Relevant News Item

Companies, Relevant News Item 23rd May 2023

Merlin sells two shopping centres to Hungarian fund Indotek for undisclosed sum

CdM| The Hungarian real estate fund Indotek Group has acquired two shopping centres, one located in Valencia and the other in Barcelona, from Merlin Properties Socimi, without disclosing the amount of the transaction. In a statement, the fund has detailed that, with this transaction, it seeks to consolidate its presence in the country and substantially increase the surface area of its commercial assets in the Iberian Peninsula, where it already…

Tecnicas Reunidas announce new tenders at the end of 2018

Relevant News Item 22nd May 2023

Técnicas Reunidas to develop world’s first zero-emission nitrogen fertiliser plant in USA with American company Atlas Agro

Técnicas Reunidas has signed a contract with green fertiliser company Atlas Agro to develop a zero-carbon fertiliser plant, Pacific Green Fertilizer (PGF), in the northwest of the US, near Richland, a city in Benton County (Washington), as reported yesterday by CapitalBolsa.com. Técnicas Reunidas and Atlas Agro have already worked together in the previous phase, the Feasibility Phase of the PGF Plant. The current contract includes the execution of the FEED,…

Companies, Relevant News Item 22nd May 2023

Aena registers 77.4 M passengers between January and April, 1.9% more than in same period of 2019

Link Securities| Aena’s network airports closed 4M2023 with a total of 77.4 million passengers, 32.7% more than in the same period last year and 1.9% more than in 4M2019. A total of 695,549 aircraft movements were recorded between January and April (1.5% more than in 2019) and 336,909 tonnes of cargo were transported, which is 0.1% more than in the same period of 2019. In the month of April 2023,…

Companies, In Europe, Relevant News Item, Spanish economy 18th May 2023

Talgo signs new €1.3bn contract to supply 56 trains to Deutsche Bahn

BSabadell : According to press reports, Deutsche Bahn has awarded Talgo (TLGO) a contract for the supply of 56 additional trains, which it is understood are of the Talgo 230 model and which would form part of the contract it is currently executing (23 trains worth €550 million). At the prices of the first order the contract could exceed €1.3 billion (~40% of Talgo’s current portfolio). Assessment: If the news…

Relevant News Item, Spanish economy 18th May 2023

Naturgy buys Ardian’s renewable assets in Spain for €536 million

Naturgy has won the bid for the renewable assets of the French fund Ardian in Spain. The company headed by Francisco Reynés has announced today the acquisition of 100% of ASR Wind, which has a total of 422 MW distributed in 12 wind farms in operation in Spain. The transaction also includes a pipeline of solar hybridisations of up to 435 MW, which are at an advanced stage of development…

Relevant News Item 17th May 2023

Eurozone GDP grows 0.1% in seasonally adjusted data in 1Q2023 compared to 4Q2022

Link Securities | According to the second estimate of the data, released yesterday by Eurostat, the Eurozone’s Gross Domestic Product (GDP) grew 0.1% in seasonally adjusted data in 1Q2023 compared to 4Q2022. In 42022 GDP had been stable in the Eurozone (0.0%). The reading was in line with the FactSet consensus of analysts. Compared to the same quarter of the previous year, seasonally adjusted GDP in the Eurozone increased by…

Relevant News Item 16th May 2023

NY Empire Industrial Confidence Index plunges unexpectedly to -31.8 points in May vs. 10.8 points in April

Link Securities | The Empire State Manufacturing Index of manufacturing activity in New York, compiled by the New York Federal Reserve, unexpectedly slipped to -31.8 points in May, down from 10.8 points in April, and versus the expected reading of -3.75 points by the analyst consensus. The reading is the lowest in four months, pointing to a sharp drop in manufacturing activity in New York. New orders (-28.0 points vs…

Relevant News Item 12th May 2023

Spanish Banking System: strong liquidity position

Caixabank | Spanish banks are strongly focused on the retail segment, which provides a more stable source of funding in the long-term. Stable deposits and operational deposits (those that have proven to be harder to withdraw) account for over 60% of total deposits for nearly all Spanish banks. This has contributed both to a positive evolution of profitability in a context of rising interest rates, as well as to a…

Relevant News Item 12th May 2023

80% of European banks beat expectations in pre-tax profit, +35% year-on-year and +4% quarter-on-quarter

Morgan Stanley: This has been another quarter in which banks have once again posted excellent results. 80% of banks beat in terms of PBT, up +35% year-on-year and +4% quarter-on-quarter, with capital beat also 830bps better, and no signs of deterioration in asset quality (provisions were -26% below our expectations and cost of risk remains conservative at around 55bps in 2023. The management teams highlighted that in deposits the mix…

Relevant News Item 11th May 2023

Ferrovial awarded near-€71-million highway improvement contract in Georgia

Link Securities | The infrastructure group Ferrovial (FER) will carry out improvement works on a section of the US I-85 highway, located in the state of Georgia, specifically in the city of Atlanta, after being awarded a contract valued at around €71 million ($79 million), according to Expansión newspaper on Tuesday. According to Ferrovial, the contract was awarded by the Georgia Department of Transportation to its US subsidiary Ferrovial Construction,…

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