Relevant News Item

Relevant News Item, World economy 4th April 2023

What risk premium do analysts use for your country? From Venezuela’s 29% to the Netherlands’ 5.6%

Pablo Fernández | We sent a short email (see exhibit 1) on March, 2023 to more than 15,000 email addresses of finance and economics professors, analysts and managers of companies obtained from previous correspondence, papers and webs of companies and universities. We asked about the Risk-Free Rate (RF) and the Market Risk Premium (MRP) used “to calculate the required return to equity in different countries”. By March 31, 2023, we…

Relevant News Item, Spanish Politics 31st March 2023

Moncloa vetoes ABC newspaper on Sánchez’s Beijing trip

ABC newspaper denounces that “La Moncloa has once again vetoed ABC: the Secretary of State for Communication, Francesc Vallès, has excluded this newspaper from the group of media accompanying the President of the Government, Pedro Sánchez, on the official trip to China that began this Thursday. Despite the fact that ABC applied for accreditation in due time and form, like other media that have been admitted, the Secretary of State…

European economy, Relevant News Item 20th March 2023

Eurozone inflation in February confirmed at 8.5%, but underlying climbs to record 5.6%, ECB says it will remain above 2% until 2025

The eurozone’s year-on-year inflation rate stood at 8.5% in February, down one tenth of a percentage point from January, according to Eurostat, the EU’s statistical office, while the underlying rate, which excludes the effect of energy and food, climbed to a record 5.6%. In this way, the year-on-year inflation rate in the euro area accumulates four consecutive months of deceleration and stood at its lowest level since May 2022, before…

Relevant News Item 15th March 2023

China reopening already noticeable: industrial production and retail sales up 2.4% and 3.5% in February

Bankinter : Several positive data in China. While Retail Sales (Jan+Feb) improve to +3.5% year-on-year, as expected vs -1.8% previously, Industrial Production (Jan+Feb) improves to +2.4% year-on-year vs +2.6% esp. and +1.3% previously. Also, the Unemployment Rate (Feb) rebounds to 5.6% vs 5.3% esp. and 5.5% previously. Finally, the PBoC injected the largest amount of liquidity since December 2020 via a medium-term credit line. Specifically, it amounted to CNY 281…

Relevant News Item 14th March 2023

Spanish retail sales accelerate 0.4% in January

Banca March : In monthly terms, retail consumer spending grew by +0.4% month-on-month, driving an acceleration in retail sales growth to +5.5% year-on-year. Moreover, if we analyse the performance excluding service stations and corrected for seasonal and calendar effects, a +6.3% year-on-year change was recorded in January. By type of product: Food declined by 1.7%, while others rose by 15.0% (among this item, of note was the increase in personal…

In the World, Relevant News Item 13th March 2023

New Chinese Premier Li Qiang believes 5% growth target ‘will not be easy’

Link Securities | In his first press conference after becoming China’s new premier, Li Qiang said it will not be easy for China to reach the 5% growth target, and that it will require redoubled efforts. Li reiterated the specific policies developed last December at the Central Economic and Labour Conference (CEWC) and prioritised stability in growth, prices and employment. In addition, Li said China will coordinate macroeconomic policies by…

Relevant News Item 13th March 2023

ACS wins €2.7 billion contract for nuclear submarine dock at Pearl Harbor

The Spanish group leads a joint venture selected to replace dry dock number 3. The initial scope of the award is $2.839 billion (about €2.665 billion). It may, however, go further. ACS has been awarded this important contract by the US Navy through its construction company Dragados USA and teaming up with local firms Hawaiian Dredging and Orion. The work will take place at the Joint Base Pearl Harbor-Hickam and…

Relevant News Item 9th March 2023

Spain’s industrial output contracts in January, confirming weakness in sector

Tuesday’s session had few major macroeconomic releases. In Spain, industrial production in January contracted and confirms the weakness of the sector. Industrial sector activity fell by -0.9% on a monthly basis, which means that in year-on-year terms industrial production fell by -0.4% compared to +0.7% in the previous month. This negative figure confirms that the rise in production costs and the lower demand continue to punish the industrial sector.

Relevant News Item 7th March 2023

EU plans for joint natural gas purchases could start next month

Santander Corporate & Investment | According to Bloomberg, European Commission Vice-president Maroš Šefčovič expects EU plans for joint natural gas purchases to take their first step next month. The commissioner cites initial estimates of a demand of 24 billion m3 over the next three years. Once the tender is launched in April, the EU expects the first contracts with suppliers in regions such as the US, the Middle East and…

Relevant News Item 2nd March 2023

Boards behaving badly should watch out

Nicolai Tangen (chief executive of Norges Bank Investment Management) | Norway’s oil fund has more than $1tn in assets. For a large investor like us, it is vital to express clear expectations of the boards of the companies we are invested in. Strong and independent boards that can exercise effective oversight of management are fundamental for value creation. A few weeks ago, I went to the World Economic Forum in…

« 1 … 42 43 44 45 46 … 57 »