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PoundsTC

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)…

Europa chinchetas

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,…

Iberdrola Guggenheim

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…

Aena

Companies, In Spain, Relevant News Item 16th August 2023

Aena figures again exceed 2019 figures in July: 29.76 million passengers

Renta 4| Traffic figures for July exceed the figures recorded in 2019, after a month of June which for the first time in 2023 were below pre-pandemic levels, although these levels are below our forecasts, thus complicating the possibility of reaching the forecasts of 3% above 2019 for the year as a whole. Specifically, 29.76 million passengers were reached, equivalent to 101.2% compared to the same month in 2019, thanks…

Country Garden copia

In the World, Relevant News Item, World economy 14th August 2023

China’s largest developer, Country Garden, may have defaulted on two bond coupons over the weekend

Bankinter| China’s largest developer, Country Garden, may have defaulted on two bonds over the weekend. Its size is four times that of Evergrande. On the other hand, Chinese asset manager Zhongrong International may not have repaid capital and coupons on some of its real estate vehicles. Assessment: Bad news, which once again puts the Chinese real estate sector in check and is a consequence of the government’s scant measures to…

ACS Cimic

Companies, Relevant News Item 14th August 2023

ACS awarded €353 million contract to upgrade infrastructure at Offutt Air Force Base in Nebraska

Intermoney| ACS (ACS) (Buy, Target Price €40/share), through its North American subsidiary Turner, has been awarded a €353-million contract to upgrade the infrastructure of Offutt Air Force Base, in Nebraska. The work is aimed at improving the infrastructure at Offutt Air Force Base, located near Omaha in the state of Nebraska, in preparation for future flooding, after the facility suffered a flooding catastrophe in March 2019. A number of units…

ferrovial texas lbj

Companies, Relevant News Item 14th August 2023

Ferrovial completes financing for expansion of North Tarrant toll road in Texas for almost €378 million

Link Securities | Ferrovial (FER) has completed the financing of the expansion of the North Tarrant Express (NTE) toll road in Texas (United States), for a total of 414 million dollars (almost 378 million euros), according to elConfidencial. According to a statement issued by the Spanish company on Friday, the transaction was carried out through the NTE Mobility Partners consortium, led by its subsidiary Cintra (62.9% stake), and within the…

reino unido

In the World, Relevant News Item 14th August 2023

UK GDP rises +0.4% driven mainly by higher public spending

Bankinter: GDP (year-on-year) rises +0.4% vs +0.2% estimated and previous. Quarter-on-quarter +0.2% vs 0% estimated and +0.1% previous. Assessment: GDP growth surprises positively, although it is mainly driven by the higher contribution of Public Spending (+3.1% against – 1.8% previously). There is also a reactivation of Private Consumption (+0.7% against 0% estimated and previous), which is also reflected in Imports (+1.0% against -3.8% previous). Exports fall, but with less intensity…

españabilleteCM

Relevant News Item, Spanish economy 14th August 2023

Real incomes of Spaniards grow by 1.3%, above OECD average

Link Securities| The real disposable income of Spanish households registered an increase of 1.3% in 1Q2023 over the previous three months, an increase above the 0.9% average for the Organisation for Economic Co-operation and Development (OECD) as a whole, the think tank for advanced economies has reported, according to Europa Press. The increase in real disposable income per capita in Spain in 1Q2023 represents the second consecutive increase, after the…

urbas cartel obra

Companies, In Spain, Relevant News Item 11th August 2023

Urbas sells two blocks of new rental housing in Bilbao for €98 million

Alphavalue/DIVACONS | Urbas (UBS) announced to the CNMV the signing of a sale and purchase agreement whereby it has agreed to promote turnkey, to transfer on completion, to a European institutional fund specialising in residential, two blocks of new build rental housing on Isla Zorrotzaurre, Bilbao’s new Manhattan, the most important area of urban development and urban regeneration in the city in recent years, a development consisting of 314 homes,…