Top Stories

In Europe

exportaciones comercio viajes 1

European economy, In Europe, Relevant News Item 20th August 2024

Eurozone trade surplus rises to €22.3 billion in June

Link Securities | According to Eurostat data, the Eurozone’s trade surplus rose to €22.3 billion in June, exceeding analysts’ consensus forecast of €13.3 billion and also surpassing the €18 billion surplus in the same month last year. Imports decreased by 8.6% year-on-year to €214 billion, mainly due to lower purchases of manufactured goods (-11.0%); transport equipment and machinery (-11.0%); mineral fuels, lubricants and related products (-9.1%); and chemicals (-6.8%). Meanwhile,…

RheinMetall

Companies, In Europe, Markets 19th August 2024

Rheinmetall continues to offer an attractive entry point: Overweight, P. O. €666/share

Morgan Stanley | The company has announced the acquisition of Loc Performance (US vehicle supplier) for an EV of $950m. With less than 5% of sales coming from the US, Marie-Ange Riggio (analyst) sees the move as a strategic expansion to add exposure to a larger and more stable market, thus reinforcing the company’s long-term investment thesis, as it would increase production capacity in the US, opening the door to…

EON

Companies, In Europe, Markets 19th August 2024

E.ON maintains guidance for this year and 2028 Strategic Plan: network investments to drive medium-term growth

Bankinter: E.ON maintains guidance for the year and 2028 targets. Investments in networks will drive medium-term growth. Buy. Key figures compared to consensus: Adjusted EBITDA €4,868m (-14%) versus €4,856m est; Adjusted EBITDA €1,754m (-24%) versus €1,790m est; Net Debt €40,829m versus €37,691m in December 2023. The management team reiterates 2024 guidance and 2028 targets. Opinion of Bankinter’s analysis team: Results meet estimates and the management team reiterates the guidance for…

eurozone

European economy, In Europe 16th August 2024

Eurozone maintains pace of expansion: GDP grows 0.3% in second quarter

CdM | The Eurozone maintained the pace of expansion in the second quarter, when gross domestic product (GDP) grew by 0.3% over the previous three months, according to the second reading of the data published by Eurostat, the statistical office of the European Union (EU), which coincides with the first estimate. Compared with the same quarter of the previous year, GDP increased by 0.6% in the euro area following growth…

alemania reichstang

European economy, In Europe 12th August 2024

Germany’s inflation rises to 2.3%: falling energy prices fail to offset higher services prices

CdM: Germany’s inflation rose by one tenth of a percentage point in July to 2.3%, Destatis, the Federal Statistical Office, has confirmed, blaming the rise on higher services prices. “The fall in energy prices is holding down inflation,” but “on the other hand, we continue to see above-average price increases in services,” said the agency’s president, Ruth Brand. Specifically, prices for services were 3.9% higher than in the same month…

alemania germany ZEW

European economy, In Europe 6th August 2024

German economy weak, but households optimistic: better income prospects and greater purchasing power

Norbolsa | Germany’s economy may be weak, but households are optimistic. Sentiment is close to the level of February 2022 before the collapse brought about by the war in Ukraine. That mismatch was in evidence on Tuesday when it was revealed that the country was the only major currency area member to suffer a fall in output in Q2. July survey data showed another improvement in German consumer confidence ,…

Brexit bandera 777x400

European politics, In Europe 5th August 2024

EU calls on Labour government to deliver on Brexit deal

Banca March | Following the arrival in power of Labour’s Keir Starmer, the EU is once again demanding that the United Kingdom fully implement the Brexit agreement for Northern Ireland, as well as respecting the rights of EU citizens with a view to improving relations with its European partners. Thus, the EU’s list of demands to the UK includes the implementation of the agreement designed for Northern Ireland – permanence…

The Eurozone trap

European economy, In Europe 1st August 2024

Eurozone GDP rises to 0.6% year-on-year in 2Q24, beating forecast, on resilience of France, Spain and Italy

Banca March: In the eurozone, GDP growth in the second quarter beat forecasts, both in quarterly and year-on-year terms. This resilience is based on the fact that three of the four main economies – France, Spain and Italy – have delivered better than expected figures, offsetting the unexpected contraction in Germany. Aggregate GDP variation in the quarter remained at +0.3%, the same as in the previous quarter, but better than…

alemania 2020

European economy 29th July 2024

German business climate IFO disappoints in July, weighed down by both expectations and current situation

Bankinter | The German Business Climate IFO disappointed in July, weighed down by both Expectations and the Current Situation. The IFO Business Climate index fell in July to 87.0 points from 88.6 previously and 89.0 expected. By components, both the Current Situation and Expectations showed a non-negligible deterioration. The Current Situation stood at 87.1 vs. 88.5 esp. vs. 88.3 previously and Expectations 86.9 vs. 89.3 vs. 88.8. The indicator remains…

ercros

European economy 28th July 2024

26.86% of Ercros shareholders reject takeover bids by Portugal’s Bondalti and Italy’s Esseco

Link Securities | As reported yesterday by the Bolsamania.com portal, around 150 Ercros shareholders holding a total of 24,554,822 shares in the company, representing 26.86% of the share capital, have expressed their rejection of the takeover bids launched by Portugal’s Bondalti for 100% of the company on 5 March and by Italy’s Esseco on 28 June. In a statement sent by Ercros itself to the Spanish National Securities Market Commission…