Top Stories

In Europe

Alemania PIB

In Europe 8th April 2025

Germany’s February trade balance stands at €17.7 billion

Bankinter | February’s Trade Balance and Industrial Production, not yet affected by the new tariff environment. (i) Industrial Production -down 4.0% in February against the 3.6% drop estimated and 1.6% previous. (ii) Trade balance €17.7 billion against €18.5 billion estimated and €16.2 billion previous (revised from €16 billion). Exports up 1.8% month-on-month versus 1.5% estimated and 0.0% previous (revised from 2.5% down). Imports up 0.7% month-on-month against the 0.4% drop…

Retail Eurozone

European economy 8th April 2025

Eurozone retail sales grow less than expected in February: up 0.3% and 0.2% in EU

CdM | Eurozone retail sales grew less than expected in February. Compared to last month, seasonally adjusted retail trade volume increased by 0.3% (against the expected 0.5%) in the eurozone and by 0.2% in the European Union (EU), according to initial estimates from Eurostat, the EU’s statistical office. In January 2025, the volume of retail trade remained stable in the eurozone and grew by 0.1% in the EU. In year-on-year…

Luton

In Europe 7th April 2025

British authorities approve expansion of Luton, 51% owned by Aena, for around €2,880 million

Renta 4 | The relevant authorities have agreed to give the green light to the expansion of capacity at the British airport Luton, in which Aena has a 51% stake and which in 2024 accounted for just over 5% of the group’s EBITDA with 16.7 million passengers. Current capacity is set at 18 million passengers, but it has already been agreed to expand it to 19 million. This new expansion…

eurozona mapa billete 1

In Europe 3rd April 2025

Industrial producer prices up 0.2% in Eurozone and 0.3% in EU in February

CoM | Industrial producer prices rose by 0.2% in the eurozone and by 0.3% in the European Union (EU) in February compared with January 2025, according to first estimates from Eurostat, the statistical office of the European Union, and were above the consensus forecast of 0.1%. In January 2025, prices had risen by 0.7% in the eurozone and 0.8% in the EU, according to Eurostat’s latest revision. In year-on-year terms,…

airbus A320

In Europe 3rd April 2025

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

European economy 2nd April 2025

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

European economy 1st April 2025

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

In Europe 1st April 2025

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

European economy 1st April 2025

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

In Europe 29th March 2025

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….