Markets

Metrovacesa

From Metrovacesa To Merlin Via The Crisis

Before the crisis, Metrovacesa was one of the five big Spanish property companies, born out of Madrid’s expansion with the construction of the underground in the first few decades of the XXth century.



Spotify made its debut on Wall Street on Tuesday

Spain Does Not Have One Unicorn vs 34 In Europe And 100s In The US

Despite the fact that over the last 10 years there has been a lot of feverish activity promoting technological entrepreneurship and help for startups in Spain, so far we still do not have one company which is worth more than 1 billion dollars, what is referred to as a Unicorn.


energy sector

Energy Sector Carries The Highest Yields In Europe

UBS | German 10yr bond yields have turned negative and some European corporates are effectively “being paid to borrow”. What are the implications for European equities? Although there has been a deepening of Global growth fears in recent weeks, economic surprise indicators and PMIs have not collapsed.


Sacyr Go

Cellnex, Viscofan replace family-owned builders Sacyr, OHL in Ibex 35

Newcomer to the stock exchange, Cellnex (a subsidiary of Abertis in the business of telecommunications networks) and oldtimer Viscofan (which manufactures cellulose wrapping for the food sector) will substitute two new generation construction companies (Sacyr and OHL). Both of these firms are controlled either by families or professionals.


fund flows in 2016

A Solution To Solve The Savings Crisis: Bring Back Imputation For Company Dividends

AXA IM | With voters losing faith in the policy prescriptions of elites everywhere, including central bankers, there will be increasing pressure to find a ‘better solution’ not least to the pressures on the savings industry. Our contribution would be to monetise a lot of government debt and bring back franking credits on equity dividends.


natural gas

US Natural Gas Production Stalls As Europe Becomes The Dumping Ground For Gas Supplies

Julius Baer Research | US natural gas prices surged more than 5% yesterday in part driven by slowing production and warm weather forecasts suggesting increased power demand. The official monthly statistics released yesterday showed a sequential decline of natural gas production in March, confirming the view among analysts that the shale oil drilling downturn will weigh on associated natural gas supplies.


energia renovables

European Utilities Will Invest Nearly €85 Bn In Renewables And Networks

The main European electricity companies will invest nearly €85 billion over the next four years to speed up their strategic transformation to enable them to deal with the foreseeable drop in coal and gas prices. The companies plan to turn their strategies around, focusing more on renewable energies, networks and regulated activities.


banking sector

Should Banks Be The Cheapest Sector In The World?

UBS | With 1Q16 results over it is time to take stock. European banks are down 18% YTD against a market 5% lower, with continuing hair-raising volatility in parts of the banks index. Our estimates changed surprisingly little during results: interesting considering the bearishness of many investors we meet.