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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…

ECB Eurosystem

European economy 23rd February 2025

ECB says inflation risks increasingly ‘skewed to upside’ and could consider ‘pauses’ in rate cuts

BancaMarch | The ECB could discuss ‘pauses’ in rate cuts. Isabel Schnabel, a member of the ECB’s executive board, has said that the monetary authority could be close to ending the process of rate cuts in the eurozone, concluding that the risks surrounding inflation are increasingly ‘skewed to the upside’. It should be remembered that, since the summer, the ECB has cut the price of money relatively quickly, and everything…

airbus A320

European economy 20th February 2025

Airbus Q4 2024 profit reaches €2,424 million -up 66% year-on-year- 269 commercial aircraft delivered and 171 helicopters contracted

Bankinter | Results meet expectations, ambitious 2025 targets. Some pressure remains on supply chains. Key figures from the results for Q4 2024 versus the company’s own consensus estimate: Sales €24,716 million (up 8% year-on-year) versus €24,678 million estimated. Adjusted EBIT of €2,556 million (up 15.8% year-on-year and €2,601 million expected); reported EBIT of €2,614 million (up 38% year-on-year versus €2,571 million expected) and net income of €2,424 million (up 66%…

AccionaSede

European economy 18th February 2025

Acciona among companies in talks with Masdar to buy assets in Spain, Portugal and France

Norbolsa | Masdar is exploring several M&A operations to grow Saeta (acquired from Brookfield) and turn this group into its major expansion platform in Western Europe. Thus, they are in talks with EDP, Acciona and Totalenergies to buy various assets in Spain, Portugal and France, especially in wind power. Industry sources indicate that these transactions could add another 1,000 MW in operation, which at market price would be around €1billion….

Ferrovial construcción

European economy 29th January 2025

Ferrovial completes sale of 50% stake in AGS for €535 million

Intermoney | Ferrovial (FER) (Hold, PO €35) announced on Tuesday after the market closed that it has completed the sale of its 50% stake in AGS, which groups a number of airports in the UK, to AviAlliance UK Limited for £450 million, around €535 million. Macquarie, owner of the other 50%, has also sold this position for the same amount. Ferrovial confirms that in its Q1 25 results it will…