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.
Repsolito 1

Companies, Relevant News Item 14th November 2025

Repsol reportedly negotiating merger with Apache to list upstream business in US

Renta 4 | According to press reports, Repsol is negotiating a merger with Apache Corporation, a US oil company listed on the Nasdaq with a market capitalisation of $8.76 billion. According to the information, these negotiations would be part of the ‘liquidity event’ agreed with EIG after its entry into Repsol’s capital by 2026. We recall that this event could consist of an initial public offering, a reverse merger with…

ACS nuevo

Companies 14th November 2025

ACS’s ordinary net profit in 9M25 accelerates growth by 19.6% to €585 million

Renta 4 | Sales figures, which exceeded our forecast, show significant growth in all areas, led by Turner and Infrastructure. EBITDA, also better than our expectations, shows higher growth than sales, thereby significantly improving margins. This improvement is reflected in ordinary net profit which, excluding the currency effect, accelerates growth to 23.8%. This strong improvement has led the company to raise its guidance for the end of the year, expecting…

MerlinProperties1

Companies 14th November 2025

Merlin Properties’ revenue rises 8% to €413 million in September due to higher growth in offices and data centres

Intermoney | The REIT (Buy, PO €15) has just announced its results for September. The main figures from the results, together with our estimates, are shown in the attached table. Revenue/income for 9M25 rose 8% to €413 million, broadly in line with Intermoney’s estimate (€414 million), while EBITDA (€300 million, up 8%) was slightly below our figures (10%), following higher-than-expected overheads, particularly in personnel and the LP incentive plan. By…

inflation board

In Spain 14th November 2025

Inflation Continues to Rise: 3.1% in October

The CPI (Consumer Price Index) continues its upward trend, closing October one tenth of a percentage point higher than at the end of September, with an increase of 3.1%. The INE (National Institute of Statistics) explained that the rise in the CPI in October is due to electricity prices increasing more than in the same month of 2024. In addition to electricity, the prices that are pushing inflation up the…

Talgo new

Companies, Relevant News Item 13th November 2025

Talgo to hold EGM on 12 December to finalise Basque consortium’s entry and propose capital increase of €3.18 million

Link Securities | The company has called an extraordinary general meeting of shareholders for 12 December 2025, on first call, or 13 December, on second call, with the aim of approving the agreements that will allow the completion of the entry into its capital of the consortium led by José Antonio Jainaga, president of Sidenor, and also participated in by the Basque Government and the BBK and Vital banking foundations….

utilities

In Spain 13th November 2025

Spain: Electricity Rises 24% in October Compared to September

Spanish electricity demand fell by 0.5% in October, while generation grew by 2.1%, driven by increased exports to Portugal. The daily price in the wholesale market (POOL) averaged €75.73/MWh in October. This marks an increase of 24.07% over the previous month (€61.04/MWh) and 10.5% compared to the price a year ago (€68.54/MWh). Electricity prices interrupted their downward trend in October, mainly due to scheduled outages for refueling at several nuclear…

Telefonica Murtra 1

Companies 13th November 2025

Despite no official confirmation, Telefónica unions suggest company has redundancy plan

Alphavalue / Divacons | Telefónica unions expect management to propose a redundancy plan for the company. However, at the moment, this measure has not been officially announced; the only thing that has been confirmed is that next Monday the operator’s new strategic plan will be presented to them. Union sources informed EFE that the company’s management sent a very brief invitation to a meeting on Monday morning. The aim is…

Amper nueva

Companies 13th November 2025

Amper strengthens portfolio in oil & gas and offshore wind energy sector, subsidiary Navacel awarded five new contracts worth €25.7 million

Renta 4 | Navacel, Amper’s subsidiary dedicated to manufacturing equipment for the offshore market, has announced the award of five contracts in the oil & gas and offshore wind energy sectors for a total amount of €25.7 million. The contracts are: 1) two orders valued at €16 million for the supply and manufacture of a mooring and fluid transfer system for BPSO (Floating Production, Storage and Offloading) vessels with a…

banco sabadell

Companies 13th November 2025

Sabadell misses Q3 2025 forecasts: net profit amounts to €414 million, 6% below consensus, and reiterates 2025-27 guidance

Renta 4 | Q3 2025 results were below our estimates and consensus estimates in the main lines of the income statement, with net profit 3% below Renta 4 estimates and 6% below consensus. Highlights of the results include: 1) Net interest margin remained stable quarter-on-quarter at constant rates and fell 1% ex-TSB, with volume growth partially offsetting the deterioration in customer margin (-6 bp i.t.). 2) The cost of risk…

alemania ampelmann

In Europe 13th November 2025

Final CPI in Germany confirms preliminary annual figure of 2.3% compared to 2.4% previously

Bankinter | A slight moderation in German inflation in October is confirmed. The final CPI confirms the preliminary figure of 2.3% (year-on-year) against 2.4% previously. Wholesale Price Index 1.1% in October (year-on-year) against 1.2% previously. Analysis team’s view: Inflation moderates slightly, moving towards the ECB’s target (2%). We do not expect any changes in ECB rate expectations, so it should have a neutral impact on stocks and bonds.