Articles by The Corner

About the Author

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.
InmoColonial

Colonial AGM: rising financing costs will impact EPS, but guidance remains unchanged

Intermoney Analysis Colonial SFL held its CMD in Madrid on Thursday, which did not yield any major news. The REIT confirmed its strategic focus based on the following pillars: 1) operational leverage of office assets in the CBD, a product that will remain the priority, without ruling out entering the German market; 2) strengthening Plan X, focused on the transformation of assets, whether through development from scratch or a change…


Acciona hidraulica

Acciona completes divestment of long-standing hydroelectric business with sale of its 18 small hydroelectric power stations

Reported by the Editorial Team Acciona Energía has agreed to sell its remaining hydroelectric assets, a 64 MW portfolio comprising 18 small hydroelectric plants in Navarre and La Rioja, to White Summit Capital for €66 million, debt-free. The transaction, which is expected to close in the coming weeks, is forecast to generate capital gains of approximately €55 million. Hydroelectric generation has been part of Acciona’s business since it entered the…


spain public finances

State-owned enterprises push headcount to more than twenty-year high: 198,500 workers

The increase in public employment, at rates that—proportionately—surpass those of the private sector, is a trend that has been repeated quarter after quarter since the end of the pandemic. Less well-known, however, is the intensity with which this boom is manifesting in the government subsector corresponding to state-owned enterprises and related institutions. This category, as explained by the newspaper El Economista, already brings together 198,500 workers. Nearly 200,000 wage earners….


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Técnicas Reunidas could join Ibex 35, replacing Acciona Energía

Report by Bankinter Next Thursday, 11 June, the Technical Advisory Committee (CAT) will hold a meeting to review the composition of the Ibex 35. On this occasion, there could well be changes. Técnicas Reunidas could join the index, replacing Acciona Energía. What do we think will happen at the CAT meeting? On this occasion, there could be changes. Técnicas Reunidas is the best-placed candidate to join the index. Its trading…


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Geopolitical instability and technological transformation boosting tangible assets

The shifting global geopolitical and economic landscape, coupled with doubts about the sustainability of public finances, is making real assets—which governments cannot simply print—increasingly attractive. By Géraldine Sundstrom Investors must be realistic. We live in a world marked by uncertainty, multipolar rivalries, geopolitical instability, and technological transformations and advances. Disruptions to supply chains are mounting, with trade frictions in an economy fragmenting into rival blocs. This is a global transformation…


eeuu madeinCM

US jobs report to dominate the day: unemployment rate of 4.3% expected

Report by Renta 4 European markets opened flat, but US futures were down (S&P 0.5%, Nasdaq 1%) and declines in Asia, with Japan’s Nikkei down 1% and South Korea’s Kospi down 5% (although it had fallen as much as 7% during the session, weighed down by Samsung and SK Hynix, which account for 54% of the index) amid profit-taking in the AI ‘trade’. Added to this is the news that…


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Rising energy prices (13.2%) push OECD inflation to 4.4% in April

Reported by the Editorial Team Year-on-year inflation in the OECD rose to 4.4% in April, up from 4% in March, driven by rising energy prices. Energy inflation continued to soar in April, reaching 13.2%, an increase of 5.1 percentage points compared with March. Food inflation in the OECD also rose, by 0.4 percentage points to 4%, whilst core inflation (excluding food and energy) remained virtually stable at 3.6%. Headline inflation…


Spanish stocks

Ibex 35 closes up 0.6%

Reported by Jaime Sicilia Martínez The main European indices rose following the conditional ceasefire agreement between Israel and Lebanon, which the market sees as a first step towards peace between the United States and Iran. The IBEX 35 closed up 0.6% and the Euro Stoxx 50 rose by 0.8%. Broadcom, the world’s sixth-largest company by market capitalisation, issued worse-than-expected forecasts for its AI chip revenue, and Crowdstrike Holdings also fel…


1 eurobonds

Low growth, high returns: why Europe is penalising the stock market and rewarding bonds

By Felipe Villaroel What a fixed-income manager is looking for is an environment of low but positive growth, contained inflation, banks that do not take on too much risk, and under-represented technology and higher-risk sectors. The reason is simple: they receive the same coupon and recover the same principal regardless of how much a company grows. They do not share in the extraordinary gains that might result from taking on…


Gibraltar

Treasury updates tax havens list, from Anguilla to Vanuatu

The Spanish Treasury has submitted to public consultation—until last Monday, June 1—the Draft Order that will modify the list of “countries, territories, and harmful tax regimes deemed non-cooperative jurisdictions.” Among the updates, the most notable is the proposed removal of Gibraltar, Dominica, Barbados, Seychelles, and Trinidad and Tobago as non-cooperative jurisdictions, meaning they would no longer appear on the Spanish blacklist. Conversely, the Draft Order plans to incorporate the tax…