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Articles by The Corner

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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 nuevita

Companies 18th February 2026

Aena approves DORA III: 3.8% tariff increase between 2027 and 2031, €9.991 billion in investments

Bankinter | Aena (AENA) proposes a 3.8% annual tariff increase between 2027 and 2031. We raise our recommendation to Buy from Sell. Aena’s board of directors has approved its DORA III proposal, i.e. the regulatory framework for the next five years. This assumes investments of €9.991 billion, passenger numbers growing at a rate of approximately 1.5% per year and airport fees increasing by 3.8% per year. Bankinter analysis team’s view:…

3. Public debt

Spanish economy 18th February 2026

Spanish public debt grows by 4.8% in 2025, accounting for 100% of GDP

According to data released by the Bank of Spain (BdE), Spain’s public debt increased by 4.8% in 2025 compared to 2024 (an increase of €78.108 billion), reaching €1,698,681 million. This represents a new record high for a year-end closing, although the figure remained below the monthly record of €1,709,330 million registered last September. Consequently, the total debt for all Public Administrations closed 2025 at 100.8% of GDP, which is 0.9…

Grifols

Companies 17th February 2026

Moody’s raises Grifols’ corporate family rating from “B2” to “B1” and changes outlook from “positive” to “stable”

Link Securities | On Monday, credit rating agency Moody’s Ratings upgradedGrifols’ corporate family rating (CFR) from ‘B2’ to “B1”, reflecting the company’s continued operating performance and the ‘strength’ of its business fundamentals, Bolsamania.com reported yesterday. On the other hand, the agency has changed the outlook from ‘positive’ to ‘stable’. The rating agency explained that this change in rating reflects Grifols’ ‘solid operating performance, with strong revenue growth and profitability, which…

Greening

Companies 17th February 2026

EiDF request Greening and BME extend deadline for responding to takeover bid, which ended on Monday

Link Securities | EiDF has requested that Greening (GGR) and Bolsas y Mercados (BME) extend the deadline for responding to the takeover bid, which ended yesterday, Monday, according to Expansión newspaper. It claims that many shareholders have not been notified of the new change and whether their previous acceptance would extend to the new exchange or not. The deadline to participate in Greening’s bid for EiDF ended yesterday, Monday 16…

prosegur camion

Companies 17th February 2026

Prosegur reduces capital by redeeming 11.6 million treasury shares at €0.02 each

Link Securities | Prosegur Cash (CASH) reported that, on 10 February 2026, the deed relating to the capital reduction through the redemption of 11,678,000 treasury shares of the company, each with a nominal value of €0.02, was registered in the Madrid Mercantile Registry, thereby reducing the share capital by €233,560, from €29,698,269.74 to €29,464,709.74. The resulting share capital is represented by 1,473,235,487 ordinary shares of a single class and series,…

eeuu inflacion precios 1

In the World 17th February 2026

US CPI surprises in January with overall rate moderating to 2.4% and core of 2.5%

Bankinter | The CPI surprised on the upside in January. The headline rate moderated more than expected to 2.4% (-0.3pp), while the core rate of 2.5% (-0.1pp) was in line with expectations. Bankinter analysis team’s view: The good performance of inflation allows for a dovish/loose monetary policy by the Fed, whose reference rate is currently in the 3.50% / 3.75% range. Despite this, the strength of recent labour market data…

Social homes in Spain

In Spain 17th February 2026

Pedro Sánchez, who promised 183,000 homes in 2023, sets up “España Crece” fund to attempt building 15,000 per year

Yesterday, Sánchez presented the new “España Crece” (Spain Grows) fund and claimed it will mobilize €23 billion for housing construction at a rate of 15,000 units per year. Given that the Bank of Spain estimates a shortage of 700,000 homes in the Eurozone’s fourth-largest economy to resolve the housing crisis, at the current pace of “España Crece,” housing needs would not be fully met until around the year 2070. Sánchez…

enagas

Companies, Relevant News Item 17th February 2026

Enagás achieves 2025 targets: €339 million profit from capital gains on Soto la Marina sale, Sercomgas, Axent revaluation and update of GSP value

Renta 4 | The company’s revenues continue to be affected by the recording of the effects of the work carried out to seal the Castor wells (impact of €6 million on EBITDA). Regulated revenues are down due to the regulatory framework, in line with our forecast. EBITDA, reflecting a result from investees of €155 million, slightly higher than our forecast, and recurring operating expenses in line with 2024, slightly improves…

produccion cadenas 1

In Europe 17th February 2026

Eurozone industrial production falls 1.4% in December, confirming downturn at end of year

CdM | Eurozone industrial production fell by 1.4% in December on a monthly basis, below the 1.5% decline expected by consensus, according to the first estimate published by Eurostat on Monday. Across the European Union as a whole, the decline was 0.8%. Compared to November, when production had grown by 0.3% in the eurozone, the data confirms a deterioration at the end of the year. In addition, the previous figures…

telefonica edificio

Companies 16th February 2026

European Council calls for facilitating mergers in TMT sector

Banc Sabadell | The European Council has agreed to ask the European Commission to change the regulation on concentration in the TMT sector to facilitate mergers, which are necessary to boost innovation and investment in infrastructure. We note that the EC is in the process of approving the Digital Networks Act, although the draft disappointed the sector, as the measures envisaged to facilitate concentration are not forceful. Assessment: This is…