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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.
telefonica edificio

Companies 3rd March 2026

Telefónica: after 15% drop since announcement of Strategic Plan in November, recommendation raised to Neutral (vs Sell) and target price maintained at €4

Bankinter | With the restructuring of the group well underway, following the sale of the Telefónica Hispam subsidiaries and staff reductions in Spain, the focus in 2026 is on the possibility of a corporate transaction. New European regulations introduced in January that will favour consolidation processes to promote greater scale, competitiveness and investment in infrastructure, and the existence of various alternatives, especially in Spain and Germany, increase the likelihood of…

Moeve

Companies, Relevant News Item 3rd March 2026

Moeve begins construction of 300 MW hydrogen project in Palos de la Frontera, to be operational in 2029

Norbolsa | The company has approved the FID (investment decision) to launch the Onuba project, a hydrogen project in La Rábida. This project marks the start of construction of 300 MW (expandable to 400 MW) of hydrogen in Palos de la Frontera, which will be operational in 2029. Moeve will hold a 51% stake in this project, which will also involve Masdar (a renewable energy company from the United Arab…

unemployment spain

In Spain 3rd March 2026

Unemployment rises in February, now more people receive unemployment benefits than registered unemployed individuals in 10 provinces

Unemployment rose in February, and in 10 provinces there are now more people receiving unemployment benefits than there are registered unemployed individuals. Contrary to the previous two years, unemployment rose in February by 3,584 people. The performance across autonomous communities was uneven, with significant increases in regions like Aragon, Madrid, and Cantabria, and notable decreases in the Balearic Islands, Asturias, and the Basque Country. In the annual calculation, unemployment continues…

Naturgy edificio 640x420

Companies 3rd March 2026

BlackRock exits Naturgy’s shareholder base with accelerated placement of the 11.4% it still held

Renta 4 | GIP (BlackRock) carries out an accelerated placement of the 11.4% of Naturgy’s capital it still held at a price of €25.20 per share, representing a discount of close to 6% on the previous day’s closing price. Assessment: Although this move is likely to cause the share price to adjust to the placement price, we consider the news to be positive as it provides greater liquidity to the…

espana europa billete

In Spain 3rd March 2026

CGE updates Spain’s GDP growth to 2.4% in 2026 and points to public debt still close to 100%

CdM | The General Council of Economists of Spain (CGE) presented on Monday the Financial Observatory and Economic Keywords Report for the second half of 2025, prepared by the Financial Commission and the CGE Research Service. The presentation ceremony was attended by the Vice-President of Bolsas y Mercados Españoles (BME) David María Jiménez-Blanco, as well as presentations by Miguel Ángel Vázquez Taín, President of the General Council of Economists of…

SP500 nuevo

In the World, Markets 2nd March 2026

Since 1991, conflicts between US and Middle Eastern countries have been bullish for three months (and beyond) for S&P 500

Renta 4 | The main US indices are starting the week in a very similar vein to the last three months, mired, especially the S&P 500, in a tedious sideways range, with support at 6,780 points and resistance at 7,000 points. The two major support levels for the S&P 500 and NASDAQ 100 this year can be clearly seen in the chart below, with November’s lows of 6,520 points as…

OPEC post mortem

In the World 2nd March 2026

OPEC+ to increase oil production by 206,000 bpd from April

Bankinter | OPEC+ to increase oil production by +206,000 bpd from April. The increase is justified by the fact that the global economic outlook is stable and oil reserves are low. Bankinter analysis team’s view: This decision has been taken by Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Algeria, Kazakhstan and Oman. It is part of the objective of gradually introducing into the market the 1.65 Mb/d of voluntary cuts…

Telefonica central

Companies 2nd March 2026

Telefónica reportedly in talks to buy 1&1 for up to €5 billion

Alphavalue/Divacons | Citing sources close to the deal, El Español reports that Telefónica (TEF) is in talks with 1&1, a subsidiary of United Internet (add, Target Price €31.3/share), for a possible purchase. The acquisition price would reportedly be between €4.5 billion and €5 billion. This move seems logical from a strategic point of view, as a possible takeover bid by Telefónica for Vodafone Spain would be complicated if a RANco…

acerinox industria acero

Companies 2nd March 2026

Acerinox: favourable winds and change in trend in EU not yet translated into figures, EBITDA €32 million

Deutsche Bank | Acerinox published its fourth quarter results and adjusted EBITDA of €101 million was broadly in line with underlying expectations, while the significant level of inventory impairment (around €60 million, despite the increase in nickel prices) brought reported EBITDA to €32 million (consensus €77 million versus €73 million expected). Importantly, cash flow was again very strong, driven mainly by a significant release of working capital, resulting in net…

redeia fachada

Companies 2nd March 2026

Fitch downgrades Redeia’s rating from A- to BBB+ due to increased investment efforts

Renta 4 | The factors that led Fitch to downgrade Redeia’s credit rating from A- to BBB+ focus on the increased investment that the company plans to make in the coming years as a result of its ambitious strategic plan, which will lead to a temporary deterioration in the company’s credit ratios while it is being implemented. Conclusion: Despite the downgrade, Fitch maintains a stable outlook and views Redeia’s regulated…