Norbolsa | The bank has approved the distribution of a dividend of 16 cents/share, +33% vs 2022. The news came a day after Santander’s dividend announcement (+39% vs 2022), although in this case the dividend will be 100% in cash. Thus, the bank’s payout remains in the 40-50% range of its strategy and in line with the objective of remunerating shareholders, supported by the bank’s good results. Shareholders will receive…
Santiago Martinez (Ibercaja) | The number of mortgages granted in Spain fell by -18.8% year-on-year in July, the average amount by -2.1% (to €143,412) and the total amount granted by -20.9%. These data are in line with what we have been seeing throughout the year, an expected correction from levels that were considered unsustainable after the emergence of pent-up demand during the pandemic, as well as changes in buyer preferences…
Banca March: The most recent US economic data are disappointing. Consumer confidence fell more than expected in September, falling to 103 from 108.7 (which was revised upwards). Moreover, this development was due to an improvement in the current situation reading, but the expectations component deteriorated sharply to 73.7 from 83.3 previously. On the other hand, in the real estate sector, sales are falling, but prices are holding up. In August,…
The increase in electricity and fuel prices has raised the general inflation rate in September to 3.5%, which is nine tenths of a percentage point higher than in the same month last year and its highest level since April.For its part, the underlying rate moderated by three tenths, to 5.8%, the lowest value since June 2022, according to the leading indicator of the National Statistics Institute (INE). As the INE…
The General Court of the European Union has ruled that the tax incentives approved by the government of José María Aznar in 2001 for companies to deduct indirect purchases of shares abroad are legal. This incentive was approved with the aim of allowing national companies to grow abroad. The Executive then allowed companies, including large firms such as Banco Santander, Axa and Prosegur, to deduct the goodwill generated by the…
Link Securities| The government is considering imposing conditions on the entry of the Saudi group STC in Telefónica (TEF), according to information from Bloomberg and as reported on Tuesday by the Expansión newspaper. These would include limiting the sale of assets or limiting the payment of dividends. The possibility of applying some of the restrictions that were applied when the IFM fund became a shareholder of Naturgy (NTGY) is also…
Banca March : Global trade falls to its lowest level since the pandemic. CPB World Trade Monitor data yesterday revealed the largest year-on-year decline (-3.2%) in global net exports in the post-pandemic period. In terms of monthly rates, the decline was 0.6%. The main reasons associated with these levels are last year’s interest rate hikes in several economies, as well as the sharp deterioration in China’s trade (imports: -5.2%, exports:…
Spending on pensions reached €12,051 million in September, 10.9% more, setting a new record. This is because, in application of the pension reform, pensions have risen by 8.5% by 2023 as a result of average inflation for the period December 2021-November 2022. Following the rise in pensions in line with the CPI applied since the beginning of the year, the average retirement pension increased in September by 9.5% year-on-year to…
Banco Santander will pay a cash dividend on account of 2023 earnings of 8.10 euro cents per share, an increase of 39% compared to the same dividend last year, it was announced late on Tuesday. It will also launch a share buyback programme for an approximate amount of €1,310 million, subject to regulatory approval. Since 2021, Santander has repurchased more than 7% of its shares in circulation through share buybacks….
Banco Sabadell: According to press reports, Vueling, which represents ~7.5% of IAG’s employee cost, has reached a wage agreement with its cabin and office crew, who in turn make up 69% of the company’s total employees, establishing a +4.5% increase for 2022 and an annual non-consolidated payment of 0.8%. In addition, for 2023, an increase of +3%, which could rise to +4% under certain unpublished conditions, and an annual non-consolidated…