Norbolsa | Iberdrola (IBE) has reached an agreement with energy company Premier Energy Group to sell its renewable business in Romania for €88 million (80 MW of wind power), thus advancing in its plan to divest non-strategic assets. The company thus takes another step towards focusing on key countries, such as Spain, the United Kingdom, Brazil and the United States.
Link Securities | As released by the European Central Bank (ECB) last Friday, the M3 monetary aggregate grew in March in the Eurozone at an annual rate of 0.9% (0.4% in February), higher than the 0.6% rate expected by FactSet consensus analysts. M3 is considered a good indicator of future economic expansion. In addition, and in March, bank lending to households in the Eurozone rose 0.2% year-on-year compared to a…
Bankinter : The German government has improved its growth estimates for 2024. It revises upwards by one tenth of a percentage point to +0.3% YoY (vs +0.2% prev.) the GDP growth expected this year. Maintains the estimate of +1.0% for 2025. Analysis: Positive news. The German government expects both consumption and industrial activity to perform better than estimated this year. The good evolution of inflation (+2.2% in March), the likely…
Telefónica, through Telefónica Local Services GmbH, announced on Tuesday that it owns 96.85% of the shares of Telefónica Deutschland, following the completion on April 18, 2024 of the tender offer for the public tender offer for the acquisition of Telefónica Deutschland, announced on March 7, 2024. The total number of shares acquired amounts to 74,338,954 shares, representing approximately 2.5% of the share capital and voting rights of Telefónica Deutschland, for…
Norbolsa| Renault increased its sales in 1Q24 thanks to its financing division (up 27.9% year-on-year) and confirms its profit outlook for 2024. The company sold 549,099 units in Q1, 2.6% more than in the same period of 2023, registering a 1.8% increase in Q1 revenues to €11.7 billion, above estimates of €11.49 billion. Renault reiterated its guidance for FY24, with an operating margin target of at least 7.5% and FCF…
Alphavalue / Divacons | The company formed by Iberdrola and bp pulse, Iberdrola|bp pulse, has been awarded a €50.1 million grant to accelerate the deployment of electric recharging infrastructure under the European Commission’s ‘CEF Transport AFIF 2021-2027’ programme, the company said on Thursday. The subsidised project includes the deployment of 1,220 high-power charging points between 2023 and 2026 on the TEN-T transmission network in Spain and Portugal.
ASE Group | Until the 17th, the daily price of the Spanish wholesale market (POOL) in April stood at €5.40/MWh, the lowest since records have been kept for such a long period. Grupo ASE analysts highlight that in almost 50% of the hours the price has been zero or lower. In 84 hours (20.6% of the total) negative prices were recorded (between €0 and €-1/MWh) and the average price between…
Link Securities| In an interview for the US portal CNBC, ECB President Lagarde said yesterday that the central bank is still on track to cut interest rates in the short term, subject to any major shocks. She said they are observing a disinflationary process that is proceeding in line with their expectations. He added that they just need to build a little more confidence in this disinflationary process, but if…
Renta 4 | We show the European sector which includes auto and parts companies. The chart shows how it has overcome a resistance zone at 670 points, which has been in place since 2015 and which had served as an obstacle in several bullish impulses. In this context of free ascent, the relative performance ratio with respect to the Eurostoxx 50 timidly overcomes the downtrend since 2018, showing a better…
CdM| Industrial production rose by 0.8% in the eurozone in February and by 0.7% in the European Union (EU) as a whole compared with the previous month, according to initial estimates from Eurostat, the EU’s statistical office. Compared with the same month last year, the indicator fell by 6.4% in the euro area and by 5.4% in the EU. In detail, and on a month-on-month basis, industrial production in the…