Link Securities | The Bank of Spain (BdE) published on Monday that Spanish public debt increased by €46.143 billion in 2024, to €1,621,515 billion, which is its highest level for an annual close. In terms of Spain’s GDP, public debt stood at 101.8% at the end of 2024, 3.3 percentage points less than in 2023. The improvement in the public debt ratio has a lot to do with the upward…
Norbolsa | The bank has announced an investment of more than €2 billion (around €1.915 million) in Mexico over the next three years, emphasizing that it is the country where they see the most potential growth, following a meeting between the president of the Santander, Ana Botín, and the Mexican president, Claudia Sheinbaum. Botín also highlighted the stability of public finances in Mexico and that “the macro part is working”…
Banca March | The European Union is keeping up the pressure on Russia. On the one hand, France yesterday announced new sanctions against Russian oil for the invasion of Ukraine, without Washington’s backing and despite the apparently limited effect of similar measures introduced by Western countries. The French Foreign Minister, Jean-Noël Barrot, pointed out that Russia earns €100 billion a year from oil sales, while the total cost of the…
According to data from the Spanish Association of Automobile and Truck Manufacturers (Anfac), car production in Spain fell by 27.2% in January, reaching 168,076 units produced. Anfac states that the main causes of this sharp decline are the adjustments in work shifts made at production centers and their adaptation to the introduction of new electrified models, and it reminds that the drop in production occurs at “a critical moment for…
Link Securities | The Spanish renewable energy multinational has secured financial support from Proparco, the French Development Finance Institution, for the deployment of its renewable energy operations in the Dominican Republic. As part of its objective to support companies that promote sustainable development, the subsidiary of the Agence Française de Développement Group (AFD Group) has granted a loan of $43.1 million (around €41 million) to Ecoener to finance its Payita…
Renta 4 : Revenues slightly down, in line with our expectations. The higher contribution from Musel, REVU and COPEX did not offset the effects of lower regulated revenues. EBITDA slightly down despite the stability in operating expenses, due to lower results from investees because of the deconsolidation of Tallgrass, which is not offset by the higher contribution from Axpo and TAP, despite this, it exceeds our forecast and allows EBITDA…
Bankinter | Last Friday, Pegaso, majority shareholder of Talgo (TLGO), announced the agreement for the sale of 29.7% of Talgo’s capital to the Consortium formed by Clerbil (Sidenor), Finkatze Kapitala Funlatuz, Fundación bancaria BBK and Fundación Bancaria Vital. The price will be €4.15 fixed and up to an additional €0.85 subject to the achievement of objectives. In statements this weekend by Imanol Pradales, President of the Basque Government, he said…
Norbolsa | Masdar is exploring several M&A operations to grow Saeta (acquired from Brookfield) and turn this group into its major expansion platform in Western Europe. Thus, they are in talks with EDP, Acciona and Totalenergies to buy various assets in Spain, Portugal and France, especially in wind power. Industry sources indicate that these transactions could add another 1,000 MW in operation, which at market price would be around €1billion….
Luis Alcaide | In the past month of December, exports increased by 2.7% year-on-year, while for the entire year of 2024, they grew a modest 0.2%. Exports did not decline for the whole year, but their value in euros also did not advance; they practically remained stagnant. The total figures for 2024 amounted to €384.465 billion, lower than the €387.599 billion reached in 2022. This decrease in export volumes is…
Bankinter | Japan’s GDP surprised positively in 4Q 2024. GDP was up 2.8% (quarter-on-quarter annualised) versus 1.1% estimated and 1.7% previous (revised from 1.2%). Quarter-on-quarter was up 0.7 against a 0.3% estimated and 0.4% previous (revised from 0.3%). Our team’s view: Good news. The Japanese economy is growing more than expected, which together with inflation clearly above the 2% target (up 3.6% in December), will allow the BoJ to continue…