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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.

In Spain 4th February 2025

Disa buys Q8 network in Portugal and becomes third largest oil company in country

The DISA Group has completed the purchase of 55 service stations from the Q8 network (owned by Kuwait Petroleum) in Portugal, thus expanding its presence in the Portuguese market where it becomes the third operator by number of service stations (312) with a market share exceeding 11%. The leader is the Portuguese company Galp, with 30%, followed by Repsol with 17%. The operation was finalized on January 31 and integrates…

In Spain 4th February 2025

OHLA completes capital increase with rights for €150 million

Intermoney | Last Friday, with the market open, OHLA (OHLA) (Hold, Target Price under review) informed the National Securities Market Commission (CNMV) of the result of the capital increase with rights, of up to 320 million shares at $0.25 each, in which these had been trading on the stock exchange between 13 and 27 January. Finally, a total of 315,481,376 new shares were subscribed in this pre-emptive subscription period, representing…

In the World 4th February 2025

Telefonica Brazil proposes two-step, six-month split to reduce operating and administrative costs

Link Securities | Telefonica’s Brazilian subsidiary has initiated a process of grouping and then splitting its shares in order to reduce operating and administrative costs and be more efficient in distributing profits to the firm’s shareholders, digital portal Bolsamania.com reported on Friday. According to the company, which operates under the name Vivo, the move will be put to a vote at an extraordinary general meeting on 13 March. If approved,…

In Europe 3rd February 2025

German election: a CDU-SPD coalition still baseline with ‘fatter’ tail risks at the margin

Annalisa Piazza (MFS Investment Management) | Following the eventful discussions and a non-binding motion on immigration approved by the Bundestag last week, the focus ahead of the February 23rd election is now shifting more towards immigration rather than the economy (and its structural problems). Given that Friedrich Merz made it clear that the CDU would not form a coalition government with AfD, a CDU-SPD coalition remains the most likely outcome…

In the World 3rd February 2025

Inditex opens first For&From shop in Mexico

Link Securities | Inditex (ITX) has announced the opening of the Group’s first For&From shop in the Aztec country, in the Samara Shops shopping centre in Mexico City. Mexico is the fourth market in which the company has incorporated this format of shops for the social and occupational integration of people with disabilities, after the openings in Spain, Italy and Portugal, according to Bolsamania. The company explained in a statement…

In Spain 3rd February 2025

Spain: In three years, with new laws, property owners withdraw 300,000 apartments from rental market

In Spain, in 2024, a total of 717,338 homes were put up for rent. The figure alone doesn’t say much. The comparison with previous years does. That’s 96,512 fewer properties than were rented a year earlier (which implies an 11% drop) and nearly 300,000 fewer homes than during the height of the Covid pandemic, whether compared to 2020, when the economy was at a standstill, or to 2021, as explained…

In Europe 31st January 2025

Money supply slows down in euro area in December

Banca March | Money supply in the euro area slows down in December, with M3 increasing by +3.5% year-on-year compared to +3.9% previously. However, credit data were more positive, as loans to companies and households rebounded: specifically, loans to households grew at a pace of 1.1% (two tenths of a point higher than the previous month), pushed up by loans granted for house purchases (up 1.1%) and those related to…

Spanish economy 31st January 2025

Sacyr proposes appointment of Pedro Sigüenza as director and separates functions of CEO and Chairman

Intermoney headquarters| The Board of Directors of Sacyr (Buy, PO 4.4 €) agreed yesterday after the market close to propose to the next shareholders’ meeting the appointment of Pedro Sigüenza as a director of the company with executive qualification in the functions of development and management of the business lines. The approval, if it happens, of this proposal by the General Shareholders’ Meeting will allow Sigüenza to be appointed CEO…

In the World 31st January 2025

ACS and Acciona on EnergyCo’s shortlist to build one of largest high-voltage projects in Australia, with €700 million investment

Link Securities | ACS (ACS) and Acciona (ANA) are on the shortlist selected by EnergyCo, the public utility of New South Wales (Australia) to build one of its largest high-voltage projects, according to Expansión on Friday. The project is the Hunter Transmission project, a 110-kilometre section north of Sydney that involves the construction of a new 500 kilovolt (kV) transmission line. The estimated investment in the project is AU$ 1.1…

Spanish economy 31st January 2025

Repsol approves €800 million investment in Tarragona Ecoplanta, first in Europe to manufacture renewable and circular methanol from waste

Link Securities | Repsol’s Board of Directors on Wednesday gave the green light for investment in the Ecoplanta, a pioneering project in Europe to transform urban waste into renewable fuels and circular products, becoming a solution for reducing CO2 emissions in transport, while at the same time promoting the circular economy. The facility, which will be located in Tarragona and in which more than 800 million euros is expected to…

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