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ARM Softbank

Companies, In the World, Relevant News Item 23rd August 2023

UK chipmaker Arm, owned by Softbank, prepares its IPO in US, for which it needs a high valuation

Alphavalue / Divacons| The UK-based chip design company is preparing its US IPO, which could come as early as September. Arm’s owner, Softbank, needs a high assessment to clean up its image after recent fiascos. The IPO could fetch a valuation of around €60 billion, the highest in the US this year. But the situation appears to be complex, given that the chipmaker’s main market has stopped growing, its model…

BRICS

Relevant News Item, World economy, World politics 23rd August 2023

BRICS contemplate enlargement at Johannesburg Summit

Banca March: More than 60 developing countries from Latin America, Africa and Asia are attending the meeting, which has been running since Tuesday and will continue until Thursday. During these days, the BRICS are considering adding new members from among 23 possible candidates that have not yet been revealed, although there is speculation about countries such as Iran, Venezuela and Saudi Arabia, among others. The terms of admission remain undefined,…

EDP

Companies, Relevant News Item 23rd August 2023

EDP Renewables’ first hybrid project in Poland: 45 MW of solar and wind power combined

CdM | EDP Renewables (EDPR) has officially inaugurated its first hybrid project in Poland, combining wind and solar power, with the commissioning of a new 45 megawatt (MW) photovoltaic park in Konary, in the west central part of the country. The project is also the third hybrid project implemented by EDPR globally, the company said in a statement on Tuesday. The Konary PV farm will use the same receiving station…

Eurozona PMIs chunguis

European economy, Relevant News Item 23rd August 2023

Eurozone services sector worsens in August with similarly weak manufacturing performance: region could contract by 0.2% in Q3

CdM: The eurozone’s private sector activity has deteriorated significantly during the month of August, when in addition to the fall in activity in the manufacturing sector there has also been a worsening in services, according to advance data from the Purchasing Managers’ Index (PMI) and reported by Europa Press, which suggest a contraction in the eurozone’s GDP of 0.2% in the third quarter of 2023. Specifically, the advance estimate of…

banco sabadell palmeras

Companies, In Spain, Relevant News Item 22nd August 2023

Blackrock reduces stake in Banco Sabadell but remains largest significant shareholder

Link Securities | BlackRock has downgraded its stake in Banco Sabadell from the 4.460% it held since 14 February to 3.964%, according to the notification sent on Monday to the Comisión Nacional del Mercado de Valores (CNMV), reported Europa Press. Taking into account the current share price of the Catalan bank, BlackRock’s stake is valued at around €215 million. With this reduction, the fund’s stake in the bank is the…

Buque de GNL 960x640 1

In the World, Markets, Relevant News Item 22nd August 2023

Europe may have to compete with Asia for limited gas at start of autumn, despite high storage levels

Renta 4 : Europe opens higher (Eurostoxx futures +0.4%, S&P -0.1%) after last minute gains in the Nasdaq (+1.65%) and after a session yesterday in which the rebound of the first part of the day in the European stock markets was deflated as the session progressed as there were no specific catalysts, beyond accumulating three consecutive weeks of losses in the main world stock markets.The markets are still waiting for…

norges bank

Companies, In Spain, Relevant News Item 22nd August 2023

Norges Bank strengthens its holdings in Repsol, Solaria, Unicaja and BBVA this summer

Link Securities| The Norwegian Pension Fund, considered the world’s largest sovereign wealth fund, has in recent months strengthened its holdings in some of Spain’s listed companies. Last week, Norges Bank announced a 5.03% position in Repsol, a position valued at current prices at €908.7 million, after starting the year with 3.21% of the share capital. A few days earlier, it acquired a new package of shares in Solaria, going from…

Corporacion alba

Companies, In Spain, Relevant News Item 22nd August 2023

Corporación Financiera Alba takes a 3% stake in Inmobiliaria Colonial

Alphavalue / Divacons| The company has taken a 3.01% stake in Inmobiliaria Colonial, according to CNMV data. Thus, at current prices, the almost 16.3 million shares have a value of €85.9 million. On the other hand, our analysts have upgraded their EPS estimates for the Spanish holding company. We improve our 2023 EPS forecast by +24% (€3.56/share vs. €2.87/share previously expected) and for 2024 EPS by +22% ( €4.04/share vs….

alemania reichstang

European economy, European politics, Relevant News Item 22nd August 2023

Germany proposes restrictions on Chinese direct investment in sectors like semiconductors, AI and quantum computing

Banca March| German Vice Chancellor Robert Habeck, Germany’s finance minister and a member of the Green party, is proposing restrictions on sectors where Chinese influence could pose a threat to Western economic security. These include semiconductors, artificial intelligence and quantum computing. These measures are framed in a context of debate and criticism of China’s geopolitical situation; authoritarianism in the country, military threats against Taiwan and ties with Russia. On the…

espana europa billete

Relevant News Item, Spanish economy 21st August 2023

Spanish public debt closed June at €1.569 trillion, reaching record highs

BancaMarch: Spain’s public debt continues to grow. Public debt closed June at €1.569 trillion, reaching record highs, above the levels seen during the pandemic, according to data published by the Bank of Spain. The increase in debt is a consequence of lower revenues and higher expenses derived from the war in Ukraine and the pandemic. The difference with respect to the previous month amounts to €26.93 billion. If we compare…