Iberdrola and the Japanese car maker are preparing a joint project to develop the chargers for electric cars, thanks to the intelligent networks infrastructure of the Basque electrical company. The final objective is that Iberdrola’s networks should support the charging for Nissan’s electric cars, for whom the “Nissan Leaf Zero Emission” is its main bid for an electrically powered saloon.
The European Central Bank yesterday named three temporary administrators, as well a three member vigilance commission, to take control of Italy´s 10th bank and replace its leadership, following the resignation of the majority of its board members. Even tough Pietro Modiano, one of the three temporary administrators declared that there was no merger on the horizon for the bank, they will likely try to find another bank in which they can integrate it.
José Benito de Vega | Acerinox enjoyed a very positive stock market evolution up to 1 October compared to the Ibex 35 (+8.8% compared to -6.3% for the index ). Since then its shares have corrected strongly, losing 32%, leaving its relative performance for the year in negative (-28% compared to -12% for the Ibex). This sharp correction has been driven by doubts about the situation of the sector in Europe.
The fourth quarter of 2018 has been penalised by lower cellulose process. Analysts at Santander foresee a recovery in the first quarter of 2019. As the new Ibex35 member Ence is listed at an EV/Ebitda rating for 2019 of around 4.5X (compared to 6.5X in the middle of the cycle) remains a solid investment.
A more severe than expected economic downturn, the ongoing US-China trade war, eventually a hard Brexit, and unsolved challenges such as protectionism or the lack of confidence in the euro. Here are some trends that will impact markets in 2019.
Some challenges that markets will face in 2019 are not new in the picture: global debt, trade tensions between the US and China, and the sensitive situation in some European countries. We asked some of the best Spanish analysts about their forecast and this is what they said.
Santander | The growth in passenger numbers registered at Zurich in November (6.0 % vs. 6.0% est), Aena (6.9% vs 6.5% est) and ADP (5.4% vs 4.8% est) was more or less in line with our estimations, while the traffic in Fraport (4.7% vs 6.5% est) and Heathrow (3.3% vs 0.2%) remained below.
Alicia García-Herrero*| Without an expectation of a larger market for European exports in the absence of additional opening up by Chinese authorities, European exporters should not enjoy the ongoing China-US negotiations.
By Yang Ge via Caixin | Offshore listings by Chinese firms surged to record highs in 2018, fueled by strong demand from global investors chasing some of China’s hottest names, especially in the technology sector. That listing wave is expected to continue into 2019, but could quickly peter out if recent bearish sentiment becomes the norm, observers said.
DWS | How should a hedge fund have positioned itself if it had known the U.S. Federal Reserve’s (Fed’s) decisions and press release a day ahead of the market? Until lunchtime on Wednesday noon its staff might have reasonably concluded that the material contained preciously little actionable information. On paper, it would have all looked exactly as expected, leaving limited scope for any meaningful market reaction. This is not, of course, how things actually turned out.