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Tecnic

Companies, Relevant News Item 10th August 2023

Técnicas Reunidas awarded contract in UAE potentially worth €1,636 million

Renta 4| The gas division of the state-owned oil company Abu Dhabi National Oil Company (Adnoc Gas) has reportedly awarded the Joint Venture formed by National Petroleum Construction Co. and Técnicas Reunidas (TRE) a contract worth up to $3.6 billion to expand its gas processing infrastructures in the UAE. Specifically, the contract calls for the construction of new gas processing facilities to optimise supply to the Ruwais industrial complex. The…

china yuanesCM

In the World, Relevant News Item 10th August 2023

China’s CPI and producer prices both show deflation

Bankinter: CPI (July):-0.3% year-on-year vs. -0.4% expected vs +0.0% previous. (ii) Industrial Prices: -4.4% year-on-year vs. -4.0% expected vs -5.4% previous. Assessment: Both CPI and industrial prices mark deflation. The CPI fell -0.3% year-on-year, the first negative reading since February 2021, while industrial prices fell for the tenth consecutive month. This is the first time since November 2020 that both indicators have been negative. After a positive post-pandemic start in…

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In the World, Relevant News Item 10th August 2023

US SME confidence improves: NFIB index rises to 91.9 in July

BancaMarch: US SME confidence improves. The NFIB index beat expectations and rose in July to 91.9 from the previous 91.9 and above the 91.3 expected. With this new advance, confidence was at an eight-month high, but still at very low levels and far from its historical average (98.1). Among the components, we highlight that 25% of the small companies surveyed indicate that they intend to raise their selling prices, the…

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Ibex, Markets, Relevant News Item 9th August 2023

Santander and BBVA drop between two and three points on stock market after new banking tax announced in Italy

Intermoney| Yesterday was a bad day for the Ibex (-0.6%) which saw the effect of the new tax on banks in Italy also felt in the Madrid selective, which, however, at least maintains an advance in 2023 of +13%, in line with the EuroStoxx. Among the stocks that suffered the most were Santander and BBVA, which dropped between 2 and 3 points. Unicaja and Sabadell also had a day to…

alemania reichstang

In Europe, Relevant News Item 9th August 2023

German CPI confirmed at 6.2% in July, with core at 5.5%; food the biggest contributor

Bankinter : July final CPI confirms +6.2% year-on-year preliminary, from +6.4% previously. It is +0.3% month-on-month, which also confirms preliminary. Core inflation +5.5% year-on-year in July from +5.8% prev. Assessment: Food prices (+11% year-on-year in July vs. +13.7% pre) remain the main contributor to CPI. In addition, energy prices (+5.7% year-on-year) are affected by the base effect of the elimination of an EEG tax in July 2022.

Acciona energia

Companies, Relevant News Item 9th August 2023

DBRS Morningstar gives Acciona a ‘BBB’ rating; company wins AUS 120-million Majors Road Interchange project in Australia

Link Securities | Acciona (ANA) informed the CNMV that the credit rating agency DBRS Ratings GmbH (DBRS Morningstar) confirmed Acciona’s rating of ‘BBB’, as well as its short-term rating of ‘R-2 (middle)’, both with a ‘Stable’ trend. These ratings are Investment Grade. Meanwhile, according to Capital Bolsa.com, the Federal MP for Kingston, Amanda Rishworth, the Federal MP for Boothby, Louise Miller-Frost, the South Australian Minister for Infrastructure and Transport, Tom…

DIA supermarkets

Companies, In Spain, Relevant News Item 8th August 2023

DIA makes profit in Spain for the first time in six years: €6.3 million

Norbolsa | DIA achieves profits in Spain for the first time in six years. The company presented its first-half results with a net profit of €6.3 million, compared to the almost €55 million it lost in the first half of 2022. This is mainly due to the transformation process that the company is carrying out where one of the strategies is to reduce the commercial network, since 2018 they have…

china exportaciones

Markets, Relevant News Item 8th August 2023

China’s trade balance deepens economic slowdown

Renta 4: Stock markets point to a flat opening (Eurostoxx futures -0.07%), after a Monday session where there were no major corporate references after the conclusion of the 2Q23 results season (in the absence of Bayer today). In China, weak July trade balance figures were published, with exports falling at their fastest pace since February 2020 (-14.5% vs 12.5% estimated and 12.4% previously) and imports surprisingly down when an improvement…

eurozone.a tope

European economy, Relevant News Item 8th August 2023

Eurozone investor confidence ends three-month decline at -18.9 in August (vs. -22.5 in July)

CdM: Investor confidence in the euro area rebounds more than expected. In August, the Sentix index stands at -18.9 from -22.5 in July. The consensus expected it to fall further to -23.4. This puts an end to three consecutive months of declines. The data was driven entirely by an increase in the future expectations indicator, which rose 7.3 points to -17.3. However, the figure still “underscores current recessionary conditions” and…