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Japanese general

In the World, Relevant News Item 6th May 2023

IMF points to ‘uncertainty’ over Japan’s monetary policy

BancaMarch | The International Monetary Fund today alluded to “uncertainty” around the direction of Japan’s monetary policy, saying a possible shift to ultra-low interest rates could have a significant impact on global financial markets. Krishna Srinivasan, head of the agency’s Asia-Pacific Department, also pointed to risks surrounding Asia’s economic outlook, such as weakening exports to advanced economies, slowing productivity in China and fragmentation of global trade.

Volkswagen analysis

Companies, European economy, Relevant News Item 6th May 2023

Volkswagen sales reach €76,198m (+21.5%) in 1Q23, while BMW’s total €36,853m 8 (-64%)

Norbolsa | Volkswagen yesterday posted sales and operating profit above consensus expectations, €76,198M (+21.5%) against €72,300M estimated and €4,730M (versus -29.9% year-on-year) as opposed to €4,076M, respectively, mainly driven by volume, strong pricing and product mix. Geographically, growth was largely attributable to strong growth in Europe and NAFTA, while on the negative side, deliveries in China declined by -14.5%. Meanwhile, BMW released its 1Q23 results, coming in above consensus expectations….

cryptocurrency general

In the World, Relevant News Item 5th May 2023

More and more countries (EU included) seek to mitigate risk of dollar dependency

Morgan Stanley | Crypto analyst Sheena Shah reviews the digital currency initiatives that central banks (CBDCs) are starting to put forward as an alternative to the use of cryptos. The use of cryptocurrencies for everyday payments is complex and expensive for the consumer and the ecosystem has not developed, except for in Switzerland. Companies such as Adyen have no plans to incorporate crypto payments into their offerings Their conclusions are…

ACCIONISTA MINORITARIO

Relevant News Item 5th May 2023

One in four UK and US retail investors believe they make “uninformed” decisions

F.R. | 26% of retail investors in the UK and US say they “have little understanding” of their asset portfolios and “feel they make uninformed decisions” about them, according to the Shareholder Voice 2022 survey of 3,000 people in the two countries by UK financial services firm Equinity. According to the survey, the most likely profile of the uninformed shareholder is a person between 41 and 56 years of age,…

ECB PPEP

European economy, In Europe, Relevant News Item 4th May 2023

ECB: the APP reinvestments will stop in July

Annalisa Piazza (MFS IM) | The ECB announced today its decision to hike policy rates by 25bp after hiking by 50bp at its March meeting. Inflation is high and pushing it down to its 2% target in the medium term remains the ECB top priority. However, a slower pace of hiking was not a surprise as current levels of rates are already in restrictive territory and the economic picture for…

Fluidra piscina

Relevant News Item, Spanish economy 4th May 2023

Fluidra claims water consumption in pool sector “very low” in Spain, around 0.15%.

Link Securities | At a symposium at the Círculo Ecuestre, Fluidra’s president, Eloi Planes, said yesterday that this year’s drought will have an impact on the swimming pool business, but he also said that it could be a driver of growth in the medium and long term, according to the newspaper Expansión. Planes explained that the renovation of equipment for more sustainable systems will be a vector for growth. Despite…

FCC2

Companies, Relevant News Item 26th April 2023

FCC results better than expected: €96.9m profit almost double estimated €51m

Bankinter : Better than expected 1Q23 results in Sales, EBITDA and PBT. The main figures in the quarter compared to the market consensus (Bloomberg): Revenues €2,026M vs. expected €1,889M; EBITDA €332M vs. expected €315M; and PBT €96.9M vs. expected €51M. By activities, the performance is generally good in all areas, but the positive evolution of Water (+16.6% year-on-year in Revenues) and Construction (+55.7% year-on-year) stand out. Net debt stands at…

litio chile

Relevant News Item, World economy, World politics 25th April 2023

Chile, world’s largest producer, to nationalise lithium industry

Alphavalue / Divacons | Chile’s President Gabriel Boric announced the nationalisation of the lithium industry, especially important for electric car batteries. State-owned Codelco will determine investments and exploitation by private companies. Chile is the largest producer of lithium. While it is claimed that this will not affect current contracts, it is a stark reminder of the insecurities for mining companies, and not only in Chile.

electricidad1CM

Relevant News Item 24th April 2023

Price volatility kills off one in ten electricity companies in Spain

Price volatility in the electricity market is having ruinous effects on independent electricity suppliers. So far this year, a dozen have gone under, at a rate that is not far short of one per week. This can be seen in the permanently updated census of electricity retailers kept by the National Markets and Competition Commission (CNMC). The smaller distributors are falling victim to the tsunami of prices in the electricity…

bolsa espana reloj

Ibex, Markets, Relevant News Item 22nd April 2023

Ibex 35 closes week at 9,415 points after dropping 0.37% on Friday

Nicolás López (Singular Bank) | Friday’s session closed in Europe with a mixed tone and slight variations in the main stock market indices. After the rises of the last few weeks, which have brought the indices back to their highs before the banking crisis, investors have been cautious in general as they wait for new references. In particular, the results season that has just started and the central banks’ meetings…