Santander Corporate & Investment| And, as a result, and with the Beige Book still pointing to an improving economy since May, our economists anticipate a rebound in inflation and an unchanged road map for the Fed (hike in July of 25bp, pause in September and hike in November). The first pleasant surprise, seeing how the improvement in inflation came from the core side, which retreated to +0.2% m/m (+0.4% p)…
Link Securities| The Europa Press agency reported yesterday, according to a statement from the stock market regulator, that the National Securities Market Commission (CNMV) has opened disciplinary proceedings against two directors of the Ecoener group for financial assistance during the company’s flotation on the stock exchange. Specifically, the CNMV has opened this case owing to the financing granted to two shareholders on April 29, 2021 for the subscription of shares…
The Government has given the green light this Tuesday in the Council of Ministers to the Public Employment Offer (OEP) for the year 2023. A record number of 39,574 vacancies in total, 16% more than those offered last year. This was announced by the Minister of Finance and Public Administration, María Jesús Montero, at the press conference following the Council. The government has finalised the offer after receiving the approval…
Renta 4| The winter season runs for five months, from November to March. Iberia has programmed a level of connections for next winter (November 2023/March 2024) to the American continent that is 17% higher than in 2019. The big leap will take place in the US, with 90 weekly flights and 24% more capacity. In Latin America, Iberia intends to increase supply by 14% more than before the pandemic. On…
The CEO of Repsol, Josu Jon Imáz, took part on June 22 in a debate organised by the newspaper El Correo, and took the opportunity to warn of the hypocrisy, inefficiency and paradoxes of European energy policy.For example, in Spain it is forbidden – by law – to explore for and produce natural gas “and at the same time we are encouraging companies to bring gas from the United States,…
Alphavalue / Divacons| The hotel chain held its General Shareholders’ Meeting yesterday. The Executive Vice Chairman and CEO of the group, Ramón Aragonés, told the meeting that the revenue estimate for 2Q23 will exceed the figure for the same quarter of 2019 by more than €100 million. In addition, they expect EBITDA to grow between April and June, driven by good results in key markets, both in the leisure and…
Banco Sabadell: According to information in the press, the EC in a report sent to the Council and the European Parliament is calling for the withdrawal of emergency interventions in the wholesale market, such as the cap on income in the electricity market (€180/MWh in Europe and €67/MWh in Spain) for infra-marginal technologies (renewable, hydro and nuclear). The EC considers that electricity price peaks are not expected next winter like…
Business insolvencies soared 31% in May compared with the same month last year, after 29% in April, according to data from Informa D&B, which show that last month 699 companies were forced to request the former suspension of payments compared with 532 in May 2022, recording the highest figure so far this year. Between January and May, the number of companies in insolvency proceedings was 2,585, slightly lower than the…
Link Securities| In a Significant Event sent to the National Securities Market Commission (CNMV) it is reported that Navantia Seanergies has awarded the company the contract for the assembly and construction of jacket components for the Dieppe Le Tréport wind farm. The contract, awarded to the subsidiary Nervión Naval OffShore, is the largest in Amper’s history, and will run from 2023 to 2025. The order book, including this new contract…
Link Securities | BBVA (BBVA) notified the National Securities Market Commission (CNMV) of the partial execution of the capital reduction resolution adopted by the Ordinary General Shareholders’ Meeting held on March 17 2023, through the reduction of BBVA’s share capital by a nominal amount of €31,675,343.91, and the consequent redemption of 64,643,559 treasury shares of €0.49 par value each, held by the company as treasury shares. The treasury shares subject…