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Acciona

Markets, Relevant News Item 3rd May 2024

Acciona: downward adjustment for Acciona Energy valuation, but value remains at these levels

Bankinter : We make a fine-tuning downward valuation adjustment for Acciona Energia (ANE), but we continue to see value at these levels. We slightly adjust our estimates and the group’s target price downwards, but we maintain our Buy recommendation. The main reason is the cut in estimates and valuation on Acciona Energía due to lower electricity prices than initially estimated. Weak demand, a high weight of renewables in the electricity…

Applus

Companies, Markets 2nd January 2024

Council of Ministers authorises Apollo fund’s takeover bid for Applus+

Alphavalue: In relation to the application for authorisation of the voluntary takeover bid made by Manzana Spain Bidco (Bidder) for all the shares of Applus+ (APPS), which was admitted for processing by the CNMV on 17 July 2023, Applus hereby states that the Council of Ministers resolved, at its meeting of 27 December 2023, following a favourable report from the Foreign Investment Board, to authorise unconditionally the foreign investment of…

Buque de GNL 960x640 1

In the World, Markets, Relevant News Item 22nd August 2023

Europe may have to compete with Asia for limited gas at start of autumn, despite high storage levels

Renta 4 : Europe opens higher (Eurostoxx futures +0.4%, S&P -0.1%) after last minute gains in the Nasdaq (+1.65%) and after a session yesterday in which the rebound of the first part of the day in the European stock markets was deflated as the session progressed as there were no specific catalysts, beyond accumulating three consecutive weeks of losses in the main world stock markets.The markets are still waiting for…

China

Markets, Relevant News Item, World economy 18th August 2023

Negative news from China continues

Renta 4 : Stock markets open lower again (Eurostoxx -0.3%, S&P flat), after negative closes in the US and Asia. As for central banks, Norway’s central bank unanimously raised rates by +25 bps, in line with expectations, to 4%, and anticipated more hikes in September, arguing that inflation is still not under control. A monetary policy direction that contrasts with that of other countries where they have already started to…

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In the World, Markets, Relevant News Item 17th August 2023

Watch out for Philadelphia Fed’s manufacturing survey

Renta 4| New day with European futures lower at the open (Eurostoxx 50 -0.6%, S&P flat) after a negative close in the US at the lows and with the US IRR 10 hitting the highest since October at 4.26%, and rising today +4 bps to 4.31%, which is an increase of c.+15 bps since Friday. Noteworthy is the publication of the minutes of the Fed’s July meeting where there is…

mercados broker

Markets, Relevant News Item 11th August 2023

Earnings revisions recover but seasonality points to further falls

Morgan Stanley: Last week, analysts noted that the S&P 500 earnings revision breadth had fallen below 0% for the first time in several months. Now, this breadth has reversed back to positive again. What is interesting is that earnings revisions breadth follows a pattern very much in line with historical seasonality, which would point to further declines in October. This observation is repeated globally so earnings revisions for 2024 could…

gas infrastructure

Markets, Relevant News Item 11th August 2023

Uncertainty over winter gas supply: Dutch TTF gas price corrected by 7.5% on Thursday, after 28% hike

Renta 4: European stock markets point to a bearish opening (Eurostoxx futures -0.50%, after a Thursday session in which a better-than-expected US CPI data rebounded from the previous month (3.2% against 3.3% estimated and 3.0% previously) encouraged the markets in the last part of the session in Europe, only to end up deflating at the close of the American session. Although the rise from the previous month is minimal, US…

UE gas

Markets, Relevant News Item 10th August 2023

Price of TTF natural gas contracts reaches 40% increase, exceeding €40/MWh

Renta 4 : Stock markets point to a positive opening (Eurostoxx futures +0.67%), after a positive Wednesday session in Europe in which the markets welcomed the Italian government’s decision to limit the tax on banks announced last Monday. In this sense, the government has clarified that the tax cannot exceed 0.1% of the assets of the institutions and “will not have a significant impact” on those that are remunerating the…

bolsa reloj espana 2

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…

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…