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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.
ursula von der leyen energia

European politics, In Europe 20th July 2025

EU proposes strengthening bloc’s independence with €2-trillion budget for 2028-2034

Norbolsa | The European Commission announced on Thursday a budget proposal of €2 trillion for the period 2028-2034, which seeks to strengthen economic competitiveness, double investment in innovation and increase defence spending fivefold. Von der Leyen defines it as a budget to finance the new era, in line with European ambition, which faces challenges and strengthens the bloc’s independence. Most of the funds come from member state contributions, but the…

Barcelona housing

In Spain 20th July 2025

Mortgages on homes in Spain shoot up 54.4% in May, marking 11 consecutive months of increases, total amount rises 12.7%

CdM | Another surprise in the mortgage market. The National Statistics Institute (INE) published its mortgage statistics for May on Friday, showing that mortgages on homes rose by 54.4% compared to the same month in 2024, with a total of 42,274 loans signed. The increase in May is much higher than that recorded in April (up 14.4%), and with it, the signing of mortgages on homes has now risen for…

Iberdrola edificio

Companies, Relevant News Item 18th July 2025

Iberdrola completes acquisition of Electra del Maestrazgo’s energy distribution, marketing and generation business

Link Securities | Iberdrola (IBE) announced on Thursday that it has completed the acquisition of the energy distribution, marketing and generation business of Electra del Maestrazgo, a family-owned utility based in Castellón, according to the Bolsamania website. The statement also highlights that it expects a ‘positive impact on its accounts’ from this acquisition and anticipates that this will be reflected in its results. Iberdrola explained that the National Commission for…

fcc edificio

Companies, In Spain, Relevant News Item 18th July 2025

FCC-Ferrovial consortium wins first section of Burgos-Vitoria high-speed rail line for €323 million

Alphavalue/ Divacons | The two construction companies, through a consortium formed in equal parts by both groups, will build the first section of high-speed rail between Burgos and Vitoria. The award of this section of the Basque AVE, valued at €323 million, comes after the disqualification of other competitors such as ACS, Acciona, Sacyr, OHLA and Grupo San José. The starting price for the tender proposed by Adif, the public…

EEUU energy

In the World 18th July 2025

US industrial production rises 0.3% month-on-month in June, compared to 0.0% previously, capacity utilisation also up

Bankinter | Industrial production and capacity utilisation exceeded expectations in June. Industrial production rose by 0.3% month-on-month in June, compared to expectations of 0.1% and the previous figure of 0.0%. Capacity utilisation stood at 77.6%, compared to expectations of 77.4% and the previous figure of 77.5%. By segment, all areas improved and posted growth in June. Analysis team’s view: Industrial activity has been positive for three consecutive months, taking advantage…

GRIFOLS NoticiaAmpliada

Companies, Relevant News Item 18th July 2025

Grifols to build new €160-million fractionation plant in Spain to double European production capacity

Renta 4 | Grifols has resumed a project it has been working on since 2020 to build a new fractionation plant that will enable it to double its production capacity in Europe. The new factory will be located in Llica del Vall in the province of Barcelona, on land adjacent to its Parets del Valles complex, on an 80,000-square metre site that the company acquired for this purpose in 2018….

bbva sabadell

Companies, In Europe 18th July 2025

EC opens infringement proceedings against Spain over conditions imposed by government on BBVA Sabadell takeover bid

Alphavalue/DIVACONS | The European Commission announced on Thursday that it was opening infringement proceedings against Spain over the conditions imposed by the government on BBVA’s takeover bid for Banco Sabadell (SAB). Brussels specifically objects to the discretionary powers granted to the government by Spanish law to block such transactions. The EU executive considers that the scope of these powers exceeds the scope of the general interest. BBVA: Buy, Target Price…

exports

In Europe 18th July 2025

Eurozone exports to US fall slightly to €42.2 billion but €17.2 billion surplus recorded

Intermoney | Eurozone exports to the US fell for the second consecutive month in May, following a boom in March when a record figure of €66.2 billion was recorded. but remained above the previous year’s levels (up 5.6% year-on-year), a sign of resilience that will be tested in the coming months as tariffs become a consolidated reality in transatlantic trade. Exports to the US from the area fell slightly to…

Francia Bayrou

In Europe 17th July 2025

France proposes €43.8 billion adjustment to 2026 budget to reduce deficit to -3% by 2029

Bankinter | Prime Minister Bayrou proposes a €43.8 billion adjustment to the 2026 budget. The aim is to reduce the deficit, which stands at -5.8% in 2024 (as opposed to -3.1% in the EMU, -2.8% in Germany, -3.4% in Italy and -3.2% in Spain) to -4.6% in 2026, with a commitment to reach -3% in 2029. The government’s projections point to a figure of -5.4% in 2025. The measures presented…

Tecnic

Companies 17th July 2025

Preview Técnicas Reunidas 2Q25: progressive improvement in margins, on track to meet 2025 guidance

Renta 4 | Técnicas Reunidas (TRE) will publish its 2Q25 results on 31 July before the market opens (results conference call – 11:00 CET), in which we expect to see a continued gradual improvement in margins, paving the way to meet the 2025 guidance of an EBIT margin of around 4.5%. Additionally, we do not rule out that following the company’s announcement that some customers had requested an acceleration in…