Bankinter | The ECB’s Wage Tracker shows an expected wage increase of 1.7% for the first half of 2026 against 2.1% in the second half of 2025 and 4.3% in the first half of 2025. Analysis team’s view: Good news for inflation in Europe. The ECB’s Wage Tracker is a tool developed by the ECB and the national central banks of the Eurosystem to monitor wage pressures in the euro…
Link Securities | The index, which measures the perception of the German economy by large institutional investors and analysts, compiled by the ZEW institute, rose in September to 37.3 points from 34.7 points in August, exceeding the 27.6 points expected by FactSet consensus analysts. Meanwhile, the index that assesses this group’s perception of the current situation of the German economy fell in September to -76.4 points from -68.6 points in…
Bankinter | The rating agency Fitch has upgraded Portugal’s rating from ‘A-’ to “A”, with a ‘stable’ outlook, highlighting fiscal consolidation, strong debt reduction and improvements in the external position. Fitch noted that public debt fell from 134.1% of GDP in 2020 to 96.4% in the first quarter of 2025, while public accounts continue to stand out with a projected surplus in 2025 (0.1% of GDP) and moderate deficits in…
Bankinter | Political crisis as Bayrou’s government falls. He loses the vote of confidence in the National Assembly by 194 votes in favour and 364 against. This outcome forces President Macron to dismiss Bayrou and seek a new prime minister, the fourth in less than a year, or call elections. His comment that he will appoint a new prime minister within a few days reduces the likelihood of new elections….
Bankinter | Eurozone CPI was 2.1% year-on-year in August, while core CPI remained at 2.3% for the fourth consecutive month. The data was in line with expectations and reflects inflation virtually on target. Analysis team’s view: Although it rose by one tenth of a percentage point compared to the previous month, the important thing is that inflation has been stable for six months at levels close to the ECB’s target…
Severe material and social deprivation continues to affect a significant portion of the Spanish population and keeps Spain in a comparatively unfavorable position within the European Union. The improvement seen between 2023 and 2024, when the percentage of the Spanish population in this situation dropped from 9% (the highest figure since this indicator has been measured) to 8.3%, is modest in both a temporal and comparative perspective, according to Eurostat…
Bankinter | Car sales increased in July by 7.4% (year-on-year) compared to a drop of 7.3% in June. For the year as a whole, sales fell by 0.7%. Of particular note is the drop in sales of combustion vehicles (15.2% diesel and 12.0% petrol), while electric vehicles led the way (electric up by 39.1%, non-plug-in hybrids by 14.3% and plug-in hybrids by 56.9%). Analysis team’s view: Slightly positive news reflecting…
Link Securities | The company has begun adapting Building D at its facilities in Tablada (Seville) to support the Eurodrone programme, according to a report today in the newspaper elEconomista.es. Airbus had selected its plants in Sevilla and Cádiz for this project, in which Germany, France, Italy and Spain are participating alongside the company itself, Dassault Aviation and Leonardo (LDO-IT), and which plans to build 20 systems with three drones…
Intermoney | Not everything in Germany is a problem of US commercial aggression. According to the Bundesbank, the German economy could have grown by 50% more between 2021 and 2024 if its export industries had not been held back by problems such as labour shortages and bureaucracy. The central bank’s simulation suggests that German GDP would have expanded by 2.4 percentage points more during the period if exports had kept…
Alphavalue / Divacons | The Spanish biopharmaceutical company has received authorisation from the European Medicines Agency (EMA) to initiate a Phase Ib clinical trial of iadademstat in sickle cell anaemia (SCA). This is the first clinical trial to investigate iadademstat in a non-malignant haematological indication. The study, called “Restore”, will be conducted at several centres in Spain and will recruit 40 adult patients. The main objectives of the trial are…