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.
santander ana botin

Banco Santander Investor Day: focus to be on improving profitability with post-AT-1 RoTE target >20%

Renta 4 | After solid results in 2025 and the achievement of its main objectives, attention now turns to the upcoming Investor Day in London on 25 February, where the bank will present its new 2026-28 Strategic Plan. We believe that the new Strategic Plan will be continuous with the previous one, focusing on improving profitability as announced in the results presentation, with a post-AT1 RoTE target for 2028 >20%…


China España Madrid

Chinese New Year 2026: Spain surpasses other European destinations in attracting Chinese travellers with high purchasing power

Alphavalue/ Divacons | Observations during Chinese New Year 2026 suggest that Spain, especially Madrid, has surpassed other European destinations such as France in attracting Chinese travellers with high purchasing power. The strong presence of the ‘Chinese New Year’ brand in key areas such as Gran Vía and the official events at Barajas Airport reflect a deliberate strategy to position Spain as China’s main gateway to Europe, supported by a sharp…


Telefónica chapa sede 1

Telefónica and Vodafone get green light for AXA to acquire stake in their company Fiberpass

Link Securities | Telefónica (TEF) and Vodafone Spain, a company wholly owned by British financial group Zegona (ZEG-GB), have obtained the green light from the European Commission (EC) for the French financial group AXA (CS-FR) to acquire a stake in Fiberpass, the wholesale fibre optic company (fiberco) created from the networks and broadband customers of the two operators, according to Expansión newspaper. In fact, the European Commission stated in a…


puig preciosa

Puig Brands reports solid results for 2025 (€587 million net profit) but somewhat vague forecasts for 2026

Jefferies | A solid fourth quarter for Puig Brands (PUIG). The unclear outlook could influence the extent to which investors regain interest in the shares, but we believe that they continue to outperform their competitors at present. All three segments met the 6-8% forecast for fiscal year 2025, initially set in February 2025. Fragrances grew 1.3 times faster than the luxury category in fiscal year 2025, with 6.4% LFL in…


Acciona Energía nueva

Acciona Energía completes repowering of Tahivilla wind farm (84.4 MW) and finalises commissioning

Link Securities | Acciona Energía (ANE) has completed the repowering of its Tahivilla wind farm (84.4 MW) in Tarifa (Cádiz) and is finalising its commissioning, according to a report by Bolsamanía on Tuesday. The repowering project consisted of replacing 98 old wind turbines with 13 state-of-the-art units, increasing annual energy production by 72% thanks to greater installed power. The repowering project consisted of replacing 98 old wind turbines with 13…


Aena nuevita

Aena approves DORA III: 3.8% tariff increase between 2027 and 2031, €9.991 billion in investments

Bankinter | Aena (AENA) proposes a 3.8% annual tariff increase between 2027 and 2031. We raise our recommendation to Buy from Sell. Aena’s board of directors has approved its DORA III proposal, i.e. the regulatory framework for the next five years. This assumes investments of €9.991 billion, passenger numbers growing at a rate of approximately 1.5% per year and airport fees increasing by 3.8% per year. Bankinter analysis team’s view:…


3. Public debt

Spanish public debt grows by 4.8% in 2025, accounting for 100% of GDP

According to data released by the Bank of Spain (BdE), Spain’s public debt increased by 4.8% in 2025 compared to 2024 (an increase of €78.108 billion), reaching €1,698,681 million. This represents a new record high for a year-end closing, although the figure remained below the monthly record of €1,709,330 million registered last September. Consequently, the total debt for all Public Administrations closed 2025 at 100.8% of GDP, which is 0.9…


Grifols

Moody’s raises Grifols’ corporate family rating from “B2” to “B1” and changes outlook from “positive” to “stable”

Link Securities | On Monday, credit rating agency Moody’s Ratings upgradedGrifols’ corporate family rating (CFR) from ‘B2’ to “B1”, reflecting the company’s continued operating performance and the ‘strength’ of its business fundamentals, Bolsamania.com reported yesterday. On the other hand, the agency has changed the outlook from ‘positive’ to ‘stable’. The rating agency explained that this change in rating reflects Grifols’ ‘solid operating performance, with strong revenue growth and profitability, which…


Greening

EiDF request Greening and BME extend deadline for responding to takeover bid, which ended on Monday

Link Securities | EiDF has requested that Greening (GGR) and Bolsas y Mercados (BME) extend the deadline for responding to the takeover bid, which ended yesterday, Monday, according to Expansión newspaper. It claims that many shareholders have not been notified of the new change and whether their previous acceptance would extend to the new exchange or not. The deadline to participate in Greening’s bid for EiDF ended yesterday, Monday 16…


prosegur camion

Prosegur reduces capital by redeeming 11.6 million treasury shares at €0.02 each

Link Securities | Prosegur Cash (CASH) reported that, on 10 February 2026, the deed relating to the capital reduction through the redemption of 11,678,000 treasury shares of the company, each with a nominal value of €0.02, was registered in the Madrid Mercantile Registry, thereby reducing the share capital by €233,560, from €29,698,269.74 to €29,464,709.74. The resulting share capital is represented by 1,473,235,487 ordinary shares of a single class and series,…