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Articles by The Corner

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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.
Merlin Properties new

Ibex, Markets 1st September 2025

Investors should not resist data centre trend, even if valuations appear high; EW maintained for Merlin Properties

Morgan Stanley | Our analyst Bart Gysens continues to see attractive risk/return in EU real estate, although he prefers to focus on idiosyncratic stocks while awaiting a turnaround in bond yields. In the logistics sector, which is under greater pressure, he believes we have already passed the peak of deterioration in sentiment and demand, with CTP being his top recommendation. In terms of relative value, he prefers office stocks in…

ACS nuevo

Companies 1st September 2025

ACS wins £7.5 million pre-construction contract to coordinate design and planning of LA Metro Southeast Gateway Line

Alphavalue / Divacons | The Spanish construction company and Herzog have been selected for the pre-construction services phase of the LA Metro Southeast Gateway Line project. The goal is to relocate heavy freight rail lines and congested utilities. This project, valued at over $500 million, will usher in a new phase that will bring light rail along a 23-kilometre corridor in southeast Los Angeles County. The pre-construction contract, valued at…

EEUU en el mundo

In the World 1st September 2025

Revised US GDP figures for Q2 2025 show year-on-year growth of 2.1% in Q2 2025

Link Securities | According to the second estimate of the data, published by the Department of Commerce, US gross domestic product (GDP) grew in Q2 2025 at an annualised quarterly rate of 3.3%, slightly higher than the 3.0% initially calculated and in line with FactSet consensus analysts’ expectations. In Q1 2025, the US economy contracted by 0.5% compared to the previous quarter in annualised terms. The upward revision of growth…

comercio minorista alimentos

In Spain, Spanish economy 1st September 2025

CPI in Spain remains at 2.7% in August, but core inflation rises 1/10 of a percentage point to 2.4% thanks to lower food and electricity prices

CdM | The Consumer Price Index (CPI) remained at 2.7% year-on-year in August, thanks to food and electricity prices offsetting fuel prices, according to data released on Friday by the National Statistics Institute (INE). The stability of the year-on-year CPI in the eighth month of the year slows down the rise in the inflation rate experienced during the previous two months. The agency explained that the CPI remaining at 2.7%…

Indra novedad

Companies 1st September 2025

Bernardo Villazán, independent director of Indra, leaves committee for managing conflicts of interest in possible acquisition of Escribano

CdM | Bernardo Villazán, independent member of Indra’s board of directors, has resigned as a member of the committee created by the company to manage conflicts of interest arising from the possible merger with Escribano Mechanical & Engineering (EM&E), according to a statement sent by the company to the Spanish National Securities Market Commission (CNMV). In this context, the company has decided to reduce the number of committee members from…

spanish PM pedro sanchez

In Spain 1st September 2025

Spain: An Incorrigible Triumphalism

A.A. | “It’s sad, for example, that a good idea, the Minimum Living Income (IMV), hasn’t worked… The reality today is that fewer people are receiving the IMV than were previously receiving the minimum incomes offered by the Autonomous Communities.” This confession was made to us a couple of months ago by a member of parliament from Sumar, the PSOE’s coalition partner in the government, over dessert. He admitted sadly…

Iberdrola renovables eolica2

Companies 29th August 2025

Iberdrola begins work on expanding ‘Arecleoch’ and ‘Kilgallioch’ Scottish wind farms to 485 MW

Alphavalue/ Divacons | The Spanish utility company, through its British subsidiary ScottishPower, has begun work to expand its Arecleoch and Kilgallioch wind farms in Scotland. The projects, located in the councils of South Ayrshire and Dumfries and Galloway, will increase the combined installed capacity to 485 MW. Meanwhile, analysts at a leading US bank raised Iberdrola’s target price from €15.5 to €16.7 per share, as they like the company’s ‘consistently…

coches venta

European economy, In Europe 29th August 2025

Car sales in Europe up 7.4% year-on-year in July compared to 7.3% drop in June; 0.7% fall for year as a whole

Bankinter | Car sales increased in July by 7.4% (year-on-year) compared to a drop of 7.3% in June. For the year as a whole, sales fell by 0.7%. Of particular note is the drop in sales of combustion vehicles (15.2% diesel and 12.0% petrol), while electric vehicles led the way (electric up by 39.1%, non-plug-in hybrids by 14.3% and plug-in hybrids by 56.9%). Analysis team’s view: Slightly positive news reflecting…

bbva sabadell

Companies 29th August 2025

BBVA to adjust exchange ratio for Sabadell takeover bid again: one share plus €0.70 for every 5.5483 shares in Catalan bank

Link Securities | BBVA will once again update the exchange ratio for its takeover bid for Banco Sabadell after the Catalan bank paid its shareholders a new cash dividend of €0.07 per share, according to the newspaper Expansión. The bank will therefore change its offer from one BBVA share plus €0.70 for every 5.3456 Sabadell shares to one newly issued share of the acquiring bank plus the aforementioned €0.70 for…

vivienda nueva

In Spain, Spanish economy 29th August 2025

Home sales in Spain accelerate in June: up 5.9% year-on-year compared to 2.0% drop in May

Bankinter | According to notaries, the number of sales reached 68,128 transactions in June, representing growth of 5.9% (year-on-year) compared to 62,587 transactions in May (a drop of 2.0%). The average price per square metre stood at €1,906/m² in June, representing an increase of 8.0% year-on-year (€1,836/m²; up 6.7% in May). Analysis team’ view: Good news. The property market is showing strength again after the fall in home sales in…