BBVA Q2’16 results beat estimates
Norbolsa | After a disappointing first quarter performance, BBVA’s second quarter 2016 results beat estimates, showing a good performance across the board.
Articles by The Corner
About the Author
The Corner
The Corner
BoE cuts rates for the first time in 7 years
The Bank of England announced it will cut rates for the first time in 7 years, to lowest level ever (0.25%), and expands QE by £60bn (including corp) in an attempt to stimulate the economy.
Santander H1’16 results hit by UK uncertainty; Brazil positive surprise
Norbolsa | Santander’s first half 2016 results were overall positive, underpinned by a reduction in the cost of risk across most of the bank’s divisions and a good performance on the costs and commissions side.
Spain banks H1 results reflect positive change in lending trend
Norbolsa | The change in trend in lending has been the most positive element in the Spanish banks’ first half 2016 results.
Japan’s additional budget disappoints
Julius Baer | For the market, the additional budget package is insufficient to stimulate the economy but seemingly too much to leave yields where they are.
ACS H1 results overall in line; disparities in regional sales performance
Citi | ACS’ first half 2016 results were broadly in line with consensus estimates, although net income came in slightly lower at €388 million euros vs consensus of €411 million (-5%).
Tecnicas Reunidas Q2 top line results beat consensus; show robust pipeline
Citi | Tecnicas Reunidas (TRE) reported second quarter 2016 EBIT of €50 million vs consensus of €41 million (+20%), driven by higher revenues. Citi analysts flag that the operating margin of 4% was in-line with the company’s guidance, with the execution progressing as planned on all key projects.
Spain July unemployed falls to lowest level since August 2009
It’s good news for Spain’s economic recovery. The number of unemployed people registered with Spain’s public employment services dropped by 83,993, or 2.2%, in July from June to 3.683.061 million, the lowest level since August 2009. It was also the biggest fall in the month of July since 1997.
Spanish PMI: New orders fall for first time since late 2013
The Spanish manufacturing sector moved closer to stagnation in July as new orders and purchasing activity decreased and output growth slowed (51.0 in July, down from 52.2 in June, according to Markit –Levels above 50 indicate expansion).
Brexit Brings Revolution to Britain
Christina Dykes | On July 2, The Economist had a surprisingly alarmist cover-page heading. “Anarchy in the UK” it read, a claim it justified in an editorial that said the United Kingdom “has seldom looked so wildly off the rails.” Having backed the Remain campaign, the magazine is either a bad loser or it has been blinded by its own narrative. It is not the country that is off the rails—it is the political class. And that has become evident.