Top Stories

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.
enagas logo

Relevant News Item 19th February 2025

Enagas NP reflects negative effects of Tallgrass sale and GSP arbitration but targets exceeded and share buyback announced

Renta 4 : Revenues slightly down, in line with our expectations. The higher contribution from Musel, REVU and COPEX did not offset the effects of lower regulated revenues. EBITDA slightly down despite the stability in operating expenses, due to lower results from investees because of the deconsolidation of Tallgrass, which is not offset by the higher contribution from Axpo and TAP, despite this, it exceeds our forecast and allows EBITDA…

Talgo

Relevant News Item 18th February 2025

Talgo majority shareholder Pegaso reaches agreement for sale of 29.7% of capital, with no takeover bid for 100%, at €4.15/share

Bankinter | Last Friday, Pegaso, majority shareholder of Talgo (TLGO), announced the agreement for the sale of 29.7% of Talgo’s capital to the Consortium formed by Clerbil (Sidenor), Finkatze Kapitala Funlatuz, Fundación bancaria BBK and Fundación Bancaria Vital. The price will be €4.15 fixed and up to an additional €0.85 subject to the achievement of objectives. In statements this weekend by Imanol Pradales, President of the Basque Government, he said…

AccionaSede

European economy 18th February 2025

Acciona among companies in talks with Masdar to buy assets in Spain, Portugal and France

Norbolsa | Masdar is exploring several M&A operations to grow Saeta (acquired from Brookfield) and turn this group into its major expansion platform in Western Europe. Thus, they are in talks with EDP, Acciona and Totalenergies to buy various assets in Spain, Portugal and France, especially in wind power. Industry sources indicate that these transactions could add another 1,000 MW in operation, which at market price would be around €1billion….

exports gorgeous

In Spain 18th February 2025

Spanish Exports Stagnate

Luis Alcaide | In the past month of December, exports increased by 2.7% year-on-year, while for the entire year of 2024, they grew a modest 0.2%. Exports did not decline for the whole year, but their value in euros also did not advance; they practically remained stagnant. The total figures for 2024 amounted to €384.465 billion, lower than the €387.599 billion reached in 2022. This decrease in export volumes is…

japon gente calle

In the World 17th February 2025

Japan shows surprising 2.8% growth in 4Q24 vs. 1.7% previously

Bankinter | Japan’s GDP surprised positively in 4Q 2024. GDP was up 2.8% (quarter-on-quarter annualised) versus 1.1% estimated and 1.7% previous (revised from 1.2%). Quarter-on-quarter was up 0.7 against a 0.3% estimated and 0.4% previous (revised from 0.3%). Our team’s view: Good news. The Japanese economy is growing more than expected, which together with inflation clearly above the 2% target (up 3.6% in December), will allow the BoJ to continue…

BBVA guapa

Relevant News Item 17th February 2025

BBVA to continue operating with relatively tight solvency levels compared to most European counterparts

Santander Corporate & Investment | On Tuesday, Fitch revised its outlook for BBVA (BBVA) (A3 p, A e, A- p) to positive and confirmed all its ratings, including its senior preferred (SP) rating of A-. Fitch indicated that the positive outlook reflects its expectation that ‘BBVA’s solid franchise and business model will enable the group to generate stronger financial results thanks to improved operating conditions in some of BBVA’s key…

obras 11 1000x528 777x400 1

In Spain 17th February 2025

Per capita income in Spain grows 1.4% since 2019, real wages lose purchasing power

This is clearly explained, in just a few paragraphs, by Jaime Terceiro, an illustrious Spanish economist and member of the Royal Academy of Moral and Political Sciences, who in a speech at the end of last year stated: ‘It is repeated over and over that our economy is growing almost four times faster than the European average with an employment level that reaches its maximum values. This is true, but…

grifols edificio

Spanish economy 17th February 2025

Capital Group, main shareholder in Grifols, reduces stake from 3.406% to 2.902% in order to consider exit

Link Securities | Capital Group, historical shareholder of Grifols, faces its exit by placing its stake in the company’s capital below 3%, Expansión newspaper reported yesterday. On 7 February, as recorded in the records of the National Securities Market Commission (CNMV), Capital Group reduced its stake in GRF to 2.902%, from the 3.406% declared on 5 February. Of the 2.9% declared by the fund, 0.45% is also on loan to…

Madrid nuevo norte

Spanish economy 16th February 2025

BBVA hires Rothschild to sell part of Madrid Nuevo Norte

Link Securities | BBVA (BBVA) has put part of Madrid Nuevo Norte up for sale, according to Cinco Días. The bank, which controls almost 76% of the development company, has hired Rothschild for the operation and is looking for a partner to provide resources as the so-called Operation Chamartín has begun to get underway. The sources consulted by the newspaper indicate that it would be conventional for Rothschild to look…

talgo tren

In Spain 14th February 2025

Talgo’s rejection of Polish bid clears way for Sidenor, agreement expected today

Norbolsa | Government opposition to the Polish bid clears the way for an agreement with the Basque consortium. Yesterday Talgo shares plunged 9% to €3.28/share affected by this decision. So it looks like we will find out today if an agreement is finally reached with the consortium to acquire 29.8% of Talgo. On Wednesday we learnt that Pesa would be willing to launch a takeover bid for 100% of Talgo,…