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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.
Aena nuevo

Companies 14th October 2025

Aena passenger traffic up 2.6% in September, exceeding 30 million passengers

Intermoney | Aena (AENA) (Hold, Target Price €24) announced its passenger traffic figures for September 2025 on Monday when the market opened. Figures in Spain showed a increase of 2.6% last month, exceeding 30 million passengers, of which nearly 11.3 million were distributed between Barajas and El Prat, which increased their figures by slightly less than 1% and 4%, respectively. Among the other major airports, Malaga (up 5%) and Alicante…

bbva sabadell

Companies 14th October 2025

Only 2.8% of retail shareholders with shares deposited at Banco Sabadell accept BBVA’s takeover bid

Bankinter | Only 2.8% of retail shareholders who have their shares deposited at Banco Sabadell (SAB) accept BBVA’s takeover bid (BBVA). Bankinter analysis team’s view: This is a very low percentage, implying acceptance of only ~1.1% of the capital, as these shareholders represent ~30.8% of Sabadell’s share capital. We do not yet know the percentage of acceptance among retail investors who have their shares deposited with other entities and among…

young spaniards

In Spain 14th October 2025

Only 72% of Young People Aged 25-29 are Employed In Spain, Second Lowest Figure in EU-27

According to Funcas, the Spanish Savings Banks Foundation, in 2025, only 72% of young people aged 25 to 29 in Spain are employed. This figure is lower than the EU-27 average (77%) and places Spain in 26th position out of the 27 EU countries (ranking from highest to lowest rate), far behind the leaders: Lithuania (84%), the Netherlands (87%), and Malta (90%). Funcas, which finds it striking that more than…

Talgo building

Companies 13th October 2025

Talgo delays delivery of 13 new high-speed trains to Renfe

Link Securities | Talgo (TLGO) has once again delayed the delivery of 13 new high-speed trains to Renfe, which could result in further penalties from the public company, in addition to the €116 million it already faces for the delay of more than two and a half years in the delivery of the Avril 106 trains, according to Expansión newspaper.

tecnicasreunidasentrada

Companies, Relevant News Item 13th October 2025

Técnicas Reunidas, strong candidate to participate in €5.6 billion oil projects put out to tender by Kuwait

Link Securities | Técnicas Reunidas (TRE) is one of the strong candidates to participate in the oil projects put out to tender by Kuwait, through the state oil company Kuwait Oil Company (KOC), according to Expansión newspaper. Specifically, the process is divided into several lots totalling around $6.5 billion (around €5.6 billion). The newspaper notes that Técnicas Reunidas has submitted the best bids to build several fluid separation facilities and…

lecornu

European politics, In Europe 13th October 2025

Macron reappoints Sébastien Lecornu as Prime Minister for government with little chance of survival

Bankinter | Emmanuel Macron yesterday appointed a new government to be headed once again by Sébastien Lecornu. He made some changes to the Council of Ministers, notably in the Economy and Finance portfolio, with Roland Lescure taking charge of presenting the 2026 budget. The first Council of Ministers meeting will be held tomorrow. Analysis team’s view: Good news, although this new government offers little guarantee of survival. The fragmentation of…

EEUU Consumidores

In the World 13th October 2025

US consumer confidence remains virtually unchanged in October compared to previous month: 55.0 points from 55.1

Link Securities | The index measuring US consumer sentiment, compiled by the University of Michigan, fell slightly in its preliminary October reading to 55.0 points from 55.1 points in September, falling below the 55.8 points expected by FactSet consensus analysts. The index remained virtually unchanged from the previous month, as improvements in current personal finances and future business conditions for the coming year were offset by declines in expectations for…

indra edificio 2

Companies 13th October 2025

Indra and Ficosa to collaborate on development of electro-optical equipment for VCR 8×8 Dragón and VAC vehicles

Link Securities | The company, together with Ficosa Inversión, has signed a memorandum of understanding (MoU) to collaborate on the development of electro-optical equipment with LSAS (Local Situational Awareness System) driving and surveillance support capabilities for the VCR 8×8 Dragón and VAC vehicles, according to the financial portal Bolsamania.com. Indra has also signed a memorandum of understanding with Sirt, a Barcelona-based cybersecurity company, to increase capabilities and form multidisciplinary teams…

Acerinox

Companies 13th October 2025

Acerinox’s poor results in Europe, plus uncertainties in VDM’s specialised business, to continue until Q4 2025

Deutsche Bank | A stable third quarter is expected, but HPA headwinds continue to weigh on results; target price: €14 against last close of €11.84, buy recommendation. Acerinox is set to publish its third-quarter results, and we expect stable figures in line with forecasts. However, poor results in Europe, as well as uncertainties in VDM’s specialised business, will continue into the fourth quarter. Although prices in the US have risen…

Funcisla Clemares

In Spain 13th October 2025

“In AI, as with all new technologies, there is an overvaluation in the short term.”

According to Fuencisla Clemares—Vice President for Europe, the Middle East, and Africa at Google, board member of Sonae, and advisor to Cosentino—“in Spain, our productivity is stagnant, and we are losing competitiveness as a country. Artificial intelligence is clearly an opportunity that we must embrace, develop, and implement as soon as possible and with the depth required. Our studies suggest that, in the case of Spain, AI could have an…