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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.
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Spanish economy 20th December 2024

Amadeus to pay interim dividend of €0.50/share on 17 January; total amount in 2024 expected to be €1.32 vs. €1.24 in 2023

Intermoney | Amadeus (Hold, PO 65 €) announced yesterday, with the market open, that it will distribute to its shareholders an interim dividend of €0.50/share on 17 January. The stock will trade ex date on 15 January. The Group reiterates its dividend policy of a pay-out of between 40 and 50% of consolidated profit for the year. Specifically, for 2024, the Board of Directors expects to be close to the…

bankinterchuliCM

Spanish economy 19th December 2024

Bankinter complies with binding MREL of 20.31% of total risk exposure and 6.39% of leverage ratio exposure

Link Securities | The Bank of Spain (BdE) has informed Bankinter that the Single Resolution Board, as the group’s resolution authority, has taken a decision determining the minimum requirement for Total and Subordinated own funds and eligible liabilities (MREL) for Bankinter. This decision sets a binding total MREL requirement, to be met as from its notification, at the consolidated level, of 20.31% of the Total Risk Exposure Amount (TREA) and…

ECB night

In Europe 19th December 2024

ECB highlights strength of European banks with CET1 capital ratio of 15.8%, slightly increases capital requirements by 10 b.p. by 2025

Bankinter: The European Central Bank highlights the solidity of banks and slightly increases capital requirements for 2025. The ECB gives a positive assessment of the sector’s liquidity and solvency position with a CET1 capital ratio of ~15.8% and leverage of 5.8% (capital/total assets). By 2025 it is to increase capital requirements by 10 bps to 1.2% of RWAs (Risk Weighted Assets). Our view: We have a positive assessment of the…

Espana Bandera Mapa 1

In Spain 19th December 2024

Spain increases public debt by 3.4% annually (55 billion) to raise GDP by 3%

According to data from the Bank of Spain (BdE), the total debt of the Spanish Public Administrations closed October at €1,628,243 million, €7,873 million less than in September. In relation to October 2023, the debt increased by €54,954 million. The majority of the debt was concentrated in the State, with €1,480,032 million, €10,067 million less than a month earlier. Meanwhile, the debt of the Autonomous Communities closed October at €334,210…

banco sabadell

Spanish economy 19th December 2024

Sabadell complies with BdE’s minimum requirements for own funds and eligible and subordinate liabilities

Link Securities | Banco Sabadell (SAB) has been notified by the Bank of Spain (BoE) of the decision adopted by the Single Resolution Board (SRB) on the determination of the minimum requirement for own funds and eligible liabilities (MREL) and the subordination requirement on a consolidated basis applicable to it. The requirements to be met, with immediate effect, are as follows: The minimum MREL requirement is 22.14% of the total…

defensa

In Europe 19th December 2024

Europe needs defence investments of €500 billion over next decade just to cover air defence system

Norbolsa: Europe-defence: the debate continues on how to raise defence spending in Europe. The pressure of war, Putin’s threat and Trump’s pressure to raise the contribution to NATO are heating up the debate, but it remains deadlocked on how to do it: whether from national budgets, jointly from Europe or by creating a new funding vehicle. It is estimated that Europe requires investments of €500 billion over the next decade,…

eeuu capitolio

In the World 19th December 2024

US Congress close to agreeing stopgap spending bill to avoid government shutdown this Saturday

BancaMarch | The US Congress is close to agreeing on a stopgap government spending bill to avert Saturday’s government shutdown. The temporary measure will fund the government until 14 March. Lawmakers have agreed to add a number of provisions, including more than $100 billion in funding for disaster relief, more than $10 billion in economic assistance for farmers and authorising the sale of E15, a fuel blend that is 15%…

Repsol's bet on alternative energies

In Spain 18th December 2024

Spain: PNV refuses to support extraordinary tax on energy companies

Reconciling the support of center-right nationalist parties, such as the Basque Nationalist Party (PNV) or Junts per Catalunya (the party of the fugitive Puigdemont), with that of extreme left parties (Podemos, Sumar…) was possible a year ago, to elevate Pedro Sánchez to the presidency of the Government despite having lost the elections. Spain has never had a weaker government, more willing to stay in power by making the necessary concessions…

indra

In Spain 18th December 2024

Indra showcases capabilities of state-of-the-art Cyber Situational Awareness System

Link Securities | The company, invited by NATO’s Allied Command Transformation (ACT), demonstrated at one of the world’s largest collective cyber defence exercises, the Cyber Coalition 2024 held in Estonia from 2-6 December, the concept and capabilities of a new state-of-the-art Cyber Situational Awareness System, digital portal Bolsamania.com reported yesterday. The platform (called CySAS, Cyber Situational Awareness System) provides a real-time view of operations being conducted in and through cyberspace…

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In the World 18th December 2024

Meliã makes new asset sale, 25% of two hotels in Punta Cana, for €60 million

Intermoney | According to various media reports, Meliã (Buy, P.O. 9.0) has reached an agreement with Dominican entity Grupo Popular for the sale of 25% of two hotels (Paradisus Palma Real Golf & Spa and ZEL Punta Cana) in Punta Cana for €60 million. No further details have been given regarding the price paid compared to the last valuation or how it will affect its bottom line. Assessment: Positive news,…