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BCE grandeTC

European economy, In Europe 8th June 2023

Corporate lending significantly higher in Germany (+7.9%) and France (+6.6%) than Italy (-1.5%) or Spain (-0.6%).

Santander Corporate & Investment : Rising interest rates continue to take their toll on bank lending in the eurozone, as shown by the ECB’s data on lending to the private sector in the eurozone published last week. It confirms the progressive slowdown in bank lending to +3.5% year-on-year in April vs. +4% in March and a peak of +6.5% in September last year, thus approaching its pre-pandemic levels of +3%…

IAG

European economy, European politics, In Europe 7th June 2023

IAG interested in Portugal’s TAP

Banco Sabadell: From the declarations in Bloomberg of IAG’s CEO, Luis Gallego, we highlight: They expect a better summer, although there are still difficulties such as air traffic control in France. In any case, they see very strong demand in Q2 and Q3, with less visibility for Q4. Premium traffic is offsetting the weakness of corporate traffic, which remains at 70% of 2019 levels. On consolidation opportunities, apart from the…

airbus A320

Companies, European economy 6th June 2023

Airbus reportedly favourite (over Boeing) to win IndiGo’s 500 A320 aircraft order

Banc Sabadell | According to Reuters, Airbus (AIR) is reportedly the favourite (over Boeing) to win IndiGo’s 500 A320 aircraft order, making it the industry’s largest order by volume (versus one for 470 aircraft placed by Air India a few months ago). On the other hand, both Airbus and Boeing are reportedly also competing to sell 25 aircraft (AIR’s A330neo or Boeing’s 787) to the same airline. No statement has…

Ireland

In Europe 6th June 2023

Centre for Ibero-American and Transatlantic Studies (CEIT) calls for new edition of Spanish-Irish Awards to encourage research on relations between the two countries

The Centre for Ibero-American and Transatlantic Studies FGUMA-UMA, via the María Zambrano Centre for Transatlantic Studies of the University of Málaga calls for a new edition of the Spanish-Irish Awards of the Aula María Zambrano de Estudios Transatlánticos with the aim of encouraging research and increasing awareness on the relations between both countries in any academic and scientific field. These awards, which are sponsored by José Antonio Sierra Lumbreras, are…

Indra Tecnocom

Companies, European economy 5th June 2023

Indra signs binding agreement to acquire Park Air UK

Renta 4| Park Air is a leader in ground-to-air radio systems for civil and military air traffic management. Its customers include air navigation service providers, airports, systems integrators and government military organisations. Park Air has annual sales of around €20 million, achieved negative EBIT in 2022, more than 120 employees and a partner and distribution network that enables it to supply systems in more than 100 countries. The acquisition would…

Eurozone

European economy, Relevant News Item 1st June 2023

Eurozone inflation slows to 6.1% in May, lowest level since February 2022; core moderates to 5.3%

CdM: Price rises ease in the euro area. In May, inflation fell nine tenths of a percentage point from the previous month, bringing the Consumer Price Index (CPI) to 6.1%, according to Eurostat, the EU’s statistical office. This is the lowest level since February 2022, coinciding with the Russian invasion of Ukraine. Excluding the impact of energy, food, alcohol and tobacco, core inflation achieved two consecutive months of moderation, standing…

bce 4mayo2023

European economy, In Europe 1st June 2023

ECB warns of risks associated with liquidity in real estate and debt market

Banca March| The European Central Bank (ECB) continues to see “vulnerability” in the markets given the new interest rate scenario, which in its opinion poses higher financing costs for companies and households that could trigger a liquidity crisis, given the need for massive asset sales in a hypothetical panic scenario. This vulnerability would be concentrated above all in real estate funds and in the debt market, this being one of…

España bancos

In Europe 31st May 2023

Capital requirements in Europe increase with activation of countercyclical buffer

Renta 4| According to press reports, some European countries are demanding more capital from banks, with the activation or the intention to do so of the countercyclical buffer. Germany, France and the UK are among the countries whose central banks are studying the possibility of activating the buffer, while Iceland has just announced its activation, setting the maximum allowed at 2.5% (Norway and Denmark are already at that level). In…

Pfizer vaccine

Companies, In Europe 30th May 2023

Pfizer agrees to cut COVID vaccine orders with EU due to falling demand

Bankinter | Pfizer and the EU have agreed to reduce the number of doses to be delivered by an undisclosed number and, to delay the validity of the contract to 2026. The reason is the drop in demand for vaccines and booster doses and that several countries have destroyed vaccines after their expiration date. The initial contract is dated May 2021 and contemplated the acquisition of 900M doses and an…

edf campo

Companies, In Europe 26th May 2023

French State raises its stake in EDF to 97.69%, plans to reach full ownership by 8 June via squeeze-out

Santander | EDF has announced that the takeover bid for its shares by the French state has raised the state’s stake in the company to 97.69% of the share capital and that the state will now seek to acquire the minority stakes through a squeeze-out process, which it expects to result in full state ownership by 8 June. In addition, EDF issued a press release yesterday to announce that the…