The ICO debt sale was further confirmation that investors’ fears have abated, as the Spanish government said it had already assured almost 9.5 percent of all market credit needed in 2013–that is €11.4 billion.
The Spanish ministry of Finance announced Thursday it was taking legal action against Bloomberg. The news agency published a feature about the government tax department forcing foreign companies to make payments to bid for online gaming licenses, and other irregularities.
BBVA announced the formation of BBVA Ventures, a strategic initiative that will invest $100 million in startups looking to transform the financial services industry. Through this effort, BBVA will work with entrepreneurs and venture capital investors to broaden the bank’s understanding of emerging trends, helping advance innovative initiatives in banking and finance.
In an investor note on Wednesday, BNP Paribas said it forecasts a premium risk for Spain under 350 basis points and a prolongation of the average life of the government debt–that is, more time to pay back.
MADRID | By Tania Suárez | Daniel Álvarez is analyst at XTB. In a conversation with The Corner, he forecast a “positive scenario” in which “the Spanish risk premium may go even below 250 basis points before the end of the year.” Also, he claimed, “if Europe does its homework, the eurozone markets will become a very good investment opportunity.”
LONDON | The British banking sector is well capitalised by European standards, but banks now expect the ability to raise finance to become a significant limitation on business during this year.
LONDON/MADRID | Financial conditions have relaxed for government debt and will ease the current adjustment applied over the public and private sectors. Trends among foreign investors point at an Ibex35 rally in 2013. On the macroeconomic horizon, though, there are some doubts still fresh.
BBolsa analysts said this could be “a first step towards the stabilisation of the real estate asset-backed debt market in Spain, and housing market.
Justin Dargin | Global carbon trading could potentially be the most effective economic tool to regulate industrial Co2 emissions in the fight against climate change.
By CaixaBank research | In emerging Europe, has the slowdown touched bottom? The bulk of the evidence available suggests that it hasn’t and that the fourth quarter will be worse than the third.