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…
Norbolsa| A Siemens Gamesa wind turbine loses a 22-tonne blade in Norway. The company added that no one was injured in the incident. It is a blade that is part of the 4.X platform. Siemens Gamesa, owned by Siemens Energy, warned in 2023 of quality problems at its onshore unit, most of them related to certain rotor blades and main bearings on its two newest wind turbine platforms, the 4.
Link Securities | The company held its first AGM outside Spain yesterday, in Amsterdam, another step towards meeting its real goal of listing on the Nasdaq this year. “The market has proved us right,” emphasised the multinational’s chairman, Rafael del Pino, assessing the company’s historic turnaround. When we took the decision to list in the Netherlands, Ferrovial was ranked 14th on the Ibex-35; today we are in eighth place,” said…
Renta 4| According to press reports, CAF has been selected along with other companies to renew the signalling and safety of the UK rail network. The selected companies are CAF together with the British company, AtkinsRealis, Alstom, Hitachi and Siemens. The total value of the contracts to be awarded amounts to around €4.7 billion over the next 10 years and will be progressively entrusted to the selected companies. Assessment: This…
Alphavalue / Divacons| The recent phenomenon of negative electricity prices in several European countries reflects a complex combination of factors, mainly driven by the law of supply and demand and the increasing prominence of renewable energy sources. Countries such as Germany, Finland, Belgium and France frequently experience a surplus in electricity production, largely due to a combination of favourable weather conditions and an increase in renewable energy capacity. This surplus,…
BancaMarch: The European Union ends the winter season with record levels of gas storage. Gas stocks in March recorded values of up to 58.72% of storage capacity, 3 p.p. higher than the previous peak, which took place last year. The energy crisis is behind us. Despite the reduction in Russian gas supplies, the mild winter and the targets set by the EU to reduce gas use have contributed to this…
CdM: According to a preliminary estimate by Eurostat, the statistical office of the European Union, annual inflation in the euro area is expected to be 2.4% in March, down from 2.6% in February. Regarding the main components of eurozone inflation, services are expected to register the highest annual rate in March (4%, stable compared to February), followed by food, alcohol and tobacco (2.7%, compared to 3.9% in February), non-energy industrial…
Banc Sabadell: According to Bloomberg, Airbus (AIR) is reported to have delivered 65 aircraft in March (against 49 in February 2024 and 61 in March 2023), bringing total 1Q24 deliveries to c. 144 aircraft (against 127 in 1Q23, an increase of 13%). Assessment: Bloomberg’s anticipated figure (which is usually very close to the final) is positive, as it would indicate that the company continues to show some sequential improvement in…
Link Securities| Telefónica (TEF) and its subsidiary VMO2, which it controls 50/50 with Liberty, are facing the reopening of proceedings in the United Kingdom for possible anti-competitive practices, according to Telefónica on Wednesday. Also involved in the case are Everything Everywhere (EE, now a subsidiary of British Telecom (BT-GB)), Deutsche Telekom (DTE-DE), Vodafone (VOD-GB) and Orange (ORA-FR). The administrators of Phones4U, a company that went into receivership almost a decade…
INDITEX (ITX) returns to Ukraine after two years of closure as a result of the war with the opening of online shops from today, 2 April. To which will be added tomorrow the return to activity of around 20 shops of its seven brands in the Kiev area, to be followed later by those in the Lviv area. Inditex’s objective is to open around fifty of the 80 shops it…