Singular Bank | According to the BEA, in the final reading, GDP fell by 0.13% in quarterly terms in 1Q25 (against an increase of 0.61% in 1Q24). At the same time, in year-on-year terms, production growth stood at 1.99% (versus 2.53% in the last quarter of 2024) and in annualised terms contracted by 0.5% (against plus 2.4% in the previous quarter).
Link Securities | The Spanish oil company informed the National Securities Market Commission (CNMV) that it has reached an agreement to sell its 24% stake in the Corridor block in Indonesia, where it is not the operator, to Medco Energi for $425 million. This transaction is part of Repsol’s asset rotation strategy to optimise its upstream portfolio and focus its efforts on assets that offer high profitability and cash generation….
“We don’t have the last word because we are right. We are right because we have the last word,” a U.S. Supreme Court justice ironically explained. With that same implicit reasoning, six judges of the Spanish Constitutional Court (TC), directly appointed by the government, have declared—against the staunch opposition of the four magistrates appointed by the opposition—that the amnesty negotiated by Pedro Sánchez with the “procés” fugitives from Catalonia to…
Link Securities | The Spanish construction company, through its subsidiary Turner, will be responsible for building and supervising the One Beverly Hills real estate project, covering seven hectares in the heart of luxury in Los Angeles County (California, USA), the Expansión portal reported yesterday. Turner is listed as the main contractor for the first phase of a project that began last year and is scheduled for completion in 2027. Designed…
Link Securities | In his speech before the House Financial Services Committee (the lower house of the US Congress), Federal Reserve (Fed) Chair Jerome Powell affirmed the central bank’s commitment to keeping inflation under control, stating that he expects monetary authorities to remain on hold until they have a better understanding of the impact that tariffs will have on prices. Powell described economic growth as solid and the labour market…
Renta 4 | The FDA has given the green light to expand the use of Moderna’s vaccine for the treatment of RSV, the virus that causes bronchiolitis, in adults aged 18 to 59. This vaccine has already been approved by both the EMA and the FDA for use in adults over 60, as well as in the United Kingdom, Australia and Taiwan. Given Rovi’s agreement with the US pharmaceutical company,…
The allies have finally had the pleasure of getting to know Pedro Sánchez Pérez Castejón, the new world leader of anti-Trumpism. A man capable of signing one thing, saying another, and ending up doing a third… Always, of course, what he believes suits him best. And all of this, according to him, without lying. They’re just “changes of opinion.” So, before arriving at the Hague summit, Sánchez boasted of having…
Link Securities | Spain’s trade deficit fell by 16.6% year-on-year in April to €3.8824 billion, driven by the decline in the energy deficit, according to figures published yesterday by the Ministry of Economy, Trade and Business. Spanish exports in April reached €32.51 billion, the second highest figure for the month of April. This represents a 2.2% year-on-year growth in exports in April, after adjusting for the calendar effect (which was…
Link Securities | The National Statistics Institute (INE) reported on Friday that the number of mortgages taken out on homes rose to 39,176 in April, representing a 14.4% increase year-on-year. The average amount of these transactions was €155,883, an increase of 12.4%. For mortgages taken out on residential properties, the average interest rate in April was 2.98% and the average term was 25 years. 32.9% of mortgages on residential properties…
Singular Bank | According to the preliminary reading for June, the US manufacturing PMI remained stable at 52.0 points, above analysts’ consensus estimates (51.1 points). In contrast, the services sector PMI declined slightly to 53.1 points (against 53.7 points in May). Despite this, the result was better than the consensus of analysts (52.9 points). Given this development, the US composite PMI fell slightly to 52.8 points (against 53.0 points in…