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BBVA Italia ed

In Europe 24th October 2024

BBVA: 580,000 customers in Italy in retail segment after entering market in 2021, closing in on 600,000 target by end 2024

Link Securities | The Spanish bank has already attracted 580,000 customers in Italy in the three years it has been operating in the country’s retail segment, on its way to achieving the target of 600,000 customers it had set itself for the whole of 2024, Expansión newspaper reported yesterday. The bank arrived in Italy in 2021 with a digital model and a five-year growth plan that set a target of…

telefonica alemania2

In Europe 24th October 2024

Telefónica, through ALV-DE, closes deal with Infracapital to acquire Infrafibre Germany

Link Securities | Telefónica (TEF), through its 50/50 joint venture with Allianz (ALV-DE) for the deployment of fibre optics in Germany, has closed a deal with Infracapital, the infrastructure investment arm of British asset manager M&G, for the acquisition of Infrafibre Germany (IFG), which specialises in rural areas, according to Expansión on Wednesday. As part of the deal, which market sources value at just under €100 million, the Telefónica and…

sacyr 4 588x353

In Europe 22nd October 2024

Sacyr looking at opportunities in Czechia as part of plan to expand markets selectively

Link Securities | Sacyr (SCYR) is looking to selectively expand the markets in which it operates and has turned its attention to the programme of transport infrastructure concessions through public-private partnership models that the Government of the Czech Republic has launched, according to elEconomista. The Spanish company is analysing the opportunities offered by the country both for the development of new motorways and the future high-speed railway line, with investments…

italy1

In Europe 21st October 2024

Fitch maintains rating at BBB and upgrades Italy’s debt outlook from Stable to Positive

Bankinter : Fitch maintains Italy’s rating and upgrades its debt outlook. The credit rating agency Fitch has maintained the debt rating at BBB and upgraded the outlook to Positive from Stable. Fitch explains this outlook upgrade by recent progress on the fiscal front and the government’s commitment to EU fiscal rules. These elements point to a reduction in medium-term financing risks stemming from the country’s high debt levels. Opinion of…

eurozona superavit comercial

In Europe 21st October 2024

Eurozone August trade balance disappoints: surplus falls sharply to €11.0 billion from €17.6 billion

Intermoney | Eurozone trade balance figures for August disappointed as the trade surplus narrowed quite a bit, to €11bn (vs. an estimated €17.6bn). At the same time, July’s data was revised down to a surplus of €13.7 billion. The euro area’s surplus in trade in goods with the rest of the world also narrowed, mainly due to lower exports of machinery and vehicles. Trade tensions were more than evident with…

iberdrola offshore

In Europe 18th October 2024

Iberdrola and Masdar complete installation of wind turbines for Baltic Eagle offshore wind farm

Alphavalue/DIVACONS | Iberdrola (IBE) and Masdar, the Abu Dhabi Emirate’s renewable energy group, have completed the installation of wind turbines at the Baltic Eagle offshore wind farm, the two companies announced on Wednesday. A total of 50 turbines with a capacity of 476 MW have been installed. This project is part of the strategic agreement between the two companies. When fully operational, Baltic Eagle, which is already connected to the…

Alemania industria

In Europe 18th October 2024

German industrial production falls by 2.7% in August compared with 3.8% drop estimated

Banca March: In Germany, industrial production surprised on the upside in August. Specifically, the indicator climbed 2.9% in the monthly comparison, the biggest advance since October 2021. On a year-on-year basis, German industrial production fell by 2.7% compared with an estimated 3.8% decline. Still in Germany, analysts’ confidence, measured by the ZEW index, gave mixed signals. On the one hand, the expectations component surprised positively at 13.1 versus the 10…

ECB night

In Europe 17th October 2024

ECB to cut rates

Ben Nichols, Managing Director at RAW Capital Partners | The European Central Bank (ECB) has been signalling for several weeks that another rate cut was imminent, so this morning’s announcement is unlikely to trigger a significant market reaction. With Eurozone inflation falling to 1.8% in September, policymakers appear optimistic about the trajectory of the European economy, though inflation may rise again in Q4 due to base effects from last year’s…

IAG nuevita

In Europe 16th October 2024

IAG: British Airways readjusts long-haul capacity due to delays in delivery of Rolls-Royce engines and parts

British Airways (BA; 52% of IAG 2024 BS(e) capacity) is readjusting its long-haul capacity schedule in the face of delays in the delivery of Rolls-Royce engines and parts, particularly the Trent 1000 engines installed in B-787s. They do not expect the problem to be solved in the short term. In any case, the company has said it can offer the vast majority of those affected a same-day flight with British…

scottish power reuters

In Europe 16th October 2024

Iberdrola doubles UK investment plan to €28bn on back of strong growth prospects for energy demand

Banco Sabadell: According to press reports, the company will revise upwards its investment forecasts in the UK until 2028, to £24,000 million (approximately €28,000 million) compared to the €14,000 million planned so far. This update is due to the significant growth prospects for energy demand in the UK and energy policies aimed at electrification; two thirds of the investment will be in networks. Assessment: Positive news with limited impact, highlighting…