Bankinter: There has been a new legal setback for the use of glyphosate: a US court sentences Bayer to pay $2.25 billion in compensation to a person affected by the use of glyphosate. Assessment: Negative news, this is the highest compensation that Bayer has been ordered to pay. It is expected that the company will manage to reduce this amount on appeal, as it exceeds the Supreme Court’s guidelines. In…
Link Securities | The Portuguese government has launched one of the biggest infrastructure projects in the pipeline in Europe, as reported yesterday by elEconomista.es newspaper. With a budget of almost €2 billion, the tender for the design, construction, financing and subsequent operation and maintenance of the first section, between Porto and Aveiro (Oiã), of the Lisbon-Porto high-speed railway line, implemented through a public-private partnership contract, has attracted at least five…
The CPI rises 3 tenths of a percentage point in January to 3.4%, according to the data released by the INE, due to the rise in electricity prices and despite the drop in petrol prices. Thus, inflation is once again rising after two consecutive months of falls and is at its highest level since last October, when it reached 3.5%. For its part, core inflation moderated by two tenths of…
In line with the +0.1% year-on-year rise in M3 in December (its first increase since June 2023), lending to the private sector increased +0.5% year-on-year vs +0.4% in November, mainly thanks to a rebound in corporate lending (+0.4% vs 0% in November). The ECB released Eurozone private sector lending data on Friday, with an increase of €2.6mm in December (+0.5% year-on-year) thanks to a rebound in corporate lending (+0.4% vs…
Norbolsa| Spanish energy companies are negotiating with the government to redesign the tax on their profits. In this regard, among the companies, Repsol (REP), Cepsa, Endesa (ENE), Iberdrola (IBE) and Naturgy (NTGY) stand out; all of which are trying to find a solution as soon as possible to the windfall tax that was created two years ago against large companies. For the time being, the tax is still in force…
Bankinter| The Underlying Personal Consumption Expenditures (PCE) moderated to 2.9% year-on-year in December 2023 (from 4.9% Dec 2022). The Personal Consumption Expenditures rebounded to 2.6% year-on-year; 0.2% month-on-month as anticipated (from negative 0.1% average). The Underlying Deflator improved to 2.9% year-on-year (from 3.2% pre and 3.0% expected). Month-on-month it met the 0.2% estimate (0.1% month-on-month previously). Personal Income was up 0.3% month-on-month, meaning no surprises. Personal Spending rose 0.7% m/m…
BancaMarch: In the euro zone, money supply unexpectedly rebounded in December: M3 growth accelerated and returned to positive territory by 0.1% year-on-year versus a fall of 0.9% in the previous month. On the lending side, there was a mixed performance. Lending to households slowed down again by 0.3% year-on-year versus 0.5% previously, while lending to non-financial corporations returned to positive territory by +0.4% versus 0.0% previously.
Alphavalue / Divacons| The stainless steel company will pay this Friday an interim dividend for the financial year 2023, payable in cash, in the amount of €0.31/share to each of the existing and outstanding shareholders of the company entitled to receive it, as approved by its Board of Directors last December 20th. In accordance with the dividend policy of the company specialising in the manufacture of stainless steel and high-performance…
The National Statistics Institute (INE) published on Friday that according to the Labour Force Survey (Encuesta de Población Activa, EPA), the number of unemployed people decreased in 4Q2023 by 24,600 people compared to 3Q2023, to 2.831 million unemployed, while the number of employed people decreased by 19,000, to 21.247 million. Thus, Spain’s unemployment rate fell to 11.76% from 11.84% in 3Q2023, bringing the rate below the 11.9% expected by FactSet’s…
Banco Sabadell: The EC said yesterday it is launching a detailed (phase II) investigation into Iberia’s proposed takeover of Air Europa as it wants “the transaction not to adversely affect prices or quality of services”, according to Vestager. The EC now has 90 working days (until 7 June 2024) to take a final decision, provided it does not request additional information from the parties involved, in which case the clock…