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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.
santander sucursal 3CM

Spanish economy 24th July 2024

Santander reports profit of €6,059 million, up 16%, in first half of year

Santander achieved an attributable profit of €6,059 million in the first half of 2024, up 16% in current euros versus the same period last year, as strong growth in net interest income in all the global businesses and regions, supported by four million more customers, and very good cost control, more than offset the expected year-on-year growth in provisions. The group continued to increase profitability and shareholder value creation, with…

Ebro Foods productos

Relevant News Item 24th July 2024

Ebro Foods 2Q24 Results Preview: good operating performance and favourable raw materials outlook

Banco Sabadell: Of the stocks to be published in the next few days, we highlight Ebro Foods (published on 29/07), given the good operating performance expected together with a favourable outlook for raw materials, which should allow management to be more optimistic for the year as a whole. This should have a positive impact on the share price, especially if we take into account that the stock has been underperforming…

BBVA novedad

Relevant News Item 23rd July 2024

BBVA chooses Telefónica Tech to boost cybersecurity of global operations

Link Securities | BBVA (BBVA) has chosen Telefónica Tech (Telefónica (TEF)) to boost the cybersecurity of its operations on a global scale with the incorporation of the most advanced technologies in artificial intelligence and process automation for the prevention of cyber threats, according to the digital portal Bolsamania.com. In addition, this alliance involves the creation of a new specialised centre in Mexico, which will function as a mirror of BBVA’s…

exportaciones comercio viajes

Spanish economy 23rd July 2024

Spain’s trade balance generates €2.3-billion deficit in May compared to €3.1 billion in same month last year

Link Securities| The Ministry of Industry, Trade and Tourism published on Friday that Spain’s trade balance generated a deficit of €2.3 billion in May compared to the €3.1 billion it reached in the same month last year. In May, exports increased by 2.3% to €34.7 billion, mainly driven by higher shipments of energy products (+35.9%), raw materials (+13.1%) and food, beverages and tobacco (+9.1%). At the same time, imports remained…

madrid rental market

In Spain 23rd July 2024

Spain: Rents rise by 9% and exceed barrier of €1,000 per month for first time, according to Fotocasa

The price of rents has risen by 9% and reached highs in June, up to €12.65 per square meter, according to data from Fotocasa, which has specified that a home of 80 square meters already costs €1,012 per month. “For the first time in history, the price of rent now exceeds the tacit barrier of one thousand euros per month,” explains the director of studies and spokeswoman for Fotocasa, María…

banco sabadell josep oliu

Spanish economy 23rd July 2024

Banco Sabadell reports €791 million profit at mid-year, up 40%

Link Securities | SAB increased its net interest income by 9.8% (+8.8% year-on-year at constant rates; +1.1%; FactSet consensus) between January and June, compared to 1H2023, to €2,493 million, mainly due to higher credit yields and revenues from the fixed-income portfolio supported by higher interest rates, offsetting higher cost of funds and capital markets and lower average volumes. – SAB also reduced its net fees and commissions by 3.3% year-on-year…

Naturgy

Spanish economy 23rd July 2024

Naturgy finalises definitive price agreement with Sonatrac for gas supplies, retroactively for 2023, and for 2024

Bankinter | Naturgy is about to seal a new gas price agreement with the Algerian state-owned monopoly Sonatrach, its main supplier. Both groups are finalising a pact that definitively fixes the price of supplies in 2023 retroactively and those of 2024. In addition, the criteria for revisions from 2025 to 2027 are beginning to be established.for revisions from 2025 to 2027. This will put an end to years of tense…

crowdstrike

In the World 23rd July 2024

Negative impact on CrowdStrike will be prolonged in short term

Bankinter | A flaw in an update to its Falcon platform has caused incidents worldwide on Windows-based devices. The company has acknowledged that the security patch installed in the early hours of Thursday to Friday morning was the cause of failures when logging on to Windows devices, locking them, displaying the blue screen of death (BSOD) and preventing a reboot. CrowdStrike has also confirmed that it is close to being…

enagas logo

Spanish economy 22nd July 2024

Fitch Ratings upgrades Enagás’ credit rating to “BBB+” with “stable” outlook

Link Securities | On 19 July 2024, the credit rating agency Fitch Ratings has published a note in which it has upgraded Enagás’ credit rating to “BBB+” with a “stable” outlook. The rating upgrade is supported by the improvement in business risk as a result of the execution of the company’s asset rotation, the prudent capital structure defined and the strong deleveraging following the sale of the stake in Tallgrass.

Xi Jinping

In the World 22nd July 2024

Third Plenum points to more muddling through but with more mud than ever

Alicia García Herrero (Natixis) | China’s long-awaited Third Plenum is finally over. Four days of high-level meetings (from July 15 to 18) among Party leaders ended with a perplexingly vague read-out of the meeting. The press conference on July 19 has not managed to assuage China watchers’ general impression of an uneventful gathering even if 300 reforms have been counted from official media but, reportedly, most of which already underway….