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ING

European economy 26th December 2023

ING to stop funding oil and gas extraction by 2040 and aims to triple funding for renewables by 2025

Alphavalue / Divacons| The Dutch financial institution announced new targets in its energy transition financing strategy. The bank will stop financing oil and gas extraction by 2040 and aims to triple financing for renewables by 2025. This is a step forward from the previous policy adopted by the bank last year, which sought to end financing for new oil and gas fields and restrict financing to any related infrastructure. On…

eurozona mapa billete 1

European economy 20th December 2023

Eurozone inflation falls to 2.4% in November, lowest since July 2021

CdM| Eurozone inflation continues to moderate and stood at 2.4% in November, down from 2.9% in October, its lowest level since July 2021, according to final data released by Eurostat, the European Union (EU) statistics office. In this way, the evolution of prices in the euro area is gradually approaching the 2% target set by the European Central Bank (ECB), although the president of the body, Christine Lagarde, has warned…

espana europa billete

European economy 19th December 2023

2023 issuance reaches €860 billion, second all-time high

Issuance in 2023 reached €860 billion, marking the second highest annual issuance ever, behind only €869 billion in 2019. By country, French companies lead this year’s primary with €75 billion, followed by German (€66 billion), UK (€52 billion) and US (€45 billion) companies. This year’s financial issuance of €499 billion exceeds the €490 billion for the whole of 2022 and is above all annual issuance since 2008. Within financials, the…

Heathrow Ferrovial 777x400 1

European economy 18th December 2023

Ferrovial considers divesting AGS, holding company for Glasgow, Aberdeen and Southampton airports, valued at €550 million

Intermoney | The Spanish company (Hold, PO29) is considering selling its 50% stake in AGS, the holding company for Glasgow, Aberdeen and Southampton airports. The remaining 50% is held by Macquarie, according to Expansión. AGS is currently in the process of refinancing its debt, some £930 million, after which the Spanish construction company would carry out the sale. Expansión’s sources indicate a valuation for AGS of less than £1,000 million…

Alemania PIB

European economy 15th December 2023

Germany tightens belt with budget cuts of €17 billion

Banca March : Germany opts to tighten its belt. The German country has managed to agree on significant budget cuts of €17 billion in the wake of the funding gap, as the transfer of unused pandemic funds for climate purposes has been declared illegal. Thus, adjustments will be made in construction subsidies, transport spending, as well as in green energy and industry support. Climate funds will reduce spending by €12…

Telefónica Alemania nuevo

European economy 14th December 2023

Telefónica Deutschland recommends acceptance of Telefónica’s voluntary takeover bid for 28.19% of its share capital

Link Securities| In connection with the publication of the relevant offer document relating to the voluntary partial takeover bid launched by Telefónica – through Telefónica Local Services GmbH – for shares of Telefónica Deutschland Holding AG, the company informs that the Management Board and Supervisory Board of Telefónica Deutschland have issued the relevant joint report on the Offer. According to the report, the Management Board and the Supervisory Board of…

Talgo

European economy 13th December 2023

Talgo competes with CRRC for Bulgaria’s largest ever train order

Link Securities| Talgo (TLGO) and the Chinese giant CRRC, the world’s largest train manufacturer, are vying for a €613-million order to build 20 medium-distance electric units for Bulgaria’s railways, the business and finance daily Expansión reports on Tuesday. It is the largest train order ever placed by the country and is financed by the European Union’s NextGen funds. According to the information provided to the Bulgarian Ministry of Transport, CRRC…

alemania berlin ampelmann

European economy 12th December 2023

German investment confidence rises to 12.8 in December, up three points; eurozone up 10 points to 23.0

CdM| German investor confidence improved again in December, according to the Leibniz Centre for European Economic Research (ZEW) indicator, which rose to 12.8 points from 9.8 in the previous month, its best reading since last March in view of the medium-term expectation of a change in monetary policy by the European Central Bank (ECB). German investors’ assessment of Germany’s current economic situation also improved in December, with the corresponding indicator…

Airbus 320

European economy 7th December 2023

Airbus aircraft deliveries up to 623 so far this year, 13% more than in 2022, 113 new orders

Banc Sabadell | Airbus (AIR) reported 64 aircraft deliveries during November (against 68 in November 2022 and 71 in October 2023) bringing the total in 2023 to 623 (against 550 in November 2022; up 13%). On the other hand, a total of 113 new orders and 52 cancellations were recorded during the month. Considering cancellations for the year as a whole, net orders until November 2023 stand at 1,395 (against…

eurozone.a tope

European economy 1st December 2023

Relief for ECB as eurozone inflation falls to 2.4% in November, lowest since July 2021, and close to target

Ulrike Kastens (DWS) | Eurozone inflation fell surprisingly in November. The increase in the cost of living was only 2.4%, down from 2.9% in October, its lowest reading since July 2021, according to Eurostat’s flash estimate. Across Europe, falling oil prices and easing gas and electricity prices had a notable impact. The energy price component fell by 11.5%. Food prices, on the other hand, hardly eased the situation. In this…