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sacyr edificio logo nuevo

In Europe 16th June 2025

Sacyr about to sign contract for Messina Strait Bridge, Europe’s largest public works project

Link Securities | The Sacyr consortium responsible for the construction of the bridge over the Strait of Messina (Italy) is about to sign the contract for what would be Europe’s largest public works project in terms of investment, worth around €13 billion, of which around €10 and a half billion correspond to the Sacyr consortium, which holds 22.4% of the business alliance involving the Italian companies Webuid, Condotte and Itinera….

Telefonica novisima

In Europe 13th June 2025

Telefónica commits to concrete investment in relevant digital infrastructure to convince EC to approve telecoms mergers

Link Securities | The company is willing to invest in data centres and cybersecurity services to convince European regulators to approve telecoms mergers, as the Spanish company aims to lead consolidation on the continent, Expansión newspaper reported yesterday. The group hopes its commitment to make concrete investments in major digital infrastructure will help convince the European Commission (EC) that fewer and larger telecoms operators would increase the bloc’s technological resilience,…

Caixabank sede madrid

In Europe 11th June 2025

Caixabank formally offers to buy Novo Banco, despite Portuguese government’s ‘displeasure’

Alphavalue / Divacons | US fund Lone Star, which owns 75% of Novo Banco, formally received takeover offers from both Caixabank and French banking group BPCE. In addition to the buyout offers, Lone Star is also considering the possibility of selling part of its stake through an IPO of Novo Banco in the future. There had been speculation that the value of the Portuguese bank could be between €5.5 billion…

telefonica edificio

European economy 10th June 2025

Telefónica hires financial advisor to assess potential acquisitions in Europe

Bankinter | Telefónica is hiring a financial advisor to evaluate possible acquisitions in Europe. One of the companies being considered is Vodafone Spain. Bankinter analysis team’s view: The operation could be interesting to reduce the competitive intensity in Spain, where the market would be dominated by three operators instead of four, but its execution would be complex and would take time. Telefónica would have to assess well the synergies and…

Alemania PIB

European economy 6th June 2025

German government approves €46 billion tax relief package

Bankinter | The German government has approved a tax relief package worth €46 billion (11% of GDP), which will need to be ratified by parliament. The stimulus includes a corporate tax cut of 1% a year from 2028 (to 25% from the current 30%) and deductions for the purchase of new machinery and other equipment. The Houses could pass it by the end of the summer. Bankinter analysis team’s view:…

ArcelorMittal

European economy 4th June 2025

Tariff effect could subtract ~10% from ArcelorMittal’s 2025 Ebitda and cut expected recovery this year

Banc Sabadell: Trump will impose an additional 25% tariff on steel imports which would leave the tariff burden on these products at 50%. Assessment: Negative news given that we understand that although at first the company stated that the impact of the tariffs could be positive, the fall in the dollar, together with the fall in demand linked to the uncertainty, would be weighing on the business. Thus, despite its…

ACS Hochtief Alemania

In Europe 3rd June 2025

ACS (Hochtief) and Ferrovial (Budimex), contractors showing most interest in building terminal at Warsaw’s new airport

Link Securities | Investment in Poland’s Centralny Port Komunikacyjny (Central Communication Port) project includes the construction of a new international airport on the outskirts of Warsaw and the development of a large high-speed rail network connecting the facility with major Polish cities, according to the newspaper Expansión. The investment in this programme amounts to around €30 billion, of which €1.2 billion will go towards the construction of a large airport…

indra edificio 2

In Europe 3rd June 2025

Brussels reportedly considering slapping extraordinary tax on arms giants

Intermoney | The German media Spiegel published a report on Monday in which they mentioned that Brussels is considering imposing some kind of measure on arms giants to prevent billions of euros of public money being invested from ending up directly in the pockets of shareholders. These measures could range from taxes on extraordinary profits to partial nationalisations of the companies or stricter contracts with fixed prices. The German company…

portugal parlamento congreso

European politics 2nd June 2025

Two-party system ends in Portugal: Chega overtakes Socialist Party to become second political force

Bankinter | Chega overtook the Socialist Party (PS) and, after the votes of emigrants in the legislative elections were counted, became the second political force with the most deputies in Parliament. The party led by André Ventura, which won in the two emigrant districts – Europe and Outside Europe – will elect two more deputies and will have 60 representatives in Parliament, two more than the PS, which has 58….

inflacion precios 1

European economy 30th May 2025

ECB’s expectations for average Eurozone inflation over next 12 months rise in April to 3.1% from 2.9% in March

Link Securities | According to the monthly report published by the ECB, average inflation expectations in the Eurozone for the next 12 months rose in April for the second consecutive month to 3.1% and from 2.9% in March, standing at its highest level since February 2024. Inflation expectations for the next three years remained unchanged in April at 2.5%, while inflation expectations for the next five years stood at 2.1%…