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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.
amper. def

Spanish economy 16th December 2024

Amper acquires 100% of Navacel, specialists in offshore wind energy steel structures, for €23.8 million

Renta 4 | The company has acquired 100% of the share capital of Navacel Process Industries, a company specialising in the design, manufacture and assembly of metal structures for offshore wind energy in Biscay. The purchase price is €23.8 million and Amper will pay €12 million in cash and the remaining €11.8 million through the issue of new Amper shares to be subscribed by Navacel companies. The new Amper shares…

indra edificio 2

In Europe 16th December 2024

Eurocontrol successfully implements first digital air traffic management platform using Indra technology

Alphavalue/DIVACONS | Eurocontrol successfully implemented, in collaboration with ATOS and Microsoft, the first digital platform for air traffic management in the public cloud. This platform uses digital technology developed by Indra (IDR) and is part of the Integrated Nerwork Management (iNM) programme, driving the digitisation of the systems that manage the European aviation network. Indra: Add, Target Price €20.5/share.

oil plataform

In the World 16th December 2024

Market continues to see some oil oversupply in 2025, pointing to Brent at around $73/b in January 2025 and towards $70/b by year-end

Renta 4 | The International Energy Agency’s (IEA) December oil report was published last Thursday, revising downwards its demand growth estimate for this year (+840k boe/d against 920k boe/d previously) and increasing it for 2025 (+1.1 million boe/d against +0.99 million boe/d previously) to 103.9 mln boe/d. It also published its estimate for total oil supply growth of +630k boe/d this year and +1.9 mln boe/d in 2025, to 104.8…

ferrovial carretera

In Spain 16th December 2024

Ferrovial increases buyback programme to €600 million and extends duration until 30 May 2025

Link Securities | Ferrovial (FER) has announced to the National Securities Market Commission (CNMV) that, in accordance with the authorisation granted by the General Meeting of the company held on 11 April 2024 under agenda item 8, it has agreed (i) to extend the duration of the current Share Buyback Programme until 30 May 2025 (inclusive), and (ii) to increase the maximum amount of investment under the Programme by €300,000,000,…

aena

In Spain 15th December 2024

Aena: number of passengers at Spanish airports grows 9.2% year-on-year to 21.6 million in November

Bankinter: Aena’s airports registered 21.6 million passengers in November, which is up 9.2% compared to November 2023. It accumulates an increase of 9.4% so far this year (vs. 9.4% previously). Analysis team’s opinion: Good news for Aena. Airport traffic continues to break historical records month after month and will most likely end the year slightly above our estimates (306M passengers; up 8% on 2023 figures). However, the good prospects are…

espana cibeles

In Spain 15th December 2024

Spain: November final CPI confirms preliminary 2.4% year-on-year (vs. 1.8% previously), core at 2.4% (from 2.5% previously)

Bankinter: November final CPI confirms 2.4% year-on-year preliminary (from 1.8% year-on-year previous), Underlying also confirmed 2.4% year-on-year preliminary (from 2.5% previous). On a month-on-month basis +0.2% month-on-month for the headline rate and +0.1% for the Underlying. Analysis team’s view: The data confirm the preliminary data and also the pick-up in headline inflation in 4Q24, as expected and anticipated by the ECB, largely due to base effects from energy (electricity and…

corporacion financiera alba

In Spain 13th December 2024

March family launches takeover bid to delist Corporación Financiera Alba

Thr March family has agreed to delist the Spanish holding through a takeover bid at a price of €84.20 per share in cash, which represents a premium of 79.5% compared to the closing price of €46.90 per share. This offer exceeds the historical maximum reached in 2007 (€60.70 per share). The takeover bid will be presented by the company along with Carlos March Delgado, its president and largest shareholder with…

Acciona

In the World 13th December 2024

Acciona awarded construction and operation of desalination plant in US with investment budget close on €140 million

Intermoney | Acciona (ANA) (Buy, Target Price €180) and local company J.R. Filanc have won the design, construction, operation and maintenance of a new desalination plant that will supply drinking water to residences and businesses in South Orange County (California, United States), according to Expansión newspaper. The investment budget is around $140 million (around €132 million). The Doheny ocean desalination plant, to be located in the town of Dana Point,…

Solaris CAF

In Europe 13th December 2024

CAF subsidiary Solaris wins two contracts to supply 91 electric buses in Sweden and Belgium for €80 million

Link Securities | Solaris, a division of CAF, has been awarded two contracts for 91 electric buses in Sweden and Belgium for a combined value of more than €80 million, thus continuing to expand its market in Europe, according to elEconomista.es. Specifically, Solaris has signed a contract with Keolis Sverige, one of Sweden’s largest transport operators, for the supply of 46 electric buses. The order includes 19 Urbino 12 electric…

grifols investigacion

In Spain 13th December 2024

Grifols to issue €1.3 billion in bonds to refinance debt maturities in 2025

Bankinter: The company is to issue soon €1.3 billion in Guaranteed Bonds maturing in May 2023 with a coupon of 7.125%. Together with part of the cash (September: €644 million), it will be used to redeem close on €340 million of Senior Secured Bonds maturing in February 2025 with a coupon of 1.625% and to pay off the working capital loan facility maturing in November 2025. It also extends by…