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caf cartel fachada

In Europe 23rd December 2024

CAF to supply 22 trains to French operator SNCF Voyageurs for over €400 million

Link Securities | French operator SNCF Voyageurs has once again entrusted CAF (CAF) with the supply of 22 Intercités trains, known as Oxygène, which will serve the Bordeaux-Marseille line, in addition to the 28 trains contracted in 2019 for the Paris-Limoges-Toulouse and Paris-Clermont-Ferrand lines. The initial contract for Oxygène trains provided for the option to extend the supply by up to 75 additional trains. The new agreement signed for 22…

ECB night

In Europe 19th December 2024

ECB highlights strength of European banks with CET1 capital ratio of 15.8%, slightly increases capital requirements by 10 b.p. by 2025

Bankinter: The European Central Bank highlights the solidity of banks and slightly increases capital requirements for 2025. The ECB gives a positive assessment of the sector’s liquidity and solvency position with a CET1 capital ratio of ~15.8% and leverage of 5.8% (capital/total assets). By 2025 it is to increase capital requirements by 10 bps to 1.2% of RWAs (Risk Weighted Assets). Our view: We have a positive assessment of the…

defensa

In Europe 19th December 2024

Europe needs defence investments of €500 billion over next decade just to cover air defence system

Norbolsa: Europe-defence: the debate continues on how to raise defence spending in Europe. The pressure of war, Putin’s threat and Trump’s pressure to raise the contribution to NATO are heating up the debate, but it remains deadlocked on how to do it: whether from national budgets, jointly from Europe or by creating a new funding vehicle. It is estimated that Europe requires investments of €500 billion over the next decade,…

empleo eurozona

European economy 17th December 2024

Eurozone labour costs slow down in Q3, growing 4.6% year-on-year vs. 5.2% previously

Bankinter : Labour Costs rebounded 4.6% in Q3 against 5.2% previously (revised up from 4.7%). Wages were up 4.4% versus 4.9% previously (revised up from 4.5%). Our view: Wage pressures remain elevated and will hamper the ECB’s rate cut process in upcoming meetings. This is especially so as they will be coupled with a more hawkish Fed as a result of the pick-up in inflation that will be triggered by…

indra edificio 2

In Europe 16th December 2024

Eurocontrol successfully implements first digital air traffic management platform using Indra technology

Alphavalue/DIVACONS | Eurocontrol successfully implemented, in collaboration with ATOS and Microsoft, the first digital platform for air traffic management in the public cloud. This platform uses digital technology developed by Indra (IDR) and is part of the Integrated Nerwork Management (iNM) programme, driving the digitisation of the systems that manage the European aviation network. Indra: Add, Target Price €20.5/share.

Solaris CAF

In Europe 13th December 2024

CAF subsidiary Solaris wins two contracts to supply 91 electric buses in Sweden and Belgium for €80 million

Link Securities | Solaris, a division of CAF, has been awarded two contracts for 91 electric buses in Sweden and Belgium for a combined value of more than €80 million, thus continuing to expand its market in Europe, according to elEconomista.es. Specifically, Solaris has signed a contract with Keolis Sverige, one of Sweden’s largest transport operators, for the supply of 46 electric buses. The order includes 19 Urbino 12 electric…

Corticeira Amorim

In Europe 12th December 2024

Corticeira Amorim sells business in Sweden and Denmark to Salix group for €23.7m

Renta 4: The company has announced the sale of its cork flooring business in Sweden and Denmark to the Salix group for a total of €23.7 million. This divestment is part of its strategy to reorganise and optimise the flooring, composites and insulation businesses under a single unit called Amorim Cork Solutions, announced in the first half of the year. Timberman Denmark A/S and Amorim Cork Sweden AB will continue…

indra edificio

In Europe 12th December 2024

Indra, one of two finalists in tender for Transport for London’s payment system, valued at around €1.8 billion

Link Securities | The Spanish technology group is bidding for London’s public transport payment system, valued at £1.5 billion (around €1.8 billion), an amount that does not include VAT of 20%, Expansión newspaper reports today. Indra is one of the two finalists in the bidding process carried out by the public body Transport for London (TfL) for the so-called Proteus Contract. Its rival is Cubic Transportation Systems, the US firm…

iberdrola renovables

In Europe 10th December 2024

Iberdrola obtains production licence for construction of Portugal’s largest wind farm, with around €350-million investment

Link Securities | Iberdrola (IBE) has obtained the production licence from Portugal’s Directorate General of Energy and Geology (DGEG), marking another step towards the construction of Portugal’s largest wind farm, Bolsamanía reported on Monday. The project, located in the districts of Vila Real and Braga in the north of the country, which combines wind and hydro power, has a total investment of around €350 million. With an installed capacity of…

euro espana

In Europe 9th December 2024

Eurozone GDP grows 0.4% in Q3 2024

The Gross Domestic Product (GDP) of the Eurozone expanded by 0.4% in Q3 2024 compared to the previous quarter, in line with its preliminary reading and marking its highest quarterly growth rate in two years, following the 0.2% increase in Q2 2024. Household consumption (+0.7%), the rise in gross fixed capital formation (+2.0%), and inventories were the largest contributors, with public spending also recording an increase (+0.5%). On the other…