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green new deal

European economy 28th February 2024

Lagarde points to broader Capital Markets Union and venture capital to promote energy transition

Banca March| Christine Lagarde has spoken out on independence and investment strategies in the eurozone. On the one hand, she stressed the need to be more self-sufficient in energy, by boosting investment in renewable energies such as green hydrogen and a smart grid system. The leader of the ECB provided numbers that would favour greater progress: 620,000 million euros per year in climate objectives and 125,000 million in the digital…

credit

European economy 28th February 2024

Company and household credit frozen in eurozone

Link | The European Central Bank (ECB) published yesterday that in the Eurozone the monetary aggregate M3 rebounded 0.1% year-on-year in January (+0.2% in December), below the 0.3% increase expected by FactSet analysts. In addition, and also according to ECB data, bank lending to households in the euro area increased by 0.3% at a year-on-year rate in January (+0.4% in December) to €6.87 billion, slightly less than the 0.4% increase…

iberdrola junta sanchez galan

European economy 27th February 2024

Utilities have lower positioning in both European and international funds; Iberdrola one of 35 companies with lowest position in Europe

Morgan Stanley| The SX6P has had the worst start in relative terms since 1986 (-10% versus SXXP YTD) as a result of the fall in energy prices. Last week our strategy team published an update of the European sector positioning tracker and one of the conclusions is that Utilities is one of the sectors with the lowest positioning by both European and International Funds. ENEL, National Grid and Iberdrola are…

ECB bonds

European economy 23rd February 2024

ECB records first financial statement loss since 2004: €1.3 billion to be offset against future profits

Banca March: The monetary authority presented total losses of €7.9 billion in 2023, which, offset by the €6.6 billion of accumulated provisions in recent years, have resulted in this loss of €1.3 billion in profits. The reason for these results is due to the rise in interest rates, which has increased the payment to the national central banks. In fact, the net interest expense has risen from €900 million in…

Talgo

European economy 22nd February 2024

Spanish Government examines Magyar Vagon’s takeover bid for Talgo to ensure it retains strategic control over the company

Renta 4| The Minister of Industry and Transport has confirmed that they consider Talgo to be strategic for Spain and are therefore studying in detail the conditions of Magyar Vagon’s takeover bid for the company. In this sense, they commented that this does not mean that the anti-takeover shield will be activated, but rather that the operation will be approved as long as there is full conviction that strategic control…

fcc edificio

European economy 21st February 2024

FCC to finally build €1.46-billion tunnel near Stonehenge

Link Securities | FCC (FCC) will be able to build the tunnel near Stonehenge (United Kingdom), after the British judiciary has stopped the attempts of several opposing entities to carry out these works, understanding that they posed a threat to the Neolithic remains, according to the newspaper Expansión. In May 2022, the Spanish construction company was awarded, together with the Italian company WeBuild and the German company BeMo Tunnelling, the…

coches aparcamiento

In Europe 20th February 2024

New car sales up 11.5% 1,015k units in Eurozone in January

Bankinter : New car sales rose strongly in January and were up 11.5% year-on-year to 1,015k units in January against a 3.3% drop previously. Assessment: Good news for stock markets, as they show an improvement in demand and should support industrial activity. Brands such as Tesla, up 86.3%, Nissan, 38%, and BMW, 29.7%, stand out positively, while sales of Mercedes-Benz, down 10.6%, Ford, 6.1%, and Renault, 2.1%, all fall.

telefonica gran via logo nuevo

European economy 20th February 2024

Telefónica to create new company to unbundle UK landline network, 100% controlled by Virgin Media O2

Renta 4| Telefónica and its UK partner Virgin Media have announced the creation of a subsidiary that aims to spin off fixed line assets and accelerate the rollout of broadband in the UK. Virgin Media O2 (VMO2) has a deployment of 16.7 million Real Estate Units and aims to reach 23 million by 2026. The new company (netco) would be 100% controlled by Virgin Media O2, although this new structure…

Sacyr2

European economy 19th February 2024

Eurolink consortium, 18.5% owned by Sacyr, get green light for Messina bridge project to be carried out

Banco Sabadell: According to press reports, the Board of Directors of the public company Stretto di Messina has approved the update of the Messina Bridge construction project, which will link the island of Sicily with the Italian mainland via a bridge of almost 4 km. Italy will pay €12,000 million to Eurolink, a consortium in which SCYR holds an 18.5% stake. Work is due to start this summer and be…

telefonica tech

European economy 15th February 2024

Telefónica Tech teams up with China’s Ehang to boost urban air mobility in Europe and LatAm

Alphavalue / Divacons| Telefónica Tech has teamed up with Chinese company EHang, which produces electric aerial vehicles with vertical take-off and landing capabilities for transporting passengers and cargo without a pilot, to boost urban air mobility in Europe and Latin America, the operator said in a statement. Telefónica Tech will contribute its 5G connectivity and private network capabilities to the project to enhance the “safety and efficiency” of this type…