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Unemployment falls by 10,968 in July

CdM| The number of unemployed registered in the Public Employment Services Offices, at the end of July, has fallen by 10,968 people in relation to the previous month. In relative terms, the fall in unemployment was 0.41%. Thus, registered unemployment stood at 2,677,874. In July 2022, unemployment rose by 3,230 in relation to the previous month. On the other hand, with respect to July 2022, year-on-year unemployment fell by 205,938…


jackson hole2019

No news from central banks until Jackson Hole at end of August

Bankinter : No news from central banks until Jackson Hole (24/26 August). This week, RBA (Australia, Tuesday) and BoE (UK, Thursday) will probably follow the same pattern as the Fed and the ECB, rising +25p.b, linking next steps to the macro data yet to be known. If so, the main drivers for the stock markets will be corporate earnings and macro data (inflation, GDP and employment). This week, companies of…


España economia

INE preliminary data shows Spain’s growth slows to 0.4% in 2Q23, while inflation rises to 2.3% in July

The Spanish economy grew by 0.4% between April and June compared with the previous quarter, one tenth of a percentage point less than in the previous quarter, while its year-on-year rate eased by more than two points, from 4.2% in the first quarter to 1.8% in the second, due to the lower contribution of the foreign sector. According to the advance National Accounts data published on Friday by the National…


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Ebro Foods: Top rice exporter India bans non-basmati white rice exports

Alphavalue / Divancons: The Spanish rice and pasta company is to publish its 2Q23 figures today. On the other hand, India, which is the main rice exporter, took the decision to ban the export of non-basmati white rice. This move is significant as India accounts for about 40% of the world’s rice trade, and the ban will affect a quarter of its total exports. The main objective behind this decision…


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Telefónica earns €462 million in June, up 44.5%

The company reported revenues of €462 million in the last three months, an increase of 44.5% compared to the same period in 2022. In this period, revenues rose by 0.9% to €10,133 million. However, in the second half of the year as a whole, the company recorded €760 million, 25.9% less than the €1,026 million in 2022, due to the €200 million of capital gains from the sale of the…


España bancos 1

Spanish banking sector NPL ratio rises in May to 3.59%, up from 3.55% in previous month

Link Securities | According to data published by the Bank of Spain and reported by Expansión, the banking sector’s non-performing loans ratio rose in May to 3.59% of total credit, up from 3.55% the previous month, making it two months in a row of increases. However, it remains at the lowest level since December 2008. Compared with the rate in May 2022, the financial sector’s NPL ratio fell by 0.59…


Repsol

Repsol, which generates 20% of all energy consumed in Spain, reports €1.42 billion profit in first half of 2023

The company has already paid a final dividend of €0.35 gross per share in July, which together with the one paid in January brought the cash dividend for the year to €0.70 gross per share, 11% more than in the previous year. In addition, Repsol yesterday approved a new capital reduction through the cancellation of 60 million treasury shares, which will be added to the 50 million shares cancelled in…


Banco Santander office

Santander achieves attributable profit of €5,241m in first half of 2023, up 7%

Santander achieved an attributable profit of €5,241 million in the first half of 2023, up 7% in both constant and current euros versus the same period last year, as strong growth in revenues, particularly in Europe, offset the year-on-year growth in provisions in North and South America. In the second quarter, attributable profit increased 17% versus the second quarter of 2022 to €2,670 million, as the number of customers the…


Naturgy

Naturgy reports €1,045M profit up to June and dividend yield over 5%

Naturgy reported a net profit of €1,045 million in the first half of the year, an increase of 87.6% compared to the same period in 2022, mainly due to the “good performance of the internal business activities” and the good management of purchases in a competitive market. The energy company headed by Francisco Reynés increased its investments to €839 million, 16% more, and investments for the five-year period 2021-2025 will…


BBVA Torres

BBVA to redeem a €1-billion CoCos issue early

CdM| The Spanish bank will redeem early an issue of preference shares convertible into ordinary shares for a total nominal amount of €1 billion, as reported Friday to the National Securities Market Commission (CNMV). In this way, the entity has informed of its “irrevocable decision” to proceed with the redemption on September 24, coinciding with the first review date. The redemption price for each preference share will be €202,937.50, equivalent…