Top Stories

Articles by The Corner

About the Author

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.
industria 1

Spanish economy 9th July 2024

Industrial production in Spain rises 0.4% year-on-year in May against 0.2% previously

Link Securities | The National Statistics Institute (INE) published that industrial production in Spain fell by 0.1% in May compared to April in seasonally and calendar adjusted data. By sector of activity, in May the production of Energy increased by 1.4% and grew the most, while that of Capital Goods fell the most, by 1.1%. On a year-on-year basis, industrial production, adjusted for seasonal and calendar effects, increased by 0.4%…

Xi Jinping

In the World 9th July 2024

The Third Plenum: Chinese medicine to balance the economy

Alicia García Herrero (Natixis) | The market is closely watching the long-awaited Third Plenum in China, which will be hosted from July 15 to July 18 in 2024. Historically, this event has been pivotal in signaling key policy shifts and economic reforms in China. This time around, market participants and China watchers have a very specific question: will measures be announced for the Chinese economy to revive after years of…

grifols blood bags

Spanish economy 9th July 2024

Grifols family and Brookfield considering takeover bid to delist Grifols from stock exchange

Grifols (GRF) informed the National Securities Market Commission (CNMV) yesterday that on 7 July the Board of Directors of GRF, at an extraordinary meeting, received a request from GRF’s family shareholders and Brookfield Capital Partners (UK) Limited to allow access to certain company information in order to carry out a due diligence process in relation to a possible acquisition of GRF shares. The Board was informed that the purpose of…

Iberdrola Guggenheim

Spanish economy 9th July 2024

Iberdrola overtakes historical leader Endesa as largest electricity retailer in Spain, with over 10 million contracts

Link Securities | According to the latest data compiled by the National Markets and Competition Commission (CNMC), Iberdrola is consolidating its position as the largest electricity retailer in Spain by number of customers, taking this position away from Endesa, historically the leading electricity company, according to today’s edition of the Expansión newspaper. Iberdrola managed to remain above ten million contracts with 10,116,303, a market share of 33.33%; while Endesa decreased…

bbva sabadell

Spanish economy 8th July 2024

BBVA to issue up to 1,126 million new shares to Banco Sabadell shareholders who accept offer of one BBVA share for every 4.83 Sabadell shares

Link Securities | The digital portal Bolsamania.com reported on Friday that 96% of BBVA shareholders gave their approval to the capital increase required for the takeover bid for Banco Sabadell at the Extraordinary General Meeting held on Friday. The quorum at the meeting was 70.75% and the shareholders gave “their firm support to the capital increase necessary to extend our offer to SAB shareholders”, said the chairman of the Basque…

industrial production worker

Spanish economy 8th July 2024

Spanish industrial production shows less dynamism: activity falls 0.1% month-on-month in May

BancaMarch : In Spain, this Friday, industrial production data have been published showing a lower dynamism: the sector’s activity fell by -0.1% monthly in May and previous data were revised downwards, which places the growth rate against last year at +0.4%, a rebound of two tenths compared to the previous month. By sector, and in indices adjusted for seasonal and calendar effects, Non-durable consumer goods (+2.7%) presented the highest annual…

Repsol novedad

Spanish economy 8th July 2024

Repsol reaches agreement for sale of portfolio of generation assets for €140 million

Renta 4 : Agreement for the sale of a portfolio of distributed generation assets in France for €140 million. According to press reports, Repsol has reached an agreement to sell a portfolio of distributed generation assets in France to the French company Altarea for €140 million. These assets are part of the projects acquired in 2023 from the Asterion Industrial Partners fund, when it bought a portfolio of 7,700 MW…

stock markets 777x400 1

Spanish economy 8th July 2024

Spanish stock market (PER 14x) trades at a significant discount to other European indices (Eurostoxx PER 16.2x)

Deutsche Bank | The Ibex trades at a significant discount to other European indices, with a 12-month PER (Price Earning Ratio) of 14x, compared to 16.2x for the Eurostoxx. The high weight of the financial and electricity sectors also means that the Spanish selective index has a particularly attractive 12-month expected dividend yield of over 5%, against the Eurostoxx’s 3.9%. Until the end of 2023, the selective Ibex index had…

Melenchon

In Europe 8th July 2024

Le Pen drops to third place and allows for a coalition of the left and Macron

In the second round of the French legislative elections, the leading force was the left-wing New Popular Front coalition, which won 182 seats in the National Assembly. This advance prevents a majority for the far-right National Rally – Marine Le Pen’s party – which won 143 seats and would thus be in third place, despite having won the first round. It also opens the door to a possible coalition between…

reino unido starmer

European economy 8th July 2024

Labour’s victory in UK could further support pound and British stock market with more constructive stance towards EU

Renta 4 | In the UK, Thursday’s elections were, in line with expectations, a historic victory for Starmer-led Labour (expected to achieve its largest majority since 1997). The Conservative leader, Sunak has already conceded defeat. Labour’s victory could continue to support the pound and the British stock market in the face of a more constructive stance on the EU and promised fiscal stability. To this could be added the Bank…