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European economy

Eurozona IPC

European economy, In Europe 25th November 2024

November confidence indicators: consumer confidence falls to -13.7 (vs. -12.5) in Eurozone, and business confidence to 96 (vs. 97.4) in France

Intermoney: The confidence indicators were published yesterday in the Eurozone, both the one referring to consumers and the one referring to businessmen. Regarding the former, in the Euro zone as a whole we saw a noticeable change for the worse, with consumer confidence as compiled by the EC falling to -13.7 pts (vs. -12.5 est.). Concerning the business climate, in this case we had the national reading in France, which…

Portuguese real estate has recovered remarkablyrecovery.

European economy 18th November 2024

European ratings: Moody’s maintains Portugal’s outlook at A3 stable and Fitch and S&P maintain Ireland’s at AA

Bankinter | Moody’s maintains Portugal’s rating and outlook at A3 “Stable”. For our analysts this is good news for the Portuguese economy. “The financial rating agency considers that this rating is a reflection of a competitive and diversified economy”. Moody’s forecasts GDP growth of +1.6% in 2024 and +2.2% in 2025. However, it continues to point to challenges such as the high public debt ratio, although it acknowledges that it…

alemania reichstang

European economy 15th November 2024

Germany’s October ZEW index surprises on downside with 7.4 points vs. 13.1 previously, while EU index declines to 12.5 from 20.1 previously

Link Securities | The ZEW institute published yesterday that its index measuring sentiment about Germany’s economy among major investors and analysts declined in November to 7.4 points from 13.1 points in October, also below the 13.3 points expected by FactSet’s consensus of analysts. This was negatively influenced by Donald Trump’s victory in the US presidential election and the collapse of the German coalition government. The index measuring their perception of…

IAG

European economy 11th November 2024

IAG clashes with UK tax authority over £700 million

London is claiming VAT from the airline group on the redemption of points for flights in the loyalty program. The holding company has already paid £103 million, although it disagrees and does not rule out going to court.IAG, the parent company of Iberia, British Airways, and Vueling, is clashing with the British tax authority (HMRC) over the VAT of IAG Loyalty, its loyalty subsidiary that allows the redemption of points…

bank of EnglandTC

European economy 9th November 2024

Central banks: BoE cuts rates 25 b.p. to 4.75%, Riksbank by 50 b.p. to 2.75%, Norges Bank sticks on 4.50% b.p.

Bankinter : The BoE has cut the policy rate by -25bp, as expected, to 4.75%, but sends a slightly more cautious message about the next moves. Analysis team’s view: Our central scenario pointed to a cut at this meeting. We do not expect any further moves for the rest of the year, especially given the expected pick-up in inflation in the last three months of the year and the level…

InmoColonial

European economy 8th November 2024

Colonial looking at merger with French subsidiary Société Foncière Lyonnaise

Link Securities | The Boards of Directors of Colonial (COL) and its 98.24% owned subsidiary, Société Foncière Lyonnaise (SFL), have agreed to initiate a detailed analysis for their potential merger, whereby COL would absorb SFL. The potential merger would be in line with the group’s strategy of simplifying its structure, one of the key points of which was the takeover bid launched by COL for all SFL shares in August…

ryanair aviones

European economy 5th November 2024

Ryanair profit down 18% as fares fall 10%; outlook for next quarter more positive

Norbolsa | Results for its first half year ending in September and covering the entire summer season show an 18% fall in profit after tax and a 10% drop in fares. On the other hand, the comments for the next quarter are somewhat more positive, pointing out that the fall in tariffs is moderating and will probably be below 5%. In any case, Boeing’s lower aircraft deliveries mean it is…

euros recurso

European economy 3rd November 2024

M3 money supply in euro area rises 3.2% in September, up from 2.9% previously

Money supply in the EurozoneLink Securities | The ECB reported on Friday that the M3 money supply in the Eurozone increased by 3.2% in the month of September at an annual rate, to €16,549 billion. The growth rate exceeded the 2.9% growth rate it had reached in September, which was the reading expected by FactSet consensus analysts. The ECB also published that bank lending to households in the Eurozone increased…

bce lagarde 1

European economy 11th October 2024

ECB highlights weak economy and justifies rate cut by CPI slowdown

Bankinter: ECB minutes of the meeting of 12 September. The focus in the markets has shifted towards economic growth to the detriment of inflation, which has moderated in recent months. Fears of a slowdown in the US economy have raised expectations that the Fed will cut rates more aggressively than the ECB. This approach has carried over to Europe in the face of a somewhat weaker macro picture than in…

Talgo new

European economy 25th September 2024

Talgo and Pesa group, Poland’s largest train manufacturer, sign strategic collaboration agreement

Link Securities | Talgo (TLGO) has taken advantage of the Innotrans trade fair in Berlin (Germany) to seal a strategic agreement with the Pesa group, Poland’s largest train manufacturer, according to Expansión newspaper. In the memorandum of understanding signed yesterday, both companies have agreed to carry out exploratory work to prepare future agreements along three main business lines: i) the tender process for the purchase of very high-speed rolling stock…