 Years

In Spain, one in five unemployed individuals has been searching for a job for more than four years without success. This means that 585,000 people have been unable to find employment for over four years, placing the country, alongside Italy, at the forefront of long-term unemployment in Europe.According to data from the Quarterly Labor Market Observatory for the second quarter of the year, prepared by Fedea and BBVA, the incidence…

Telefonica novisima

In Spain 29th September 2024

Telefónica prepares to bring minority partner into newly created fibre-optic subsidiary with Vodafone

Banco Sabadell: According to press reports, Telefónica will launch in the coming weeks the process to bring a minority partner into the newly created fibre-optic subsidiary with Vodafone. The information indicates that the new partner would enter with a stake of around 40%, and Telefónica would be left with a majority stake of around 50% (thus leaving around 10% in the hands of Zegona, owner of Vodafone Spain). We recall…

Acciona

In the World 29th September 2024

Acciona Energy to build world’s second largest wind farm in Australia, with 3,000 MW capacity, for €2,500m

Renta 4 | Acciona Energy has announced the launch of the Bellwether project, which will become the second largest onshore wind farm in the world, with a capacity of 3,000 MW. This farm will be located in Perth, Australia and will require an investment of €2,500 million. Construction will begin in 2025 and it is expected to be operational in 2030. Assessment: Positive news. The announcement reinforces Acciona Energy’s international…

eeuucbeconomia11 1 1

In the World 28th September 2024

US final 2Q24 GDP surprises with 3% year-on-year growth, one tenth of a point higher than expected, thanks to 1.9% rise in consumption

Banca March: In the US, the final revision of 2Q GDP surprises by confirming a 3% annualised quarterly growth, one tenth of a percentage point higher than expected. On the component side, consumption continued to be the main driver of the US economy contributing 1.9 p.p., while public spending and investment contributed 0.52 p.p. and 0.42 p.p. respectively. Thus, demand contributed 2.9 p.p. to the change in GDP this quarter,…

Infla

In Spain 27th September 2024

Spain’s preliminary CPI drops to +1.5% year-on-year in September from +2.3% in August

According to the preliminary estimate from the National Statistics Institute (INE), the CPI slowed down in September in Spain to 1.5% year-on-year, decreasing below the minimum reached in June 2023 (1.9%) to mark the lowest figure since March 2021. The increase in the core inflation rate also moderated, in this case by three tenths (compared to eight in the CPI), down to 2.4%, the lowest since January 2022. The INE…