Bankinter : New car sales rose strongly in January and were up 11.5% year-on-year to 1,015k units in January against a 3.3% drop previously. Assessment: Good news for stock markets, as they show an improvement in demand and should support industrial activity. Brands such as Tesla, up 86.3%, Nissan, 38%, and BMW, 29.7%, stand out positively, while sales of Mercedes-Benz, down 10.6%, Ford, 6.1%, and Renault, 2.1%, all fall.
Alicia García Herrero (Natixis) | China’s banking sector technically opened up to full foreign competition in late 2019, as an aftermath of the Trump-Xi meeting in Beijing in 2017. The formal announcement has hardly changed the situation of foreign banks operating in China, which have a small and decreasing market share as well as lower profitability than domestic peers. Lower foreign participation than peers Despite the further opening, the share…
Renta 4| Telefónica and its UK partner Virgin Media have announced the creation of a subsidiary that aims to spin off fixed line assets and accelerate the rollout of broadband in the UK. Virgin Media O2 (VMO2) has a deployment of 16.7 million Real Estate Units and aims to reach 23 million by 2026. The new company (netco) would be 100% controlled by Virgin Media O2, although this new structure…
In 2023, exports of goods exceeded €383 billion (1.4% down on 2022), while imports reached €424 billion (7.2% less). This has meant that Spain’s trade deficit amounted to €40.56 billion in 2023, 43.3% less than in 2022. In 2023, non-energy exports increased by 0.7%, which partially offset the 20.6% drop in the energy segment. In this respect, it is worth noting that energy imports, especially gas, decreased compared to 2022….
Link Securities| Naturgy has installed the largest self-consumption photovoltaic plant in the province of Castellón, the digital newspaper elEconomista.es reports today. Naturgy has signed an agreement with Altadia, a world leader in the field of glazes, frits and digital ink for the ceramics sector with the aim of decarbonising its consumption through renewable energy. The agreement, sealed between the two companies, will involve the installation of more than 24,000 photovoltaic…
Link Securities| The National Securities Market Commission (CNMV) agreed on 16 February 2024 to admit for processing, in accordance with the provisions of article 17 of Royal Decree 1066/2007, of 27 July, on the rules governing takeover bids, the application for authorisation filed on 14/09/2023 by Amber EquityCo, S.L.U. for the launch of a voluntary takeover bid for 100% of the shares of Applus (APPS), in competition with the bid…
Banco Sabadell: According to press reports, the Board of Directors of the public company Stretto di Messina has approved the update of the Messina Bridge construction project, which will link the island of Sicily with the Italian mainland via a bridge of almost 4 km. Italy will pay €12,000 million to Eurolink, a consortium in which SCYR holds an 18.5% stake. Work is due to start this summer and be…
For her part, the vice-president of the Government and leader of Sumar, Yolanda Díaz, obtained 4.4% of the votes in her town (Fene) and did not win a single deputy in the regional assembly, so the memes ran last night through the social networks: “Sumar and Podemos double their results to the previous elections: In the previous elections they got nothing, and in these, nothing at all”. Nor did the…
Link Securities| Indra, a leading global consulting and technology company, has closed the acquisition of 65% of Global Training Aviation (GTA), thus reaching 100% of the capital, and becomes one of the few companies in the world able to cover the entire value chain of this business, from the development of the most advanced simulators and training systems to the provision of training services for civil and military pilots. Indra…
Bankinter : Final CPI January 2024 confirms +3.4% year-on-year (from +3.1% year-on-year previously). Underlying CPI also confirms +3.6% year-on-year (from 3.8% year-on-year previous). Month-on-month 0.1% month-on-month (from 0.0% month-on-month Dec-23) and in the Underlying -0.4% month-on-month (from +0.2% month-on-month Dec-23). Analysis: With no surprises, the final January data confirm the provisional figures. The difference between the General and Underlying Rate narrows to 0.2pp. The increase in the headline rate is…