Renta 4 : Stock markets open lower again (Eurostoxx -0.3%, S&P flat), after negative closes in the US and Asia. As for central banks, Norway’s central bank unanimously raised rates by +25 bps, in line with expectations, to 4%, and anticipated more hikes in September, arguing that inflation is still not under control. A monetary policy direction that contrasts with that of other countries where they have already started to…
Link Securities | The construction companies Sacyr (SCYR) and Acciona (ANA), together with the train manufacturer Construcciones y Auxiliar de Ferrocarriles (CAF), are competing against the large network of Chinese state-owned corporations to build and operate the new Line 2 of the Bogotá Metro in Colombia, the largest project in Latin America, with an estimated investment budget of €6.5 billion, according to Expansión. The city council of the Colombian capital…
Alphavalue/DIVACONS | The company is to receive in several instalments the nearly €98 million contract it announced last week with the British investment firm M&G Real Estate to sell it two blocks of new rental housing in Bilbao, under a “turnkey development” scheme. According to the company’s statement to the Spanish Securities and Exchange Commission (CNMV) on Wednesday, the initial payment, which will amount to 30% ( €29.3 million), will…
Renta 4| New day with European futures lower at the open (Eurostoxx 50 -0.6%, S&P flat) after a negative close in the US at the lows and with the US IRR 10 hitting the highest since October at 4.26%, and rising today +4 bps to 4.31%, which is an increase of c.+15 bps since Friday. Noteworthy is the publication of the minutes of the Fed’s July meeting where there is…
Link Securities| Naturgy (NTGY), through Gas Natural Comercializadora, has been awarded the contract to supply natural gas to the penitentiary establishments of the General Secretariat of Penitentiary Institutions, attached to the Ministry of the Interior. According to the contract formalisation announcement, published in the Official State Gazette (BOE), the amount of the award is €17.5 million, as reported on Wednesday by Europa Press. The tender for the contract, which was…
Norbolsa| The European natural gas futures market rallied for the second time in less than a week, with the market becoming increasingly stressed by the possibility of strikes in Australia at companies that operate almost 10% of global LNG. Although Europe is not a regular buyer of LNG, the shock comes from competition with Asia for supplies and with the winter season approaching.
Bankinter: July CPI slows down sharply, although core is still holding at 6.9% – CPI (July): +6.8% year-on-year vs. +6.7% expected +7.9% previously. Over the month: -0.4% month-on-month vs. -0.5% expected and +0.1% previous. Underlying: +6.9% year-on-year vs. +6.8% expected and +6.9% previously. Assessment: Inflation slowed significantly in July, in the first month with month-on-month falls in price levels since January. Of note are the falls in Housing (-4.1% month-on-month)…
CdM| After a first quarter in which the economy showed no progress, the Gross Domestic Product (GDP) of the eurozone recorded growth of 0.3% in the second quarter, according to the preliminary estimate published by Eurostat, the EU’s statistics office. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.6% in the euro zone. For its part, in the European Union (EU) as a whole,…
Alphavalue/DIVACONS| The Spanish utility company has launched Carbon2Nature (C2N) with the aim of developing high-impact nature-based solutions projects that reduce the global carbon footprint, improve biodiversity and promote a sustainable economy, the energy company said. Iberdrola said the company was born out of the conviction that investing in nature is “essential to act against the climate and diversity crisis, while at the same time acting as a formula for creating…
Renta 4| Traffic figures for July exceed the figures recorded in 2019, after a month of June which for the first time in 2023 were below pre-pandemic levels, although these levels are below our forecasts, thus complicating the possibility of reaching the forecasts of 3% above 2019 for the year as a whole. Specifically, 29.76 million passengers were reached, equivalent to 101.2% compared to the same month in 2019, thanks…