The trade deficit reached €12,760.9 million in the first four months of the year, an increase of 16.7% compared to the same period last year, despite the fact that exports in this period recorded the second best figure in the historical series, with €127,420 million, although they fell by 3.5% in the last year, as reported on Monday by the Ministry of Economy, Trade and Enterprise. Imports totalled €140,181 million…
Norbolsa | The Dutch bank celebrates this Monday’s CMD at 14:00, and announces that it expects total revenue growth of between 4-5% per annum between 2024 and 2027, with fee income expected to exceed €5 billion, leaving RoTE at around 14% over the same period.
BancaMarch : G7 members have reached a (tentative) agreement that would allow the use of proceeds from frozen Russian assets to provide a $50 billion loan to Ukraine. Russia’s frozen assets worldwide amount to $300 billion, however, this amount cannot be used, but the interest – some $3 billion – generated annually can be used. Thus, future profits are established as collateral for the $50 billion loan. The deal would…
Intermoney | Ferrovial (Hold, PO 32) announced last Friday, before the market close, that the Group, together with other Heathrow shareholders (accompanying shareholders), has reached an agreement to sell part of its stakes to the PIF and Ardian funds. Specifically, these two entities will acquire 37% of the London airport in exchange for £3,259 million, or some €3,880 million. Ferrovial will thus sell almost 20% of Heathrow’s capital for around…
The Bank of Spain (BdE) reported on Friday that the debt of all public administrations in Spain rose in 1Q2024 to 109% of the country’s Gross Domestic Product (GDP), 1.3 percentage points above the close of 2023, while the amount of Spanish public debt set a new record at €1.613 trillion, with record indebtedness of the State and the autonomous regions. The Bank of Spain, which thus confirmed the 1Q2024…
Link Securities | In relation to the application for authorisation of the voluntary takeover bid launched by Bondalti (the Bidder) for all the shares of Ercros (ECR), filed and published on 5 March 2024, which was admitted for processing by the National Securities Market Commission (CNMV) on 20 March 2024, Ercros hereby states that the Council of Ministers resolved, at its meeting of 11 June 2024, following a favourable report…
Intermoney | Aena released the traffic data for May on Wednesday, with the market open. Both the cumulative and the rolling month figures were up +11% year-on-year to almost 115m passengers so far in 2024, implying a +14% growth compared to pre-pandemic levels. All the relevant airports reported increases, although the difference between, on the one hand, Madrid Barajas and Barcelona El Prat, with increases in May of 7-9%, and,…
Bankinter: The Fed meets expectations and keeps interest rates (Fed Funds) at 5.25%/5.50%. With respect to the macro picture, it maintains the GDP forecasts for 2024, 2025 and 2026. However, it revises upwards both Inflation (PCE) and Underlying Inflation in 2025 and 2026 and continues to miss the 2% target until 2026. The Unemployment Rate is also revised slightly upwards in 2025, 2026 and in the longer term. With regard…
Link Securities | The REIT approved yesterday at the General Shareholders’ Meeting the entry of CriteriaCaixa in its capital through a capital increase of €622 million, Expansión reports. Pere Viñolas, CEO of Colonial, told shareholders that the company’s indebtedness will be consolidated at the levels achieved with this capital injection (leverage of 36.3% vs. 39.9% previously), while he expects earnings per share and the dividend to grow. With this capital…
Norbolsa | The European Commission (EC) is finalising new tariffs on Chinese EV imports, following a lengthy investigation into state subsidies. Taxes on these vehicles could rise from the current 10% to around 25%, according to EU sources, but the figures are still being fine-tuned and countries such as Germany are pushing to lower them because of their dependence on China. Berlin has accepted higher tariffs, but is trying to…