Sales abroad from the Spanish economy fell by 1.2% year-on-year in January. Imports, on the other hand, grew by 6.2%, resulting in a trade deficit that nearly doubles that recorded in January 2024. As a result of this data, according to the monthly report from ICEX for January 2025, the export-import coverage rate dropped to 82.8%, the lowest for January in the last decade. The increase in imports is mainly…
Bankinter | S&P maintained Spain’s rating at A with a long-term Stable outlook. The agency considers Spain to be one of the fastest growing OECD economies (projecting around +2% over the next four years). The maintenance of the stable outlook was based on the fact that it considers the risks to be balanced over the next two years. Despite this, the rating agency pointed out that public debt and unemployment…
Norbolsa | Now that the budget extension has been dealt with over the weekend, the Republican Party is now focusing on the debate on how to implement the president’s tax plan. The debate centres on the ability to achieve the $1.5-2 trillion in spending savings over 10 years that is envisaged in the president’s programme. For a part of the Republican Party, in order to achieve these savings it is…
CdM | The airports in the Aena (AENA) network in Spain closed February with 19,993, 427 passengers, 4% more than in the same month last year, while the group’s airports (comprising 46 airports and two heliports in Spain, London-Luton Airport and 17 airports in Brazil) handled 24,537,134 passengers, 4.4% more. Specifically, according to the data provided by the company, in Spain they managed 178,767 aircraft movements, 6.9% more than in…
Bankinter | In its monthly report, OPEC states that Kazakhstan’s production increase was 363,000bp, to a total production of 41.01Mbd. The increase more than doubles the total production increase forecast by OPEC for April: 138,000bp. Kazakhstan is increasing its production thanks to the Tangiz field, operated by Chevron. Specifically, it is producing 1.767 Mbd, a level that compares with 1.570 Mbd in January and 1.468 Mbd of permitted quota. Other…
The National Institute of Statistics (INE) published that the consumer price index (CPI) in Spain rose by 0.4% in February compared to January, a reading that confirms its preliminary figure and aligns with expectations from analysts at FactSet. The groups with the most significant positive monthly impact on the monthly CPI rate were: i) Hotels, cafés, and restaurants, which showed a variation of 0.7%, due to the increase in prices…
Intermoney | Ferrovial (FER) (Hold, PO €39) announced on Thursday an agreement with AtkinsRéalis, a Canadian engineering firm formerly known as SNC Lavalin Group, for the sale and purchase of 5.06% of the capital of the ETR407 motorway, for the sum of C$2.09 billion, or approximately €1.34 billion. Ferrovial thus increases its stake in ETR to 48.3%. Ferrovial will acquire 3.3% at the closing of the agreement, while the remaining…
Intermoney | Amidst the tariff ‘back-and-forth’, Wednesday’s US inflation data emerged and did not go unnoticed for showing a clear moderation of prices in each of its corresponding readings. Both the monthly and year-on-year CPI and the core CPI moderated compared to the previous month and were below expectations. The different figures were: monthly CPI (+0.2% vs. +0.3% Spain and +0.5% previous month), monthly core CPI (+0.2% vs. +0.3% Spain…
Alphavalue/ Divacons | The financial institution intends to reduce the number of members of the Banco Sabadell board in the event that the takeover bid is completed with a favourable outcome for BBVA and until the merger is carried out. In the prospectus submitted by the organisation to the US Securities and Exchange Commission (SEC), BBVA explains that as long as Sabadell remains a listed company under the control of…
Link Securities | Ferrovial’s biggest project currently under construction, the New Terminal 1 (NTO) at JFK airport in New York, is progressing according to schedule and budget, according to the company, as reported today in the newspaper Cinco Días. But as hard as the execution of the work, which is already more than 60% complete, is the commercial task of attracting airlines to an infrastructure intended for international traffic and…