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eurozona mapa billete 1

European economy 24th September 2024

Eurozone economic activity shrinks in September for first time in seven months: composite PMI falls to 48.9 from 51

CdM | Eurozone private sector activity contracted in September for the first time in seven months, according to preliminary PMI data from Hamburg Commercial Bank and S&P Global, which also shows signs of weakening on the services side. In particular, the advance composite PMI for the euro area came in at 48.9 from 51 in the previous month, its worst reading in eight months. In the case of the services…

iberdrola offshore

Companies, European economy, Ibex 20th September 2024

Iberdrola inaugurates Saint-Brieuc wind farm, one of first two in France

Link Securities | Iberdrola (IBE) has inaugurated on Thursday in Brittany the Saint-Brieuc wind farm in France, one of the first two in the country, with 496 MW of capacity and an annual production of 2 million megawatt hours (MWh), as reported on Thursday by Bolsamania.com. This will provide safe, indigenous and emission-free energy to nearly one million people. With an investment of €2.4 billion, the project began to be…

alemania recesion

European economy 20th September 2024

ZEW economic sentiment index disappoints again, falling to 3.6 points from 19.2 in August

Link Securities | The ZEW Institute published on Tuesday that its index measuring sentiment about Germany’s economy among large investors and analysts fell in its September reading to 3.6 points from 19.2 points in August, down to its lowest level since October 2023. The FactSet analyst consensus expected a much higher reading of 16.6 points. This brings the index to three consecutive months of declines. Meanwhile, the ZEW index, which…

comercio cm 2

European economy 18th September 2024

Eurozone generates trade surplus of €21.2 billion in July, well above July 2023’s €6.7 billion

Link Securities | According to the preliminary estimate of the data, released on Tuesday by Eurostat, the Eurozone generated in July a trade surplus with the rest of the world amounting to €21.2 billion (€21.7 billion in June), much higher than the €6.7 billion reached in July 2023 and the €18 billion expected by FactSet’s consensus analysts. In the month of July, exports of goods from the Eurozone to the…

IAG new

European economy 17th September 2024

IAG: new merger options with TAP Portugal after failure with Air Europa

Banco Sabadell: After failing to go ahead with the purchase of Air Europa (AE) in the short term, there is TAP Portugal, which IAG has already winked at. We believe it makes strategic sense mainly because of its positioning in LatAm (market share close to 7%; with less overlap than AE) and because it deepens the concentration of the sector and also generates synergies (between €250-600 million according to our…

caf cartel fachada

European economy 13th September 2024

CAF selected to bid for renovation of fleet of trams for Transport for London, with €250 million budget

Banc Sabadell | Transport for London (TfL) has just selected the four technologists (Alstom, Hitachi, Stadler and CAF) that can bid for the renewal of a 24-unit tram fleet that will be used to replace older trains on the Tramlink service in the Borough of Croydon, according to Expansión newspaper. The budget for the order could amount to €250 million. Assessment: positive news in the event of being awarded the…

bce lagarde 1

European economy 12th September 2024

ECB to cut rates

Ben Nichols, Managing Director of RAW Capital Partners | Today’s decision aligned with market expectations, and recent macroeconomic data – such as Q2 GDP growth of 0.3% in the Eurozone – supports the ECB’s ongoing monetary easing strategy. Although inflation hasn’t yet hit the central bank’s 2% target, the Eurozone appears to be on a stable path to recovery, with GDP projected to grow by 1% in 2024. With the…

bbva sabadell

European economy 9th September 2024

ECB approves BBVA’s takeover bid for Sabadell and passes buck to CNMV

Norbolsa | The ECB will not oppose Sabadell’s takeover bid, its analysis being on the solvency of both entities (without entering into competition). The ball is now in the court of the National Securities Market Commission (CNMV), which has 20 days to authorise the operation; this decision could come before the authorisation by the National Markets and Competition Commission (CNMC), which would delay the operation further, implying the entry of…

industria central alemania

European economy 7th September 2024

Germany’s industrial production plunges in July to -5.3% year-on-year vs. -3.7% previously, and -2.4% month-on-month vs. +1.7% previously

Bankinter: German industrial production data was released this morning: -5.3% year-on-year vs. -3.5% estimated and -3.7% previous (revised from -4.1%). Month-on-month -2.4% in July vs. -0.5% estimated and +1.7% previously (revised from +1.4%). On the other hand, the Trade Balance came in at €16.8 bn in July vs. €20.9 bn estimated and €20.4 bn previous. Exports +1.7% vs +1.1% estimated and -3.4% previous. Imports +5.4% vs. +0.7% estimated and +0.2%…

inflacion eurozona

European economy 5th September 2024

Services sector in Spain grows to 54.6 points in August, compared to 53.9 previously, and 52.9 in Eurozone

Singular Bank: In August, the final Eurozone services PMI rose to 52.9 (vs. 51.9 in July), representing its highest level in the last three months. In turn, this trend explained the rebound of the composite indicator to 51.0 (vs. 50.2 in July), slightly below the analysts’ consensus estimate (51.2). In Germany, the services PMI fell to 51.2 (vs. 52.5 in July), in an environment marked by the deterioration in private…