European economy

UE gas

EU plans to revive US gas purchases, looking for ways to aggregate demand

Link Securities | The European Union (EU) plans to revive its bid to buy more US gas, betting that US President Donald Trump is more open to negotiate after temporarily suspending the tariffs from taking effect, POLITICO reported on Monday. The bloc plans to resume talks on increased purchases of US liquefied natural gas (LNG) and will offer specific proposals to address Trump’s position on transatlantic trade, three European officials…


arcelormittal 655x368 1

European steel sector: EBITDA for 2026 expected to be 7% lower on average, ArcelorMittal among best options

Deutsche Bank | The most pessimistic fears have been mitigated, but US tariffs have created great uncertainty about steel demand, given the complexity of breaking down the impact on end markets. In our new baseline scenario we reflect this situation (although without reaching a full-blown recession) and we cut our assumptions about demand and prices in the sector, reducing our EBITDA forecasts for 2026 by 7% on average. We also…


caf cartel fachada

CAF subsidiary Solaris to supply 170 electric buses to two Swedish operators for over €100 million

CdM | The company has won two new contracts in Sweden to supply a total of 170 electric buses, with a combined volume of both operations exceeding €100 million, as reported by the CAF group. On the one hand, the Swedish operator Nobina Sverige AB has selected Solaris to supply 89 electric buses to be used in Stockholm, a new order that joins other recent orders from this same operator…


airbus c220

Airbus delivers 71 aircraft and registers 211 gross orders in March

Deutsche Bank | Airbus (ABS) has released its orders and deliveries for March 2025. The company delivered 71 aircraft and recorded 211 gross orders, delivering a total of 136 aircraft in the first quarter of 2025. March 2025 deliveries are the highest in any March since 2022, supporting the view that Airbus’ industrial performance is improving. This could bode well for the rest of the year, if tariffs do not…


Retail Eurozone

Eurozone retail sales grow less than expected in February: up 0.3% and 0.2% in EU

CdM | Eurozone retail sales grew less than expected in February. Compared to last month, seasonally adjusted retail trade volume increased by 0.3% (against the expected 0.5%) in the eurozone and by 0.2% in the European Union (EU), according to initial estimates from Eurostat, the EU’s statistical office. In January 2025, the volume of retail trade remained stable in the eurozone and grew by 0.1% in the EU. In year-on-year…


Alemania IPC

Inflation in Europe: preliminary data in Germany eases one-tenth in March to 2.2% year-on-year, Portugal from 2.4% to 1.9%

Bankinter | Inflation (preliminary data) in Germany eases one-tenth in March to 2.2% (versus expected 2.2% versus previous 2.3%). Today the EMU CPI was published, standing at +2.2% versus the previous +2.3%. For now, inflation is improving in Germany, Spain (+2.3% versus +3.0% previously) and Portugal (+1.9% versus 2.4% previously), remains stable in France (+0.8%) and is picking up in Italy (+2.0% versus +1.6% previously). Indeed, in Portugal, the preliminary…


telefonica edificio

Telefónica to look into any consolidation options for business arising in Spain, Germany and UK

Link Securities | The company has set itself the goal of strengthening its position as a strategic company at the European level, for which it will analyse any consolidation options for its business that arise in Spain, Germany and the United Kingdom, as revealed yesterday by the operator’s new CEO, Emilio Gayo, reports Bolsamania.com. ‘In Spain, Germany or the UK, Telefónica, which wants to play a strategic role at the…


euros recurso

Eurozone money supply up 4% year-on-year, 2/10 pp above previous month, highest level since November 2022

Banca March | In the Eurozone, the money supply has accelerated to its highest level since November 2022: the M3 registered an increase of 4% year-on-year, two tenths above the previous month. This improvement shows greater dynamism in credit, with loans to non-financial companies growing by 2.2%, two tenths more than the previous month, and loans to households also accelerating to a year-on-year increase of 1.5% (against 1.3% previously). These…


airbus c220

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

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…