CdM | Public administration debt stood at 103.4% of gross domestic product (GDP) in June, down 1.9 percentage points from a year ago, according to data from the Excessive Deficit Protocol (PDE) published by the Bank of Spain. In absolute terms, the debt balance stood at €1.691 trillion in June, with an interannual growth rate of 4%. By subsector, the State debt balance stood at €1.534 trillion, with an interannual…
CdM | The annualised return on equity of Spanish banks rose to 14.43% in the first quarter, compared to 13.72% in the previous quarter. Furthermore, compared to the first quarter of 2024 (12.28%), the increase was 2.15 percentage points, according to statistics published by the Bank of Spain. The capital ratios of all credit institutions increased in the first quarter of 2025. The Common Equity Tier 1 (CET1) ratio stood…
Link Securities | The Spanish construction company, in consortium with the US company Halmar, has been awarded a contract worth $1.972 billion (approximately €1.7 billion) in the United States to build tunnels for an extension of the New York subway, according to elEconomista. The award has been approved by the New York Metropolitan Transportation Authority, which will give both companies four years to complete the project. In New York, FCC…
Link Securities | ACS (ACS), through its US subsidiary Turner Construction Company, has announced that it has been selected to build a 46-storey commercial office tower at 343 Madison Avenue in downtown Manhattan, according to the financial website Bolsamanía. The project will include an underground entrance to public transport serving Grand Central Terminal, further improving connectivity in one of New York City’s busiest transport hubs,” the company explained in a…
CdM | On Tuesday, Berenberg experts raised their assessment of Iberdrola (IBE) to €17.50 per share from the previous €14 per share, and reiterated their recommendation to “hold” the stock in the portfolio. According to their latest report on the energy group, ‘by December, Iberdrola will have high visibility on remuneration in key geographies for its Networks business, at a time when global energy networks require an unprecedented level of…
Link Securities | Prosegur (PSG) reported on Monday that it has provided its employees with an artificial intelligence (AI) assistant developed in-house, which features state-of-the-art, secure technology and aims to assist purchasing managers in the ICT environment. The assistant, called LexIA, increases employees’ analytical capabilities fourfold, reduces the time needed to consult the contractual terms and conditions of any document, and enables the development of an intelligent repository where quick…
Bankinter | The rating agency notes that significant revenue from tariffs should offset other sources of fiscal pressure. Although it considers an improvement in the US deficit unlikely, it expects the country’s fiscal health to remain quite stable in the coming years, supported by relatively solid economic growth. The agency anticipates a gradual moderation in growth, with GDP growth projections of 1.7% for 2025 and 1.6% for 2026, due to…
CdM | The General Business Turnover Index (ICNE) rose by 6% in June, marking two consecutive months of increases, according to data from the National Statistics Institute (INE). This figure represents the highest rate since last March and is almost five points higher than in May. Adjusted for seasonal and calendar effects, company turnover in June showed a variation of 5.1% compared to the same month last year. The indices…
Link Securities | Ferrocarrils de la Generalitat de Cataluña (FGC) has awarded the contract for cleaning the stations and facilities of the metropolitan lines to the Acciona (ANA) group and the services company Grupo Sifu, through its subsidiary Brócoli Facility Services, according to a report in Expansión newspaper on Tuesday. The tender, divided into two lots, has a total value of €11.35 million and a duration of three years. The…
Bankinter | GDP grew 1.0% (quarter-on-quarter) in Q2, beating consensus estimates and paving the way for further rate hikes by the Bank of Japan. Japan’s growth in Q2 has been a positive surprise, exceeding consensus forecasts of 0.4% growth. In addition, growth in the previous quarter has been revised upwards to 0.6% (quarter-on-quarter) from -0.2%. Growth was led by business investment, which rose by 1.3% in the quarter, while consumption…