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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.
ECB skyscriper

European economy, In Europe 27th November 2025

ECB warns of increased risk of sharp price adjustments owing to high valuations in increasingly concentrated asset markets

Link Securities | The ECB’s Financial Stability Report warned yesterday that high valuations in increasingly concentrated asset markets increase the risk of sharp price adjustments. In the report, the institution noted that, since April, global stock markets have reached new all-time highs and credit spreads have remained tight in historical terms. In addition, the ECB warned that market confidence could change abruptly due to a deterioration in the growth outlook…

Cellnex new

Companies 27th November 2025

Cellnex plans to invest €2.5-3 billion in purchasing land where its towers are located

Link Securities | Cellnex (CLNX) CEO Marco Patuano said in an interview with Expansión newspaper that his company plans to invest between €2.5 billion and €3 billion in the coming years in the purchase of land where its towers are located. Last year, the company created Celland, a subsidiary specialising in this type of business. Patuano also identified defence, densification, transport and energy as the central pillars of growth in…

Acciona energia guapa

Companies 27th November 2025

Acciona Energía negotiates sale of wind assets in Galicia for €700 million

Banc Sabadell | Acciona Energía (ANE) is reportedly negotiating the sale of its wind assets in Galicia (26 wind farms with a total of 550 MW, which came into operation between 1998 and 2005) to the company Recursos de Galicia (a public-private partnership) for around €700 million, although the transaction is still in its early stages, as Recursos Galicia has only sent a non-binding proposal, according to Expansión. We would…

iberdrolaTC

Companies 27th November 2025

Iberdrola formalises alliance with Starwood Capital infrastructure fund to expand data centres in Spain

Bankinter | Iberdrola (IBE) and Echelon Data Centres (controlled by the US fund Starwood Capital Group) have formalised the creation of Echelon Iberdrola Digital Infra, the joint venture through which they will develop the data centre business in Spain. Echelon will hold an 80% stake in the joint venture and Iberdrola will hold 20%. Iberdrola will contribute its experience in renewable energy generation and in the development and management of…

pensioners

In Spain 27th November 2025

OECD calls on Spain to reform pensions to make them sustainable

The Spanish pension system has been in deficit for some time. Thus, this year, the payment of pensions will require a fund transfer of €50 billion that the Government must provide by diverting funds from other budget items. This amount—€50 billion annually—is exactly equivalent to what the Spanish State obtains by borrowing in the markets to finance the public deficit: €50 billion, or 3% of GDP. The OECD warns that…

EEUU consumidores conference board 1

In the World 26th November 2025

US consumer confidence deteriorates significantly to 88.7 points in November

Intermoney | Consumer confidence, as measured by the Empire State index, deteriorated significantly in November, falling to 88.7 points (from 95.5 previously). This figure was significantly below the consensus expectation of 93.3. Future expectations also took a clear step backwards to 63.2, while perceptions of the current situation fell 4.3 points to 126.9 points. Consumers’ perceptions of the current labour market were slightly weaker, and the labour market differential, the…

matricula 1

In Europe 26th November 2025

Spain leads EU vehicle and electric car registrations

Link Securities | According to data published by the European Automobile Manufacturers’ Association (ACEA), passenger car registrations in the European Union (EU) grew by 5.8% year-on-year in October (10.0% in September), reaching 916,609 units. This marked the fourth consecutive month of growth, with three of the four largest EU markets recording gains. Registrations in Spain increased by 15.9%, followed by Germany, which rose by 7.8%, and France, which grew by…

metrovacesa2

Companies 26th November 2025

Metrovacesa agrees to pay €1.12 gross per share on 23 December

Link Securities | At its meeting held on 25 November 2025, the Board of Directors of Metrovacesa (MVC), and in relation to the distribution of dividends charged to freely available reserves (share premium) approved by the Ordinary General Meeting of MVC on the same date, has agreed to make a payment of €1.12 gross per share on 23 December 2025. The most relevant dates in relation to this cash payment…

ercros

Companies 26th November 2025

CNMC authorises Bondalti Ibérica’s takeover bid for Ercros after Ministry of Economy fails to refer transaction to Council of Ministers

Alphavalue/Divacons | The National Commission on Markets and Competition (CNMC) has given final authorisation for the takeover bid by Portuguese firm Bondalti Ibérica on Spanish chemical group Ercros, after the Ministry of Economy, Trade and Business did not consider it necessary to refer the transaction to the Council of Ministers.

acerinox industria acero

Companies, Relevant News Item 26th November 2025

Acerinox: EC plans to strengthen trade protection point to shift towards industrial policy more favourable to steel

Deutsche Bank | In recent years, steel stocks have been affected by weak demand, import pressure and political headwinds, and although fiscal spending and interest rates could provide support, we remain cautious on demand. However, the European Commission’s (EC) plans to significantly strengthen trade protection point to a significant shift towards a more steel-friendly industrial policy. If these measures are implemented, even partially, steelmakers are likely to return to an…