The ECB: “A careful normalisation which should start gradually”
Intermoney | There is little in the way of significant economic data due out in Europe today, so the main focus will be on the minutes of the ECB’s last meeting.
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Spain households adjusted their debt during the crisis, bucking the global trend
The International Monetary Fund (IMF) issues a warning: household debt in advanced economies has risen on average from 52% to 63% of GDP in 2008-2016. In the developing world, household debt levels were lower, rising from 15% to 21% over the same period. But Spain’s case is different.
Spanish Small & Midcaps: Gestamp
Renta 4 | Gestamp is a direct supplier for the main global light vehicle manufacturers. It makes the key components of any car: bodywork, chassis and mechanisms. It’s one of the few suppliers with global capacity and has a market share of around 15%.
Spanish services sector pushed by new business in September
Spain’s services sector, about 50% of the country’s GDP, was boosted in September thanks to new business at the fastest rate in more than two years, according to Markit’s Purchasing Managers’ Index (PMI).
Global economy gains further momentum with September leading indicators
The latest set of September PMIs published yesterday showed that global economic growth momentum will remain very strong until year end, with the US, Europe and Japan set for even higher growth in Q4 2017 and only a minor cooling of economic growth in China. This bodes well for a continuation of US rate normalisation in December 2017.
Regulated assets will weigh on electricity sector results in 2017
Mirabaud |The electricity sector’s results, which have traditionally given some stability to the corporate earnings season, will be weak in 2017. This year we are seeing generalised declines amongst the utilities, especially in the deregulated businesses due to the low levels of hydroelectric power. But the commercialisation business is also being negatively affected by the fact the prices fixed for this year are below the pool prices.
Spain jobless figures to September are, on first sight, mediocre: but the best in net SS affiliates since 2005
Bankinter |The variation in the number of jobless in September (according to the Social Security register) was apparently slightly higher (worse) than forecast: +27.900 vs +21.500 expected vs +22.801 in September 2016. (That said it was slightly better than the 26.087 registered in September 2015).
The synchronisation and strength of global growth is a reality
Intermoney | This week we will see the publication of the first chapters of the IMF’s six-monthly report on Global Economic Perspectives, which should be more favourable than on previous occasions. The synchronisation and the strength of global growth is a reality and the data over the coming months won’t call this into question.
European Fears of “Jamaica” Coalition Are Overblown
A three-party “Jamaica” coalition in Germany may not be so bad for Europe as observers fear. The real benefit for Europe would be German domestic policy. After four years of stasis under the grand coalition, the “Jamaica” parties could transform the German economy
What Can Be Offered To Catalonia
The Corner | The fiscal situation is one of the arguments the pro-independents in Catalonia have been using. And in this regard, we wanted to share with our readers a snippet from a televised debate between Josep Borrell, a former president of the European Parliament, who describes himself as “Catalan, Spanish and European,” and Oriol Junqueras, leader of the pro-independence Catalan Republican Left (ERC) party.