Norbolsa | Cellnex (CLNX) has hired JP Morgan as an advisor to explore the potential sale of its stake in the telecommunications group’s subsidiary in Switzerland. It currently holds a 72% stake which, according to press reports, could have a market value of around €1.1 billion. This would imply valuing 100% of the subsidiary at €1.5 billion. This divestment would be the fourth in a row after sales in Austria,…
Bankinter | China’s inflation data remained unchanged in December and CPI ended at 0.1%, in line with expectations. The Underlying Rate rises one tenth of a percentage point to 0.4% year-on-year. Producer prices closed at 2.3% down year-on-year, slightly better than the 2.4% expected versus 2.5% previously. Analysis team’s view: Inflation continues to weaken and to approach 0% and to reach the lowest since March 2024, while Industrial Prices remain…
The American rating agency S&P stated this Thursday that the process of adjusting the public deficit in Spain could have been ‘faster’ in light of the good economic data collected and warned of the likely failure to meet the target set for this year, at 2.5% of GDP. According to the rating agency in its 2025 forecast presentation, the Spanish public sector remains heavily indebted and has relied its fiscal…
Link Securities | HBX Group, a tourism company formerly known as Hotelbeds, dedicated to the sale of hotel rooms and flats to tour operators and travel agencies, is working on its IPO, according to Expansión newspaper. The structure will prioritise the capital increase tranche (for about €700 – 750 million) over the sale of securities (for up to €500 million euros) by its shareholders, Cinven and CPPIB, as they aim…
Intermoney | ACS (Buy, PO 48 €), through its subsidiary Thiess, has won a contract in Indonesia valued at 320 M€ to carry out mining operations for six years in Central Kalimantan, according to Expansión newspaper. Thiess will be responsible for all mining activities, including setting up facilities, technical services, overburden removal and water management. Work will begin in early 2025 and will be aligned with Thiess’ strategic focus on…
CdM | Industrial producer prices rose by 1.6% in the euro area and by 1.7% across the European Union (EU) in November compared with the previous month, according to first estimates from Eurostat, the EU’s statistical office. Compared with November 2023, industrial producer prices declined by 1.2 per cent in the euro area and 1.1 per cent in the EU. In the monthly comparison, in the euro area, industrial producer…
Naturgy announced on Thursday the signing of a strategic alliance with Hispania Silva, a company specialized in waste valorization with extensive experience in the agri-food sector, for the construction of a minimum of 20 biogas production plants, which could reach as many as 30. The plants that are part of this alliance, which will be distributed throughout Spain and will be operational before 2030, will have the capacity to generate…
Morgan Stanley: Real estate transactions recorded in Paris office space were down 9% and in Centre West Paris 8%, implying that the pace of decline is moderating. However, volumes remain low even though they have recovered from lows. On the other hand, vacancies continue to rise and available supply increased in all regions in the quarter. Rental growth was up 6% year-on-year, sustained over previous levels. While remaining positive on…
Link Securities | IAG (IAG) announced on Tuesday separate invitations to holders of its (i) bonds in the aggregate nominal amount of €500,000,000, issued at 1.50 per cent and maturing in 2027 (the 2027 Bonds) and (ii) bonds in the aggregate nominal amount of €700,000,000, issued at 3.75 per cent. and maturing in 2029 (the 2029 Bonds) offering the purchase of the Bonds by IAG in exchange for a cash…
Link Securities | Caixabank (CABK) is preparing the launch of a real estate portal to take advantage of the peak of sales and purchases and record prices that the residential sector is experiencing in all Spanish provinces, according to Expansión newspaper. It will be a similar website to www.idealista.com for buying and renting property (new and used) but only real estate companies registered on the portal will be able to…