In Europe

empleo eurozona

Eurozone labour costs slow down in Q3, growing 4.6% year-on-year vs. 5.2% previously

Bankinter : Labour Costs rebounded 4.6% in Q3 against 5.2% previously (revised up from 4.7%). Wages were up 4.4% versus 4.9% previously (revised up from 4.5%). Our view: Wage pressures remain elevated and will hamper the ECB’s rate cut process in upcoming meetings. This is especially so as they will be coupled with a more hawkish Fed as a result of the pick-up in inflation that will be triggered by…


indra edificio 2

Eurocontrol successfully implements first digital air traffic management platform using Indra technology

Alphavalue/DIVACONS | Eurocontrol successfully implemented, in collaboration with ATOS and Microsoft, the first digital platform for air traffic management in the public cloud. This platform uses digital technology developed by Indra (IDR) and is part of the Integrated Nerwork Management (iNM) programme, driving the digitisation of the systems that manage the European aviation network. Indra: Add, Target Price €20.5/share.


Solaris CAF

CAF subsidiary Solaris wins two contracts to supply 91 electric buses in Sweden and Belgium for €80 million

Link Securities | Solaris, a division of CAF, has been awarded two contracts for 91 electric buses in Sweden and Belgium for a combined value of more than €80 million, thus continuing to expand its market in Europe, according to elEconomista.es. Specifically, Solaris has signed a contract with Keolis Sverige, one of Sweden’s largest transport operators, for the supply of 46 electric buses. The order includes 19 Urbino 12 electric…


Corticeira Amorim

Corticeira Amorim sells business in Sweden and Denmark to Salix group for €23.7m

Renta 4: The company has announced the sale of its cork flooring business in Sweden and Denmark to the Salix group for a total of €23.7 million. This divestment is part of its strategy to reorganise and optimise the flooring, composites and insulation businesses under a single unit called Amorim Cork Solutions, announced in the first half of the year. Timberman Denmark A/S and Amorim Cork Sweden AB will continue…


indra edificio

Indra, one of two finalists in tender for Transport for London’s payment system, valued at around €1.8 billion

Link Securities | The Spanish technology group is bidding for London’s public transport payment system, valued at £1.5 billion (around €1.8 billion), an amount that does not include VAT of 20%, Expansión newspaper reports today. Indra is one of the two finalists in the bidding process carried out by the public body Transport for London (TfL) for the so-called Proteus Contract. Its rival is Cubic Transportation Systems, the US firm…


iberdrola renovables

Iberdrola obtains production licence for construction of Portugal’s largest wind farm, with around €350-million investment

Link Securities | Iberdrola (IBE) has obtained the production licence from Portugal’s Directorate General of Energy and Geology (DGEG), marking another step towards the construction of Portugal’s largest wind farm, Bolsamanía reported on Monday. The project, located in the districts of Vila Real and Braga in the north of the country, which combines wind and hydro power, has a total investment of around €350 million. With an installed capacity of…


euro espana

Eurozone GDP grows 0.4% in Q3 2024

The Gross Domestic Product (GDP) of the Eurozone expanded by 0.4% in Q3 2024 compared to the previous quarter, in line with its preliminary reading and marking its highest quarterly growth rate in two years, following the 0.2% increase in Q2 2024. Household consumption (+0.7%), the rise in gross fixed capital formation (+2.0%), and inventories were the largest contributors, with public spending also recording an increase (+0.5%). On the other…


President Macron

Improvising a new government for France

The weekend ends with a focus on France, following the resignation of Prime Minister Michel Barnier due to the no-confidence motion backed by Marine Le Pen’s far-right party. According to Le Pen, the outgoing administration’s plan to bring the budget gap down to 3.0% by 2029 was not credible for the country, and a “reasonable trajectory” based on wealth creation and savings is needed. “We want to absorb the deficits,…


alemania empleo agencia

Eurozone unemployment rate remains at record low of 6.3% in October

Bankinter: The October Unemployment Rate repeats at 6.3%, as expected. No surprises and no market impact. In any case, it is an excellent historical low level within a slightly downward trend during the last years. Eurostat estimates that in October 10.841 million people were unemployed in the Eurozone. Compared to September, unemployment decreased by 3,000 people in the Eurozone. Compared to October 2023, unemployment decreased by 411,000. By Eurozone countries,…


Sacyr2

Sacyr starts operating A21 project in Italy, with €800 million investment planned for concession

Intermoney | The Italian consortium SIS, formed by Fininc and Sacyr (Buy, PO €4.4), has begun operating five sections of the A21 Turin highway, totaling 320 kilometers. This contract, awarded by the Italian Ministry of Infrastructure and Transport, is expected to generate traffic revenues in excess of €2.9 billion over the 12-year concession period. The concession includes the design and execution of the works to improve these sections, with an…