The Spanish Public Treasury has captured 6 Bn € with a new syndicated 10 year bond, with a demand five times greater, after raising great interest among national and international investors. Spain’s risk premium remains stable around 80 base points.
BoAML | A combination of weaker growth and low inflation is driving an ongoing monetary easing. So far this year, nine out of the 35 central banks we actively cover have cut rates and only three have raised rates. Over the rest of the year, we expect cuts by 14 central banks,
The Corner | For the second time this month, oil prices dropped below 60 $ per barrel. Growth concerns and a bearish market mood drove the latest sell-off, but fundamentals are now adding to the price pressure. US oil inventories swelled unexpectedly and led to a drop in oil prices.
CaixaBank Research | The car sector’s contribution to the economy goes beyond its own production volume. In fact, it generates a significant spillover effect. Estimates say that 1 € rise in the production of cars generates a rise in the total production of the European economy of 2.4 €.
Morgan Stanley | We lower profit estimates for Spanish banks at an average 4.6-5% for 2020-2021 given the sensitivity of these to a further flattening of the rate curve as a result of a more dovish ECB.
Santander AM | Stock markets maintain strong profits this year. The strength of the profit taking as a result of the new tariff increases to China should not hide their good behavior along the year.
Telefonica’s dividend payment of 0.40 eur per share in cash will be divided into two payments of 0.20 euros / share.
Renta 4 | Mediaset Spa and Mediaset España have announced their merger through a share exchange under the name of MediaForEurope (MFE), which will be the new parent company, with the intention of creating a pan European platform, which will trade in the Italian and Spanish stock markets, able to unite a combined audience of 107 million viewers.
The ratings agency Fitch Ratings has upgraded its short term rating for Enagás (ENG) and Enagás Financiaciones S.A.U from “F2” to “F1”’, applying its new short methodology for short term ratings.
Yiannis Mouzakis via Macropolis | As Greece heads into snap national polls on July 7, it is beyond doubt that there has been a substantial shift in Greek voters’ views and preferences, which translated into a strong rejection of Syriza across society.