Relevant News Item

Relevant News Item 2nd August 2023

FCC negotiates purchase of Urbaser’s Scandinavian subsidiary in operation valued at €300m

Banco Sabadell : According to press reports, FCC is negotiating with Urbaser the acquisition of its environmental services business in Scandinavia (Sweden, Norway, Denmark and Finland). The operation, which is in its final phase, could be valued at over €300 million. According to the same source, Urbaser Nordic’s business generates an EBITDA of around €40m (~2.8% of FCC). Assessment: Pending further details, the deal could be a good strategic fit…

Relevant News Item, Spanish economy 2nd August 2023

Unemployment falls by 10,968 in July

CdM| The number of unemployed registered in the Public Employment Services Offices, at the end of July, has fallen by 10,968 people in relation to the previous month. In relative terms, the fall in unemployment was 0.41%. Thus, registered unemployment stood at 2,677,874. In July 2022, unemployment rose by 3,230 in relation to the previous month. On the other hand, with respect to July 2022, year-on-year unemployment fell by 205,938…

Relevant News Item 1st August 2023

No news from central banks until Jackson Hole at end of August

Bankinter : No news from central banks until Jackson Hole (24/26 August). This week, RBA (Australia, Tuesday) and BoE (UK, Thursday) will probably follow the same pattern as the Fed and the ECB, rising +25p.b, linking next steps to the macro data yet to be known. If so, the main drivers for the stock markets will be corporate earnings and macro data (inflation, GDP and employment). This week, companies of…

Relevant News Item 31st July 2023

INE preliminary data shows Spain’s growth slows to 0.4% in 2Q23, while inflation rises to 2.3% in July

The Spanish economy grew by 0.4% between April and June compared with the previous quarter, one tenth of a percentage point less than in the previous quarter, while its year-on-year rate eased by more than two points, from 4.2% in the first quarter to 1.8% in the second, due to the lower contribution of the foreign sector. According to the advance National Accounts data published on Friday by the National…

Relevant News Item 31st July 2023

Ebro Foods: Top rice exporter India bans non-basmati white rice exports

Alphavalue / Divancons: The Spanish rice and pasta company is to publish its 2Q23 figures today. On the other hand, India, which is the main rice exporter, took the decision to ban the export of non-basmati white rice. This move is significant as India accounts for about 40% of the world’s rice trade, and the ban will affect a quarter of its total exports. The main objective behind this decision…

Relevant News Item 28th July 2023

Telefónica earns €462 million in June, up 44.5%

The company reported revenues of €462 million in the last three months, an increase of 44.5% compared to the same period in 2022. In this period, revenues rose by 0.9% to €10,133 million. However, in the second half of the year as a whole, the company recorded €760 million, 25.9% less than the €1,026 million in 2022, due to the €200 million of capital gains from the sale of the…

Relevant News Item 28th July 2023

Spanish banking sector NPL ratio rises in May to 3.59%, up from 3.55% in previous month

Link Securities | According to data published by the Bank of Spain and reported by Expansión, the banking sector’s non-performing loans ratio rose in May to 3.59% of total credit, up from 3.55% the previous month, making it two months in a row of increases. However, it remains at the lowest level since December 2008. Compared with the rate in May 2022, the financial sector’s NPL ratio fell by 0.59…

Relevant News Item 27th July 2023

Repsol, which generates 20% of all energy consumed in Spain, reports €1.42 billion profit in first half of 2023

The company has already paid a final dividend of €0.35 gross per share in July, which together with the one paid in January brought the cash dividend for the year to €0.70 gross per share, 11% more than in the previous year. In addition, Repsol yesterday approved a new capital reduction through the cancellation of 60 million treasury shares, which will be added to the 50 million shares cancelled in…

Relevant News Item 26th July 2023

Santander achieves attributable profit of €5,241m in first half of 2023, up 7%

Santander achieved an attributable profit of €5,241 million in the first half of 2023, up 7% in both constant and current euros versus the same period last year, as strong growth in revenues, particularly in Europe, offset the year-on-year growth in provisions in North and South America. In the second quarter, attributable profit increased 17% versus the second quarter of 2022 to €2,670 million, as the number of customers the…

Relevant News Item 25th July 2023

Naturgy reports €1,045M profit up to June and dividend yield over 5%

Naturgy reported a net profit of €1,045 million in the first half of the year, an increase of 87.6% compared to the same period in 2022, mainly due to the “good performance of the internal business activities” and the good management of purchases in a competitive market. The energy company headed by Francisco Reynés increased its investments to €839 million, 16% more, and investments for the five-year period 2021-2025 will…

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