Inditex: less promotional than 2018
BOfAML | We see a lower percentage of SKUs on discount in November compared to November 2018, which reflects a less aggressive discounting strategy by Zara in 2019, in our view.
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Banco Sabadell: from Over to Equal-Weight, and P. O. from 1.20 to 1.10 eur/share
Morgan Stanley | Bank analysts raised the sector to Attractive a few weeks ago because our macro no longer expects depo-type cuts and this increases confidence that profit estimates have hit a minimum in 2H19. We estimate a flat growth of the NII (+ 0.6%) in 2020 and 2021. There is optionality in the charge for deposits (could add 3% to the NII of the Eurozone banks).
Spanish households’ indebtment falls to minimum of 2018
The bank debt of families and non-profit institutions resident in Spain fell 0.25% in October compared to the previous month, with a reduction of 1.728 billion euros, to 702.036 billion euros, which records its level lowest since February 2018.
Rating news sources can help limit the spread of misinformation
VV. AA. (The Conversation) | Online misinformation has significant real-life consequences, such as measles outbreaks and encouraging racist mass murderers. Online misinformation can have political consequences as well. The problem of disinformation and propaganda misleading social media users was serious in 2016, continued unabated in 2018 and is expected to be even more severe in the coming 2020 election cycle in the U.S.
Unicredit, Santander and Lloyds Are Morgan Stanley’s Top Picks To Invest In The European Banking Sector
In their “European Banks: At a turning point?”, Morgan Stanley analysts explain that interest rates are still low but seem to have reached their bottom and that they don’t expect any further cuts to depo rates.
Over 90% Of Foreign Companies In Spain Expect To Increase Or Maintain Their Investment In 2020
Foreign companies’ assessment of the business climate in Spain has remained unchanged since last year. Specifically, the business climate in Spain scored an average of three out of five, according to the “Barometer of the Business Climate in Spain from the Foreign Investor’s Perspective”, prepared jointly by ICEX-Invest in Spain, Foreign Multinationals for the Spain brand and the IESE.
Two Things To Watch Out For At COP25 (And Why Climate Stocks Could Benefit)
The 25th United Nations Conference on Climate Change 2019 COP25 begins today in Madrid. We expect from COP25 two more encouraging developments: Firstly, a key issue left unadressed in the preceding Conference of Parties – COP24 in Katowice, Poland: the use of financial markets as mechanisms for fighting climate change. Secondly, a range of updates to countries’ individual targets, known as nationally determined contributions (NDCs).
How Libra Can Reduce The Regulatory Burden By Delegating The Issuance Of StableCoins To Qualified Partners
Yoni Assia, Johannes Rude Jensen and Omri Ross (E-Toro) | With direct access to 2.7 billion users, many of whom do not have access to conventional financial services, the Libra project presents a unique opportunity for innovation in the financial services. Nevertheless, we believe the launch strategy pursued by the Libra Foundation neglects a vital implication of the technology: Decentralization.
Is It The Fed That Has Changed… Or The World Around It?
CaixaBank Research | The Fed has cut interest rates in 2019 for the first time in 11 years. However, it has barely lowered its growth outlook for the US and has justified the cut with the weakness of inflation and the persistence of risks. Is it possible that the Fed has changed its reaction function? The results of the analysis in this article suggest so.
Santander Designated Bank Of The Year In Spain, Western Europe And The Americas
Banco Santander has been named Bank of the Year in Western Europe, the Americas, Spain, Portugal, Argentina and Chile by The Banker magazine. The Banker recognized the bank’s “peerless commitment to an enhanced customer experience”, its pursuit of operational efficiency and its development of new digital, global trade and global merchant services.