According to information gathered from nearly 1,000 SMEs throughout the country by the General Council of Economists (CGE) and the Faedpyme Foundation, with the collaboration of the Spanish Chamber of Commerce, only 15.4% of Spanish SMEs believe that they will create jobs this year, while 74.9% believe that they will maintain them and 9.6% that they will reduce them.
Sean Markowitcz (Schroders) | Since the 1970s, there have been approximately 11 rising yield cycles. Yet, contrary to popular belief, these periods were overwhelmingly positive for the stock market. For example, US equities delivered a positive total return in nine of these episodes, with an annualised average performance of 13.4%.
The test, which starts today Monday and will last four weeks, will be conducted along with mobile operators and equipment manufacturers in the municipalities of Alcázar de San Juan and La Solana, in the province of Ciudad Real. This trial is intended to assess whether the use of the 700 MHz band for the deployment of 5G may have any influence on DTT broadcasts using the 470 MHz to 694 MHz band, according to the Ministry led by Nadia Calviño. The tests are being carried out prior to the allocation of these frequencies, which will be done via auction next July. The government has already announced it will extend the term of the new frequency licences for 5G from 20 to 40 years, which will allow operators more leeway to amortise the investments made in the deployment of networks.
The construction of these facilities is part of an overall plan under which Equinix and GIC will increase their portfolio of xScale data centres with up to 32 new facilities for USD 6.9 billion (EUR 5.783 billion), according to a joint statement. The centres will be divided between Frankfurt (5), Paris (4), Dublin, Osaka, Sao Paulo and Tokyo (3 in each); Madrid and London (2); and Milan, Helsinki, Warsaw and Mexico City, with one data centre in each. Three more data centres will be added to this list and will be announced shortly.
Simon Chadwick and Paul Widdop via The Conversation | While fans will have their eyes firmly fixed on the efforts of players worth billions of pounds on the field, another big money game will be taking place off it. The Euros is one of the world’s biggest sport events, and a bonanza for corporate sponsors and partners. The underdogs in this big-money corporate competition appear to be the Europeans themselves. For an event being staged in countries including England, Italy, Spain and Romania, UEFA draws very few of its sponsors from the continent. Instead, it is clear that organisations from China and the US have both the financial muscle and the tactical brains to successfully dominate the tournament.
Up to half of European adults have now had at least one shot of the available Covid-19 vaccines, infection rates have fallen dramatically, and lockdowns are gradually easing across the continent. Vaccination success will allow Europe’s economic recovery to catch up with the US and China, says Robeco’s strategist Peter van der Welle.
Nippon Steel has announced the sale of a 7.9% stake in Acerinox, the Spanish stainless steel manufacturer, for 218 million euros. The transaction was completed in a private placement by UBS amongst big investors in a few hours at 10.2 euros per share. The price was 5% below the close on Thursday June 17.The Japanese steelmaker was until now Acerinox’s second largest shareholder with 15.8%, behind the 19.35% held by Corporación Financiera Alba, the March family’s investment vehicle. The third investor is Daniel Bravo with 4.5%.
Acciona has already announced the price range, which will oscillate between 26.73 and 29.76 euros per share, for the flotation of 15-25% of its subsidiary, Acciona Energía. This represents a valuation of between 8.8 and 9.8 billion euros (above the stock market value of the parent company, which at close yesterday was 7.5 billion euros). Translated to enterprise value (equity plus debt), the price represents a valuation of 11.9-12.9 billion euros. The stock market debut is expected to take place between June 28 and July 1.
Portocolom | Reducing plastic waste by 70% by 2030 is the aim of the draft Waste Law and to achieve this it includes two taxes on plastic and the obligation to offer tap water in hotels and restaurants, among other measures. The Council of Ministers has given the green light to the draft Law on Waste and Contaminated Soil, and it is pending in the Parliament. The current pandemic has accentuated this contamination by plastics: masks, gloves, food packaging, etc., worsening the situation that we already had. 75% of this plastic will find its way into landfills and the sea. A serious cost to the environment and the economy.
The MásMóvil takeover bid, at 11.17 euros per share (with a 27% premium over the last six months of trading) was announced on March 28. It involves the payment of almost 2 billion euros, as it is a full cash transaction. The success of the takeover bid – conditional on 75% of capital – seems guaranteed, as 52% of Euskaltel’s capital has already expressed its intention of accepting the offer.