Banca March | The governor of the Bank of France, François Villeroy, confirms that the plan to reduce the deficit to 5.4% this year is going in the right direction. Last week the new French prime minister set the deficit target for 2025 at 5.4%, compared to the 5% set by his predecessor. Villeroy had previously warned of the need to reduce the fiscal imbalance to below 5.5% and bring…
Intermoney | Acciona (Buy, PO €185) announced yesterday, while the market was open, that it had been awarded, through its Polish subsidiary to Mostostal Warszawa, the 7.94 km section between Niemcza and Ząbkowice Śląskie. This section forms part of the S8 motorway between Wrocław and Kłodzko, which runs for 87 km along the western fringe of the country. The contract is worth PLN305.7 million (€71.3 million). The Group has been…
Link Securities | The cross accusations between Ryanair and Aena (AENA) continue, after the Irish airline took the decision to eliminate routes in Spain due to ‘excessive fees and the lack of effectiveness of incentive plans’ by the airport manager, as reported on Tuesday by Bolsamanía.com. Now, the airline is going one step further and is asking Aena to sell its regional airports. ‘Minister Puente has two options: he can…
Link Securities | According to data published by Turespaña, in December 2024 the good trend of previous months continued, and passengers from international airports amounted to 7.2 million, 8.6% more than in December a year ago, Of the total of more than 100 million passengers, 86.1% came from Europe, followed by the Americas, with a share of 8.9%. Asia was the geographical area of origin with the highest year-on-year growth…
Link Securities | The Spanish company and EVO Auto, the car brand of the Italian group DR Automobiles, have signed a framework collaboration agreement in Spain to promote the use of liquefied petroleum gas (LPG), as reported by both companies through a joint statement, Expansión reported yesterday. Thanks to this alliance, Repsol and EVO Auto are committed to promote the use of LPG as an alternative and environmentally friendly fuel,…
Bankinter: Trump says he could impose a 10% tariff on China and warns Europe. The United States is considering a 10% tariff on China. He justifies it as retaliation for China’s exports of fentanyl. It marks 1 February as a key date. In this regard, on Monday Trump affirmed his intention to apply 25% tariffs to Canada and Mexico. Bankinter analysis team view: Trump sends a reminder that he will…
Jefferies | Reported 4Q net income in line with consensus, helped by a low effective tax rate in the quarter (with the print an 11% miss at PBT level). This PBT miss was primarily driven by €34m in other impairments, with pre-prov a 2% beat. Revenues were a 2% beat vs consensus, however this was driven by strong fees (5% beat), with NII dynamics a touch soft, down 3% quarter-on-quarter,…
Junts (Puigdemont’s party) rejected yesterday in Congress the ‘omnibus’ decree that included the revaluation of pensions, the extension of transport discounts, and aid for those affected by the DANA. However, the measure also contained other types of initiatives that it would have been incomprehensible for the political right to support, such as the suspension of evictions during 2025, which facilitates squatting. The rejection highlights the parliamentary weakness of the Executive…
Bankinter | In an interview at the Davos Forum, the company’s chairman Ignacio Galán said that “it is perfectly possible to grow and pay a higher dividend every year”. He considers the commitment to the dividend and the profitability of the 350,000 small investors who are Iberdrola shareholders to be a priority for the group. Galán anticipates that the demand for electricity will grow in the coming years as growth…
Link Securities | CAF is among the major international manufacturers invited by Northern Trains, the UK’s second largest rail operator, to participate in the supply and maintenance of more than 450 new public service train units, the largest order in the UK’s history, valued at around €9 billion, Expansión reports today. The British company wants to make the purchases in different phases, although a third of the fleet must be…