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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.
Two things to watch out for at COP25 (and why climate stocks could benefit)

World economy 2nd December 2019

Two Things To Watch Out For At COP25 (And Why Climate Stocks Could Benefit)

The 25th United Nations Conference on Climate Change 2019 COP25 begins today in Madrid. We expect from COP25 two more encouraging developments: Firstly, a key issue left unadressed in the preceding Conference of Parties – COP24 in Katowice, Poland: the use of financial markets as mechanisms for fighting climate change. Secondly, a range of updates to countries’ individual targets, known as nationally determined contributions (NDCs).

How Libra can reduce the regulatory burden by delegating the issuance of stablecoins to qualified partners

World economy 1st December 2019

How Libra Can Reduce The Regulatory Burden By Delegating The Issuance Of StableCoins To Qualified Partners

Yoni Assia, Johannes Rude Jensen and Omri Ross (E-Toro) |  With direct access to 2.7 billion users, many of whom do not have access to conventional financial services, the Libra project presents a unique opportunity for innovation in the financial services. Nevertheless, we believe the launch strategy pursued by the Libra Foundation neglects a vital implication of the technology: Decentralization.

Is it the Fed that has changed... or the world around it?

World economy 30th November 2019

Is It The Fed That Has Changed… Or The World Around It?

CaixaBank Research | The Fed has cut interest rates in 2019 for the first time in 11 years. However, it has barely lowered its growth outlook for the US and has justified the cut with the weakness of inflation and the persistence of risks. Is it possible that the Fed has changed its reaction function? The results of the analysis in this article suggest so.

Banco Santander designated Bank of the Year in Spain, Western Europe and the Americas

Ibex, Markets 29th November 2019

Santander Designated Bank Of The Year In Spain, Western Europe And The Americas

Banco Santander has been named Bank of the Year in Western Europe, the Americas, Spain, Portugal, Argentina and Chile by The Banker magazine. The Banker recognized the bank’s “peerless commitment to an enhanced customer experience”, its pursuit of operational efficiency and its development of new digital, global trade and global merchant services.

Iberdrola

Ibex, Markets 29th November 2019

Iberdrola Merges Offshore Wind Farms In the UK Into A Mega Project Of €7,600 M

Iberdrola will promote via its subsidiary Scottish Power Renewables a marine wind mega-project, called East Anglia Hub, which will add an installed capacity of 3,100 MW and involve an approximate investment of 6,500 million pounds (more than 7,600 million euros). The three projects will be procured together to leverage their scale with a continuous installation programme.

 

investors equities

Markets 29th November 2019

57% of firms in the Eurostoxx 600 had a positive earnings surprise

Unigestion | With the third quarter earnings reporting season behind us and investors looking at what’s ahead for equities, it is helpful to distinguish between short-term and longer-term factors. Over the short term, the context for stocks looks supportive, if perhaps less so than it did a couple of months back. However, pressures are building that may become significant headwinds for some firms.

 

inflows copia 1

Markets 28th November 2019

European equity funds see first inflows in 85 weeks

Morgan Stanley | First sign of inflows in Europe: Europe has suffered the greatest outflow of flows during the last two years. According to EPFR estimates, there has been a 100bn outfow of dollars in shares and 50bn dollars in fixed income.

pallete telefonica

Companies 28th November 2019

Telefonica will focus on its 4 key markets

Spanish group Telefónica (TEF) announced an action plan focused on five points: (i) focus investments and growth in Spain, Brazil, the United Kingdom and Germany; (ii) creation of Telefónica Tech; (iii) creation of Telefónica Infra; (iv) operational spin-off of Latin America (Latam ex Brasil) and (v) redefinition of the corporate center. This leads to a reorganization of the current Executive Committee.

ECB details 1

In Europe, Markets 28th November 2019

European Banks Strategy: The monetary policy cacophony

BOfAML | It is difficult for forward guidance to be credible when the institution is discussing whether any of its tools or targets are likely to be around in a few months. Embarking on a wide ranging discussion about monetary policy targets, communication and tools, with 25 relevant ECB board members, guarantees a cacophony. Volatility lies ahead for sure, we think.

grifols

Ibex 27th November 2019

Grifols: 35% revaluation in 2019 Vs IBEX35 9%

José Benito de Vega | Grifols has had a very positive stock market performance in 2019, with a 35% revaluation compared to 9% of the IBEX35. The positive evolution of its results, its powerful cash flow generation and debt reduction, together with its potential growth thanks to a treatment for Alzheimer’s that is under study, explain the good behavior of the stock.