According to Bankinter’s analysts, there will be a moderate increase in housing prices (around 3-5 % between 2016 and 2017), and it will only happen in certain places. So Spain’s property prices will not return to the pre-crisis record highs, but will reach levels similar to that in 2004.
The figures in Spain are stubborn and worrying. Public debt will exceed 100% of GDP in 2016 and the deficit is not keeping pace with commited goals. So Spain’s public finances are a potential source of future instability, which the country cannot permit given that its external debt is close to 170% of GDP.
Maxime Larivé | European governments have let a member state of the European Union (EU) cherry-pick the terms of its place in the union, potentially setting an irreversible situation. But should the United Kingdom remain an EU member under its new agreement? This question should be asked to all EU citizens.
UBS | Global trade in goods and services has risen to a record share of the world economy in real terms. In nominal terms it has stagnated – which basically tells us that the price of traded goods and services is falling relative to the price of non-traded goods and services. Hardly surprising given where oil is.
BARCLAYS | Having largely pre-released numbers with its trading statement the focus from Repsol’s 4Q results is on whether or not the group will be able to retain its Investment Grade credit rating, given the prevailing environment.
Avangrid, the company born of the merger between Iberdrola and UIL assets, is going to launch a $ 9.600 billion investment plan until 2020.
C.Peel, T.Docal and C.Sweeting via Caixin | Collapsing oil prices have clearly caused financial disruptions. There will likely be bankruptcies and credit-crisis events among over-leveraged and high-cost producers.
UBS | Between 2010 and 2014 global investors showed tremendous generosity towards EM, helping it issue forever larger amounts, and easily roll over debt coming due. In 2015 sentiment began to sour, and the primary market is even less benign today.
BARCLAYS | Spanish airport operator AENA, the world’s largest by number of passengers, has reported a strong end to 2015 driven by a combination of strong passenger growth, tight control of opex and lower-than-expected financing charges. Aena’s IPO in 2015 was Spain’s biggest since the financial crisis.
Sovereign wealth funds could sell nearly $404 billion of stocks in the course of this year if crude prices remain low, according to predictions by the Institute of Sovereign Wealth Funds. This would mean doubling the divestments made in 2015, which totalled $213.4 billion.