The 2014 -15 oil price crash led to sharp pullbacks in upstream capex, leading to the “conventional wisdom” (as held by the IEA, EIA, and OPEC Secretariat) that a supply gap will open up by the end of the decade due to limited greenfield projects and accelerating decline rates… but Citi’s analysts disagree with this consensus.
Sopra Steria and Indra Sistemas are small market caps (respectively €2.2bn and €1.7bn) compared to their peers Atos and Capgemini with market caps of €10.0bn and more. Both stocks trade at reasonable 2017 P/Es (respectively 13.4x and 13.6x) and analysts see significant upsides for both stocks. Indra is clearly more of a high risk- high return proposition while Sopra may have to cope with Brexit-induced uncertainties
The Bank of Spain warns that the Spanish economy is progressing against a backdrop of “high uncertainty” at the start of 2017, along the lines of what happened during most of last year, associated to a large extent with geopolitical events.
Mari Pinardo | As advisor to the Democratic Party for years, Juan Verde is still perplexed by Donald Trump’s victory. Fearful of what the new administration means for the US economy, he doubts that Trump has the capacity to develop the promised infrastructures plan.
The advances in inflation figures throughout the Eurozone will be a subject of debate in the coming weeks, not least because of its bigger-than-expected rise. An increase which has a common thread in the form of hikes in energy prices and, to a lesser extent, in food prices.
Cellnex signs up for two new projects in France worth €854 mn, in line with its strategy for boosting its international expansion. It will now become the second biggest independent towers operator in France.
José Luis M. Campuzano (Spanish Banking Association) | Without doubt, banks can benefit in the medium and long-term from those companies which the term “fintech” encompasses. And competition in the short-term, particularly in the segments of payments and loans, is a small price to pay considering the synergies and the revitalising effect for the banks of being digitally closer to the client.
BBVA said on Wednesday that net attributable profit rose 31.5% to 3.475 billion euros in 2016 from a year earlier, the highest figure since 2010.
Issuing decrees is the new tweeting. So far Trump’s pattern has been clear: focus on easy targets first using a very simple rule of thumb: use the trade balance to tell apart US friends from US foes. Hence despite the outcry, the economy and markets are gaining traction.
Spanish business woman Alicia Koplowitz has made an initial investment of 2 million euros in wind turbine manufacturer Gamesa via her sicav. The move comes at a time when Gamesa and Germany’s Siemens are involved in merging their wind energy business.