In Europe

airbus A320

Airbus delivers 64 aircraft in March, 129 in Q1, below guidance but better than expected

Morgan Stanley | According to the latest data from Cirium (an aviation data provider), Airbus delivered 64 aircraft in March (up 60% month-on-month and 2% year-on-year), accumulating a total of 129 in Q1 2025, which is below full-year guidance but better than expected, both by Ross Law (analyst) and the consensus (127). In fact, Law believes that the number of deliveries may be higher if we take into account the…


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…


Iberdrola east anglia

Iberdrola to co-invest €5 billion with Masdar in UK’s East Anglia 3 offshore wind farm

Banco Sabadell | According to press reports, Iberdrola is finalising the sale to Masdar (Abu Dhabi) of a 49% stake in the East Anglia 3 offshore wind farm (United Kingdom) for around €2 billion (2% capitalisation, 4% NFD), which will strengthen their alliance to co-invest around €5 000 million in this facility. Assessment: News with little impact. Although yet to be confirmed, it would be part of Iberdrola’s growth strategy…


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…


Reino Unido economia

UK increases defence budget but cuts spending in face of lower growth prospects

BancaMarch | The budget watchdog cut GDP forecasts for 2025 to just +1%, down from an initial +2%. In a scenario of greater economic weakness and rising borrowing costs, the British finance minister, Rachel Reeves, updated the budget in the face of the threat of breaching fiscal rules. The debt markets seemed to welcome the emphasis on fiscal responsibility. The measures involve cuts of up to £14 billion by 2029-2030….


Cereals

Timid progress towards peace in Ukraine would ease maritime traffic of agricultural products and fertilisers

Banca March | This weekend’s negotiations in Riyadh have borne fruit. Ukraine and Russia announced on Tuesday that they had finalised the ceasefire agreement on energy infrastructures, to which a truce in hostilities in the Black Sea has been added, which would allow for the streamlining and securing of greater maritime traffic of agricultural products and fertilisers. However, the terms of the agreement are not entirely clear and the Russian…


coches venta

Car sales in Europe fall 3.1% to 963,540 units year-on-year in February, but rise 11% in Spain

Alphavalue / Divacons | In February 2025, passenger car registrations in Europe fell by 3.1% year-on-year to 963,540 units, with declines in all major markets except Spain, where they grew by 11%. Compared to pre-pandemic levels (February 2019), sales are still 16% lower. In terms of technologies, pure electric vehicles (BEVs) grew by 26% year-on-year to reach a market share of 17.1%. Hybrids were the most popular option (with a…


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…


Budimex Ferrovial

Ferrovial subsidiary Budimex part of consortium designing and building €332-million main line of Rail Baltica in Estonia

Link Securities | Budimex, the Polish subsidiary of Ferrovial (FER), is part of the consortium that will be responsible for designing and building the main line of Rail Baltica in Estonia, which has an estimated total value of €332 million (approximately 1.4 billion zlotys), according to the Bolsamanía portal. The project includes the design and construction of a 58.08 kilometre railway line from Pärnu to the Latvian border, and was…