In Europe

alemania reichstang

Germany to back draft 2026 budget that includes record €126.7 billion investment and €174.3 billion loan

Norbolsa | The German government will back a draft budget for 2026 on Wednesday that includes record investment of €126.7 billion and a loan of €174.3 billion as part of its fiscal bazooka for infrastructure and defence. The draft budget for 2026, with total spending of €520.5 billion, includes €126.7 billion in investments aimed at modernising the country (10% above 2025 and 70% above 2024).


euros recurso

M3 money supply in Eurozone expands at annual rate of 3.3% in June, compared to 3.9% in May

Link Securities | The European Central Bank (ECB) has reported that the M3 money supply expanded in the Eurozone at an annual rate of 3.3% in June (3.9% in May), slightly less than the 3.5% expected by FactSet consensus analysts. In addition, the ECB noted that bank loans to households in the Eurozone increased by 2.2% year-on-year in June (2.0% in May), representing the fastest pace of growth for this…


coches aparcamiento

Car sales in Europe fall 7.3% year-on-year in June: decline in combustion vehicles, EV sales up

Bankinter | Car sales fell by 7.3% year-on-year in June. This brings the cumulative decline for the year to 1.9% year-on-year, with 5.58 million units sold. In June, the decline in combustion vehicles (34.1% diesel and 25.4% petrol) stood out, while electric vehicles led the way (electric up 7.8%, non-plug-in hybrids 6.1% and plug-in hybrids 41.6%). Bankinter analysis team’s view: The decline in registrations gained momentum in June. The sector…


Europa aranceles EEUU 1

Some EU members open to higher US tariffs if enough products exempted from them

Link Securities | According to the financial website Barron’s, citing an article by Bloomberg, some European Union (EU) member states are open to higher tariffs from the Trump administration if enough products are exempted from them. On the other hand, some member states want to activate their anti-coercion instrument (ACI), which gives EU officials the power to impose new tariffs on US technology companies, set specific limits on US investments…


ursula von der leyen energia

EU proposes strengthening bloc’s independence with €2-trillion budget for 2028-2034

Norbolsa | The European Commission announced on Thursday a budget proposal of €2 trillion for the period 2028-2034, which seeks to strengthen economic competitiveness, double investment in innovation and increase defence spending fivefold. Von der Leyen defines it as a budget to finance the new era, in line with European ambition, which faces challenges and strengthens the bloc’s independence. Most of the funds come from member state contributions, but the…


bbva sabadell

EC opens infringement proceedings against Spain over conditions imposed by government on BBVA Sabadell takeover bid

Alphavalue/DIVACONS | The European Commission announced on Thursday that it was opening infringement proceedings against Spain over the conditions imposed by the government on BBVA’s takeover bid for Banco Sabadell (SAB). Brussels specifically objects to the discretionary powers granted to the government by Spanish law to block such transactions. The EU executive considers that the scope of these powers exceeds the scope of the general interest. BBVA: Buy, Target Price…


exports

Eurozone exports to US fall slightly to €42.2 billion but €17.2 billion surplus recorded

Intermoney | Eurozone exports to the US fell for the second consecutive month in May, following a boom in March when a record figure of €66.2 billion was recorded. but remained above the previous year’s levels (up 5.6% year-on-year), a sign of resilience that will be tested in the coming months as tariffs become a consolidated reality in transatlantic trade. Exports to the US from the area fell slightly to…


Francia Bayrou

France proposes €43.8 billion adjustment to 2026 budget to reduce deficit to -3% by 2029

Bankinter | Prime Minister Bayrou proposes a €43.8 billion adjustment to the 2026 budget. The aim is to reduce the deficit, which stands at -5.8% in 2024 (as opposed to -3.1% in the EMU, -2.8% in Germany, -3.4% in Italy and -3.2% in Spain) to -4.6% in 2026, with a commitment to reach -3% in 2029. The government’s projections point to a figure of -5.4% in 2025. The measures presented…


alemania berlin ampelmann

German Senate definitively approves €46 billion tax exemption package

Bankinter | The German Senate (Bundesrat) has definitively approved the €46 billion tax exemption package (approximately 1.1% of GDP). The stimulus measures include a reduction in corporate tax of 1% per year from 2028 (from the current 15% to 10%, not including the extra local tax, which varies between 14% and 17%) and deductions for the purchase of new machinery and other equipment. Bankinter analysis team’s view: Good news. These…


CAF trolleys

CAF consolidates presence in France with two new contracts in consortium with Alstom for €300 million total

Intermoney | The company will manufacture trains and trams for France after being awarded two new contracts worth a total of €300 million. In consortium with Alstom, the Basque group will supply 14 trains from the Coradia Polyvalent platform to the Burgundy region. The shared contract stems from agreements between the two companies following CAF’s purchase of Alstom’s Reichshoffen plant three years ago, after the French company was forced to…