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EIB grants €80 million loan to CAF for iR&D&I at its centres in Spain and Poland

Link Securities | The company and the European Investment Bank have signed a loan agreement for €80 million to finance the company’s research, development and innovation (R&D&I) programme, according to Expansión. The European bank’s loan will enable the train and bus manufacturer to invest in digitalisation, autonomous mobility solutions and the energy efficiency of trains and buses. All R&D&I investment will have to be made at CAF’s centres in Spain…


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IAG to participate in Air Europa’s capital increase following entry of Turkish Airlines

Link Securities | IAG (IAG) has decided to participate in Air Europa’s capital increase following the entry of Turkish Airlines into its shareholding structure, as confirmed on Friday by the Spanish-British group, according to a report in Expansión on Friday. Iberia’s parent company acquired a 20% stake in Air Europa in August 2022 after converting a €100 million participatory loan. This was the first step in its second attempt to…


Acciona

Acciona: improvements continue in Infrastructure division and at 47%-owned Nordex

Bankinter | The aggregate Infrastructure portfolio is up 7% since December 2024 and has reached a new all-time high. Nordex’s portfolio and profitability are growing. The turbine subsidiary’s portfolio is 12% higher than in December and the EBITDA margin reaches 5.7% compared to 4.1% in 2024. These improvements are reflected in Nordex’s share price, which is up 87% for the year. In the Real Estate division, the value of assets…


redeia fachada

S&P could downgrade Redeia’s rating within three to six months depending on remuneration framework and planned investments

Link Securities | Credit rating agency S&P maintains uncertainty regarding Redeia’s credit rating and states that there is a 50% chance of downgrading its rating within three to six months, according to elEconomista.es. The outcome will depend on three key factors: the final design of the National Commission for Markets and Competition’s remuneration framework, the schedule and volume of investments defined in the next Transmission Network Development Plan 2026-2031, and…


inditex junta 2025

Inditex sets new records again in first half of fiscal year, profit of €2.791 billion, but falls short of expectations

CdM | The textile company posted a net profit of €2.791 billion during the first half of its 2025-2026 fiscal year (between 1 February and 31 July), representing an increase of 0.8% over the previous year, according to Europa Press this morning. Inditex has thus once again achieved new records with its results, albeit with more moderate growth, below analysts’ forecasts. However, the company has highlighted the ‘strong’ start to…


Iberdrola renovables eolica2

Iberdrola offers Trump mega investment plan to save its US offshore wind farms

Bankinter | The company wants to maintain the US as its main investment focus. It has made this clear to the American government. However, everything will depend on key projects not being blocked or, if some of them are shut down, such as offshore wind farms – against which Trump is waging a personal crusade – being compensated with new opportunities, especially in the development of electricity grids. The group’s…


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Spain’s services PMI fall from 55.1 to 53.2 points in August

Link Securities | According to S&P Global, Spain’s services purchasing managers’ index (PMI) fell in August to 53.2 points from 55.1 points in July, falling well below the 55.3 points expected by FactSet analysts. Any reading above 50 points indicates expansion of activity compared to the previous month, and below that level, contraction. According to this index, activity in Spain’s services sector has been expanding on a monthly basis for…


solaria placas

Solaria to install 1,100 MWh of batteries in Spain, potentially generating annual EBITDA of around €11-13 million

Intermoney | Solaria (Buy, PO £13) announced yesterday after the market closed that it has agreed to purchase batteries with a total energy capacity of 1,102 MWh, involving an investment of around £80 million. The company reports that installation will begin progressively from December. The equipment will be operated automatically using AI-based energy management software. Assessment: According to data provided by Solaria, the investment in batteries represents a ratio of…


Iberdrola edificio

Iberdrola leads bid for Australian electricity grid worth estimated €2.24 billion

Banco Sabadell | According to press reports, the Spanish energy company is leading the bid for the VNI West project in Australia, an electricity transmission line with an estimated value of €2.24 billion. Iberdrola is competing in a consortium with Australian companies Capella Capital and AusNet. The project faces public opposition due to the overhead route, which has delayed its launch until at least 2030. Assessment: Positive news if confirmed,…


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Industrial prices in Spain fall 0.7 percentage points year-on-year in July to 0.3%, compared to 1% in June

Singular Bank | According to data from the INE (National Statistics Institute), in July the year-on-year rate of variation in industrial prices in Spain slowed by 0.7 p.p. to 0.3% (versus 1.0% in June). By item, energy prices slowed their growth to 1.5% year-on-year (versus 4.0% in June), while consumer goods prices fell by 1.3% (versus a drop of 1.7% in the previous month). Meanwhile, in monthly terms, industrial prices…