Relevant News Item

Companies, Relevant News Item 18th August 2023

ACS’ US subsidiary wins $2.7 billion contract to build the Tennessee Titans’ new stadium

Intermoney| ACS (ACS) (Buy, Target Price €40/share), through its US subsidiary Turner, is part of the TBA consortium, which has been awarded the construction of the new stadium for the Tennessee Titans football team in Nashville. This will involve an investment of $2.7 billion and will be located on the banks of the Mississippi River, next to the current stadium, according to Cinco Días newspaper on Friday. Other members of…

Markets, Relevant News Item, World economy 18th August 2023

Negative news from China continues

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…

Companies, Relevant News Item 18th August 2023

Sacyr, Acciona and CAF, compete for construction and operation of Bogotá’s new Metro Line 2, with investment budget of €6.5 billion

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…

Companies, Relevant News Item 17th August 2023

Urbas to receive initial €29.3m from sale of two blocks in Bilbao (€98m) after contract made public

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…

In the World, Markets, Relevant News Item 17th August 2023

Watch out for Philadelphia Fed’s manufacturing survey

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…

Companies, Relevant News Item 17th August 2023

Naturgy awarded €17.5-million contract to supply natural gas to prisons

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…

Relevant News Item, World economy 17th August 2023

Australian strikes and competition from Asia make gas futures rally for second time in a week

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.

In the World, Relevant News Item 17th August 2023

UK inflation falls sharply (6.8% vs. 7.9%) but core remains at 6.9%

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)…

European economy, Relevant News Item 16th August 2023

Eurozone returns to growth in second quarter, GDP rises by 0.3%

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,…

Companies, Relevant News Item 16th August 2023

Iberdrola launches Carbon2Nature to develop high-impact nature-based solutions projects

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…

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