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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.
Ferrovial DelPino 768x524 1

Spanish economy 14th May 2024

Ferrovial reports attributable profit of €152 million, up 61%, for 1Q24

Ferrovial, today announced Q1 results for the first time after being listed simultaneously in Spain, the Netherlands and the U.S. Adjusted EBITDA amounted to €254 million in the first quarter of 2024, a 37.6% like-for-like growth versus Q1 2023, due to the solid growth of the Toll Roads and Construction divisions. Revenue increased by 3.5% in like-for-like terms to €1.9 billion in the period. “Once again, the first quarter results…

Puigdemont

Spanish Politics 14th May 2024

Puigdemont wants to go for investiture in Catalonia and replicate model by which Sánchez governs Spain after losing elections

Despite the poor results of the pro-independence parties, far short of an absolute majority in Parliament, Junts believes it has a chance of governing. If this Sunday, former president Carles Puigdemont already suggested that he would make Pedro Sánchez’s dependence on JxCat’s seven deputies in Congress count, this Monday he has gone a step further and announced that he will try to opt for the investiture. “I can articulate a…

merlin properties

Spanish economy 14th May 2024

Merlin Properties considers capital increase, entry of a partner or divestment of data centre assets

Renta 4 | At Merlin Properties’ AGM on Thursday, the CEO, Ismael Clemente, revealed further details on the status of the company’s data centre strategy and options. Firstly, Merlin is reportedly receiving interest from a number of pension funds, sovereign wealth funds, insurance companies and other large investment vehicles. Secondly, the management team insists that the operation to grow the data centre plan has not yet been defined, although they…

endesa novisimo

Spanish economy 13th May 2024

Endesa unites possibilities of 5G and artificial intelligence as allies to prevent workplace accidents

CdM | Endesa has combined the use of 5G technology with artificial intelligence (AI) to improve the safety of workers during maintenance work on distribution network infrastructures, the company said. Specifically, e-distribución, the energy company’s network subsidiary, has deployed a private 5G network at the Ecogarraf substation in Barcelona as part of the European Smart5Grid project, which has explored the possibilities offered by 5G technology in the development of smart…

Puig edificio

World economy 13th May 2024

MilleniumGroup, with 1.459% of total voting rights, one of Puig’s strongest institutional investors

Link Securities | The US fund manager MilleniumGroup Management has emerged, along with CriteriaCaixa, as one of the institutional investors that have entered with most force in the capital of Puig Brands (PUIG), as reported last Friday by Expansión. Through the purchase of class B shares, the only ones traded on the stock exchange, the firm has acquired 1.459% of the total voting rights of the fragrances, cosmetics, fashion and…

choose france

European economy 13th May 2024

France brings together 180 global CEOs at 7th “Choose France” summit to attract investment to country

Norbolsa | France is holding the 7th summit known as “Choose France” today, in which Macron will gather 180 CEOs, in an event with which he hopes to attract investment with the aim of reindustrialising the country and reinforcing the Paris hub post-Brexit. It was expected that the amount of investment pledged would exceed last year’s €13bn, with investment commitments from companies such as Amaon, Pfizer and Morgan Stanley, and…

SalvadorIlla

Spanish Politics 12th May 2024

Socialists win elections in Catalonia, pro-independence parties fail to add up… A difficult victory to manage

Salvador Illa, the candidate of the Socialist Party of Catalonia (PSC), with 27.9% of the vote and 42 seats, has won the elections in Catalonia. Carles Puigdemont and Junts obtained 21.5% of the votes and 35 seats, but their great partner in the “procés”, Esquerra Republicana de Catalunya (ERC), which until now had been in charge of the government of the Generalitat, has suffered a debacle and has been left…

industria 1

Spanish economy 11th May 2024

Industrial production in Spain falls by 1.2% year-on-year in March, compared with an increase of +1.3% previously

Link Securities | The National Statistics Institute (INE) published yesterday that industrial production in Spain fell by 0.7% in March compared to February, in seasonally and calendar adjusted figures. In the month, all sectors presented negative growth rates in their production, although the largest decreases were seen in Capital Goods and Energy (both with a variation of -1.6%). In year-on-year terms, industrial production in Spain fell by 1.2% in March…

property market

Spanish economy 10th May 2024

Home sales down 13.7% in March; average price per square metre rises by 4.2%

Link Securities | According to data from the General Council of Notaries, released on Thursday by Expansión, the number of home sales and purchases fell by 13.7% in March in year-on-year terms, to 56,559 units, while the granting of mortgage loans for the purchase of housing fell by 4.5%. By type of housing, sales of flats fell by 13.9% year-on-year to 43,761 units, while single-family homes fell by 13.2% to…