Link Securities | Eurozone exports of goods to the rest of the world fell by 2.7% year-on-year-year in July to €227.8 billion, Eurostat reported on Friday. Imports from the rest of the world to the eurozone fell by 18.2% to €221.3 billion. As a result, the eurozone recorded a trade surplus in goods in July of €6.5 billion, compared with a deficit of €36.3 billion in July 2022. For its…
White House National Security Advisor Jake Sullivan and Chinese Foreign Minister Wang Yi met this weekend in Malta. The aim is to pave the way for a meeting between Presidents Joe Biden and Xi Jinping expected to take place in November. The two governors may have the opportunity to meet at the Asia-Pacific Economic Cooperation Forum in San Francisco. The Chinese minister said the two sides had agreed to hold…
On 14 September, Spanish gas reserves reached 100% of their capacity, 24 percentage points above the level recorded on the same day last year. This level has allowed the quotation in MIBGAS to remain at an average daily price of €34.80/MWh in the first fortnight. Imports from Algeria remain very solid, at almost 70 mcm/d. In August, 25 LNG tankers unloaded, the same as last year, and in this first…
The INE (National Statistics Institute) has revised the fall in Spanish GDP in 2020 and has lowered it by one tenth of a point, while it has revised upwards -again- GDP growth in 2021 compared to 2020, which now rises by almost one point, from 5.5% to 6.4%, compared to what was published in September last year. The National Statistics Institute (INE) has also revised GDP growth in 2021 upwards,…
Bankinter: Ebglyss (lebrikizumab) receives positive opinion from the European Medical Agency’s advisory committee. The Target Price is raised from €9.50/share to €10/share . The positive opinion of the committee has to be reviewed by the European Commission, which issues the marketing authorisation. This step could take 2-3 months and, if ratified, the commercial launch of Ebglyss will be almost immediate. The drug is a treatment for moderate to severe atopic…
Link Securities| Avangrid, Iberdrola’s US subsidiary, expects to obtain almost $1.36 billion in additional revenues from the increase in its electricity and gas rates in New York, according to elEconomista.es today. The company’s new tariff plan, which covers the period 2023-2026, includes double-digit increases and is expected to come into effect next month. The extra revenue, regulated by the state of New York, will be spread over three fiscal years:…
BancaMarch : China is showing signs of stabilising. The battery of indicators published on Friday morning has been favourable, with a rebound in consumption and also in industrial production. In contrast, the real estate market continues to deteriorate. Starting with consumption, retail sales rebounded more than expected in August, growing at +4.6% year-on-year, above the previous 2.5% and exceeding the +3% forecast. Thus, for the first eight months of the…
Spain received €5.521 billion in 2022, compared to €7.512 billion for France.It was the second beneficiary of the EAGF (European Agricultural Guarantee Fund) agricultural budget in 2022 with €5.521 billion, an amount slightly higher than the previous year (€5.498 billion). France was ahead, as usual, with €7,512 billion, according to data published by the European Commission and reported by Cesar Lumbreras in the newspaper La Razón. If total EU spending…
The former deputy prime minister and historic leader of the PSOE Alfonso Guerra has criticised the “evident tendency to Caesarism” in the PSOE as it is the secretary general who chooses the people who make up the party leadership or those who make up the lists for the congresses. This he has indicated in an interview published this Sunday by ‘The Objective’, collected by Europa Press, in which he has…
Intermoney : Sacyr (SCYR) (Buy, PO 4.0 €), as reported on Thursday by the Group with the market open, together with its Italian partner Fininc, has been awarded the construction of a railway line in Catania (Sicily). The project, by Metropolitana Circumetnea, envisages the design and execution of a 10.6 km route between the Misterbianco station and the Ardizzone tunnel, with an investment of around €532 million. In total, the…