Yesterday afternoon the UK changed its criteria and opened its hand by moving the Balearics, Malta and Madeira from the amber to the green list. This means that any British tourist will be able to travel to these three destinations from 30 June without quarantine on their return. They will not have to bring a PCR on entry to Spain, provided they have not travelled to another country in the…
Portocolom AV | China currently dominates the solar industry, with Chinese companies controlling around 80% of the global solar supply chain, from raw material refining to panel production and assembly. In 2020, 45% of the global supply of poly silicon, the key refined material that comprises 95% of solar panels, came from China’s Xinjiang Uyghur Autonomous Region. The governments of the US, UK, Canada and the Netherlands have declared that China has committed genocide and crimes against humanity in its treatment of Uighurs and other Muslim-majority peoples in Xinjiang.
Telefónica España and trade unions, UGT and CCOO, signed an agreement on Tuesday to extend their Collective Bargaining Agreement, which was due to end this year, until 31 December 2022. The extension includes a 1% wage increase and a bonus of 300 euros to be received in October 2022. The agreement will also serve to consolidate Telefónica España’s new ways of working, with two voluntary teleworking days a week for…
Intermoney | Investment in real estate assets in Spain amounted to around €2.5 billion. This is an increase of 52% compared to the figure for the first quarter of this year, according to provisional data estimated by the consultancy firm CBRE. For the half year as a whole, the total is €4.167bn, a drop of 19% from last year, when one of the best Q1s in history was recorded, just…
Half a decade after the UK voted to leave the EU, Schroders experts Sue Noffke, Rory Bateman and Azad Zangana examine the investment case for the UK stock market.
Abengoa has informed the Comisión Nacional del Mercado de Valores (CNMV) that Ernst & Young has requested the 3rd section of the Commercial Court of Seville to suspend the powers of the board of directors. E&Y, at the request of the judge, is in charge of the bankruptcy administration of the company (with more than 5 billion in debt). In addition, E&Y – the insolvency administration – has requested that…
José Ramón Díez (CaixaBank Research) | While expected, the rise in inflation is causing discomfort due to the high levels that have been reached and the risk of it persisting at those levels for longer than desirable without investors being startled. The key is whether we are faced with an economy that is simply skidding around as it seeks to accelerate from 0 to 60 in a short time, in which case inertia will allow it to easily regain stability; or, on the contrary, overheating caused by an excessively expansive demand-focused policy could test the strength of the economic engine.
Nick Ottens (Atlantic Sentinel) | The unexpectedly strong performance of the center-right in France’s regional elections calls Emmanuel Macron’s reelection strategy into question. The liberal incumbent has been leaning to the right expecting he would need their support to defeat the far right’s Marine Le Pen in a presidential runoff. But if the center-right Republicans regroup, Macron risks not even qualifying for the runoff. Relations with the center-right Polls still…
Mathieu Racheter, Strategy Research, Julius Baer | Global healthcare remains our most preferred defensive sector due to attractive valuations in combination with solid growth perspectives. We see a number of structural tailwinds including demographics, big data, and increased demand in emerging markets, all of which should continue to drive above-average sales and earnings growth going forward. Healthcare remains our most preferred defensive sector due to attractive growth perspectives and undemanding…
Repsol inaugurated its first photovoltaic complex in Manzanares (Ciudad Real) yesterday, called Kappa. The facility has involved an investment of 100 million euros and has total installed capacity of 126.6 megawatts (MW) distributed over three plants: the already operationalPerseo Fotón I and Perseo Fotón II, totalling 90.5 MW; and Perseo Fotón III, currently under construction, which will add the remaining 36.1 MW. It consists of 285,331 solar modules and will…