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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.
ACS Fachada

In the World 17th December 2024

ACS subsidiary Turner to build state-of-the-art Emergency Operations Centre in Costa Mesa, California

Link Securities | Turner, ACS’s US subsidiary, has won a $158 million (around €150.4 million) contract to build a state-of-the-art Emergency Operations Center in Costa Mesa (California, USA), Expansión reports today. As reported by Turner on Monday, the facility will strengthen emergency preparedness and response capabilities in Southern California by providing critical infrastructure for disaster and emergency management. The centre will coordinate emergency management and disaster response.

empleo eurozona

European economy 17th December 2024

Eurozone labour costs slow down in Q3, growing 4.6% year-on-year vs. 5.2% previously

Bankinter : Labour Costs rebounded 4.6% in Q3 against 5.2% previously (revised up from 4.7%). Wages were up 4.4% versus 4.9% previously (revised up from 4.5%). Our view: Wage pressures remain elevated and will hamper the ECB’s rate cut process in upcoming meetings. This is especially so as they will be coupled with a more hawkish Fed as a result of the pick-up in inflation that will be triggered by…

bbva sabadell fusion 2

In Spain 17th December 2024

Andrea Orcel’s Bicycle and the BBVA-Sabadell Confusion

Aurelio Medel (5 Días) | The head of Unicredit accelerates acquisitions to maintain profit growth and attempt to lead European consolidation. Andrea Orcel took over Unicredit with the stock below 10 euros and has driven it above 40. However, shares of the second Italian bank began to show signs of fatigue in the summer, and not only because it has already quadrupled its value. It is also due to the…

real estate madrid

In Spain 17th December 2024

Spain: house purchases reach 69,418 transactions in October, highest figure since May 2007

According to the figures released yesterday by the National Institute of Statistics (INE), the sale and purchase of homes increased in October by 51.3% year-on-year, reaching a total of 69,418 transactions, the highest figure since May 2007, when over 75,000 sales were recorded. In October, transactions for new homes increased by 83.4% year-on-year, reaching 16,224 transactions, while those for used homes rose by 43.6%, totaling 53,194 transactions. 92.4% of the…

Corporacion alba

Spanish economy 17th December 2024

Corporación Financiera Alba’s delisting offer exceeds company’s 2007 all-time high of €60.70

Alphavalue / Divacons | As we highlighted on Friday, the March family agreed to delist the Spanish holding company through a takeover bid at a price of €84.20/share in cash, which represents a premium of 79.5% over the closing price of €46.9/share. This offer exceeds the all-time high reached in 2007 (€60.70). The takeover bid will be presented by the company together with Carlos March Delgado and his company Son…

amper. def

Spanish economy 16th December 2024

Amper acquires 100% of Navacel, specialists in offshore wind energy steel structures, for €23.8 million

Renta 4 | The company has acquired 100% of the share capital of Navacel Process Industries, a company specialising in the design, manufacture and assembly of metal structures for offshore wind energy in Biscay. The purchase price is €23.8 million and Amper will pay €12 million in cash and the remaining €11.8 million through the issue of new Amper shares to be subscribed by Navacel companies. The new Amper shares…

indra edificio 2

In Europe 16th December 2024

Eurocontrol successfully implements first digital air traffic management platform using Indra technology

Alphavalue/DIVACONS | Eurocontrol successfully implemented, in collaboration with ATOS and Microsoft, the first digital platform for air traffic management in the public cloud. This platform uses digital technology developed by Indra (IDR) and is part of the Integrated Nerwork Management (iNM) programme, driving the digitisation of the systems that manage the European aviation network. Indra: Add, Target Price €20.5/share.

oil plataform

In the World 16th December 2024

Market continues to see some oil oversupply in 2025, pointing to Brent at around $73/b in January 2025 and towards $70/b by year-end

Renta 4 | The International Energy Agency’s (IEA) December oil report was published last Thursday, revising downwards its demand growth estimate for this year (+840k boe/d against 920k boe/d previously) and increasing it for 2025 (+1.1 million boe/d against +0.99 million boe/d previously) to 103.9 mln boe/d. It also published its estimate for total oil supply growth of +630k boe/d this year and +1.9 mln boe/d in 2025, to 104.8…

ferrovial carretera

In Spain 16th December 2024

Ferrovial increases buyback programme to €600 million and extends duration until 30 May 2025

Link Securities | Ferrovial (FER) has announced to the National Securities Market Commission (CNMV) that, in accordance with the authorisation granted by the General Meeting of the company held on 11 April 2024 under agenda item 8, it has agreed (i) to extend the duration of the current Share Buyback Programme until 30 May 2025 (inclusive), and (ii) to increase the maximum amount of investment under the Programme by €300,000,000,…

aena

In Spain 15th December 2024

Aena: number of passengers at Spanish airports grows 9.2% year-on-year to 21.6 million in November

Bankinter: Aena’s airports registered 21.6 million passengers in November, which is up 9.2% compared to November 2023. It accumulates an increase of 9.4% so far this year (vs. 9.4% previously). Analysis team’s opinion: Good news for Aena. Airport traffic continues to break historical records month after month and will most likely end the year slightly above our estimates (306M passengers; up 8% on 2023 figures). However, the good prospects are…