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European economy

airbus c220

European economy 25th March 2025

Airbus: solid demand, strong financial position and long-term growth potential

Bankinter | We revise estimates and recommendation. Solid demand and good financial position. We are upgrading our recommendation from Buy (under review). We set our Target Price: €171.5/share (from €127.8/share). Airbus has solid demand, long-term growth potential and a strong financial position. It is managing the two fronts that led to the profit warning in mid-2024: supply chain difficulties and analysing strategic options for Space Programs. The targets for 2025…

inflacion precios

European economy 25th March 2025

Eurozone consumer confidence index falls from -13.62 points to to -14.5 in March

Link Securities | The European Commission (EC) has published that, according to the preliminary reading of the data, the Eurozone consumer confidence index fell in March to -14.5 points from -13.6 points in its final reading in February. The consensus of FactSet analysts expected a significantly higher reading of -12.9 points. It should be noted that this indicator has averaged a reading of -10.57 points in the period from 1985…

SantanderUK

European economy 20th March 2025

Santander restructures UK business by reorganising branches to increase profitability

Link Securities | Banco Santander (SAN) is restructuring its UK business to increase the profitability of the subsidiary, which has been under pressure in recent years and is below the group average, according to the newspaper Expansión. Specifically, Santander’s British subsidiary has announced a reorganisation of its branch network, which will involve the closure of 95 branches, 21% of the 444 it currently has. In addition, it will introduce other…

Tecnic

European economy 11th March 2025

Técnicas Reunidas and Siemens Energy to carry out design engineering for La Robla Green, one of Europe’s largest renewable methanol plants

Alphavalue/DIVACONS | A consortium made up of Técnicas Reunidas (TRE) and Siemens Energy (reduce, Target Price €53.4/share) will be in charge of carrying out the front-end engineering design (FEED) for the La Robla Green project, which aims to develop one of the largest renewable methanol plants in Europe in the city of León. As Técnicas Reunidas explained, the Spanish company Reolum awarded the project to this consortium. Técnicas Reunidas: Add,…

Indra radares

European economy 6th March 2025

With European defence sector benefiting from geo-strategic environment, Indra trades at lowest multiples

Bankinter: The good momentum in the sector continues and our thematic portfolio is up 30% for the year, especially thanks to European stocks. In February the Munich Security Conference ended without a preliminary agreement to put an end to the war between Russia and Ukraine, but with a clear conclusion: Europe must be prepared and significantly increase its defence spending. In line with this argument, some NATO countries have already…

colonial inmo

European economy 6th March 2025

Colonial and French subsidiary SFL give green light to joint merger project between the two

Renta 4 | Yesterday, after the market close, Colonial announced in a statement to the National Securities Market Commission (CNMV) that the Boards of Directors of Colonial and SFL had approved the joint merger project between the two companies (with Colonial as the absorbing company). The intra-European cross-border merger will involve the extinction of SFL through its dissolution without liquidation and the transfer en bloc of all its assets to…

IAG new

European economy 4th March 2025

IAG pays UK HMRC €673 million for VAT claim linked to IAG Loyalty programme

Bankinter | IAG, the parent company of Iberia and British Airways, has paid £557 million (around €673 million) to the British Customs and Revenue service in relation to the VAT claim for flights redeemed in its loyalty programme (IAG Loyalty). The UK requires it to pay a 20% tax rate, regardless of the product being redeemed. Analysis team opinion: News with little impact because it is not surprising. It coincides…

cellnex1 655x368 1

European economy 3rd March 2025

Phoenix Tower International acquires 100% of Cellnex’s business in Ireland for €971 million

Alphavalue / Divacons | The Spanish communications tower company and Phoenix Tower International closed the deal announced on 5 March 2024, whereby PTI has acquired 100% of the Irish telecommunications tower and infrastructure operator for €971 million. ‘As we announced at the results presentation, next Monday we will begin the share buyback programme of up to €800 million as the first step in our unequivocal commitment to shareholder remuneration. It…

IPC varios Eurozona.

European economy 25th February 2025

Eurozone inflation rises to 2.5% in January due to increase in energy price, largest increase since July

CdM | Eurozone inflation rose by a tenth of a percent in January, bringing the year-on-year rate of the Consumer Price Index (CPI) to 2.5%, in line with estimates and the highest increase since July last year, according to the second reading published by Eurostat, the statistical office of the European Union (EU). The rise in inflation was mainly due to the increase in the cost of energy, which rose…

airbus A320

European economy 24th February 2025

Airbus CEO says deliveries to non-US customers could be prioritised if tariffs disrupt imports

Link Securities | Airbus (AIR) CEO Guillaume Faury made it clear on Thursday that he could prioritise deliveries to non-US customers if tariffs disrupt the aircraft manufacturer’s imports into the United States, according to Bolsamanía. We have great demand from the rest of the world, so if we face very significant difficulties in delivering to the United States, we can also adapt by bringing forward deliveries to other customers who…