Relevant News Item

Companies, Ibex, Relevant News Item 7th August 2023

Iberdrola reduces debt maturities in 2023 to less than €2 billion

Link Securities | Iberdrola (IBE) has reduced its debt maturities in 2023 to less than €2 billion, after obtaining €4.855 billion in new financing and extending the duration of €6.1 billion so far this year, as reported on Monday by Expansión newspaper based on Europa Press. Specifically, the electricity company has received the support of the market, having executed some 30 operations between loan extensions and new financing in the…

Companies, Relevant News Item 7th August 2023

Telefónica secures growth targets in Germany despite 1&1 and Vodafone deal

Norbolsa | Telefónica (TEF) secures growth targets in Germany despite the 1&1 and Vodafone agreement. Telefónica reported that operator 1&1 has contractual obligations until 2025, regardless of Vodafone’s announcement to cooperate on German national roaming. Telefónica confirmed that thanks to the momentum of its new O2 brand, it expects to grow in line with targets, highlighting volume growth in all its divisions

Relevant News Item, Spanish economy 7th August 2023

Investment in Spanish real estate sector expected to fall by -50% to €9 billion in 2023: Colonial’s assessment cuts by 3%

Intermoney| According to the newspaper Cinco Días, referring to a report by the real estate consultancy Colliers, investment in the sector’s assets in Spain will suffer a cut of close to 50% over the course of this year, remaining at €9 billion. The reasons given for this include the aggressive monetary policy of central banks, which has pushed yields up. Another negative factor, which particularly affected the second quarter, was…

Relevant News Item, Spanish economy 7th August 2023

Spanish industrial production falls by 1.4% in June and returns to negative rates

CdM | Spanish industrial production returned to negative rates in June, a month in which the General Industrial Production Index (IPI) fell by 1.4% year-on-year, according to data from the National Statistics Institute (INE). This rate is 1.4 points lower than in May. Adjusted for seasonal and calendar effects, the index presented a fall of 3% in June with respect to the same month the previous year. This rate is…

Relevant News Item 3rd August 2023

Aena’s good results suggest up to 3% improvement in Ebitda in 2023

Morgan Stanley| Aena presented its 2Q23 results on Wednesday with good news for investors including (1) strength in the commercial sector (+19% in Duty Free spend per passenger), (2) lower dilution in the aviation sector and greater OpEx control, (3) the proposed 2024 tariff increase to 4.1% year-on-year and (4) EBITDA of €802m, 5% above consensus and 9% above MS expectations. These aspects should drive the company to achieve +2-3%…

Relevant News Item, Spanish economy 3rd August 2023

Rental prices in Spain hit another all-time high in July

Intermoney| According to the report published by the real estate portal Idealista, rental prices in Spain set another all-time high in July, reaching 11.9 euros per m2 per month. During the last quarter, prices have increased by +3.7%, accumulating a growth of more than 9% in the last 12 months. Within the capital cities, not only Madrid and Barcelona, but also Málaga and Valencia are at their highest levels since…

Relevant News Item, Spanish economy 3rd August 2023

Tourist numbers grow in Spain, but remain below 2019 figures

BancaMarch : The number of tourists in Spain has grown during the first six months of the year, but it is still below the 2019 figures. Nearly 38.5 million tourists have visited our country during the first half of the year, a figure that although 23.7% above the first six months of 2022, is still below the levels of 2019 (-1.6%). On a positive note, both total expenditure and expenditure…

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…

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