Norbolsa | The bank will launch a digital platform for the sale of second-hand cars in the first half of 2024. In this regard, the company is finalising the creation of a digital platform for the sale of second-hand vehicles from a network of eight selected dealers that will cover the whole of Spain. This list of dealers will also be joined by Arval, a subsidiary of BNP Paribas that…
Eurozone private sector activity in December maintained the previous month’s pace of deterioration, extending the contraction to seven consecutive months, according to the composite purchasing managers’ index (PMI), which repeated November’s reading of 47.6 points in the last month of 2023, anticipating the risk of the eurozone entering recession. By contrast, as published yesterday by S&P Global, Spain’s services PMI rebounded from 51.0 points in its November reading to 51.5…
Link Securities | Telefónica’s most representative trade union organisations have reached an agreement to sign the Third Collective Bargaining Agreement for Related Companies, valid until 31 December 2026 and extendable for a further year, with the aim of moving towards a more digital, flexible company that is prepared for future challenges in a highly competitive context of profound transformation. This agreement will allow Telefónica, among other things, to continue its…
According to data provided by the Ministry of Labour, the number of unemployed people registered in the offices of the State Public Employment Service (SEPE) fell in December by 27,375 people (-1%). In year-on-year terms, unemployment fell in December by 130,197 people (-4.59%), to 2,707,456 people, the lowest figure for this month since 2007. These figures, however, should be qualified. According to the USO trade union, the tangle of data…
Fernando González Urbaneja| Nadia Calviño’s legacy after four and a half years at the helm of the Spanish economy is “historic”, as she herself concluded to journalists. Historic because of the excellent results of her policy, which is that of its president, since in this government nothing is unconnected to Pedro Sánchez. Juan Francisco Martín Seco, however, has reached another conclusion in the article published in “La República” a few…
Banc Sabadell| Global Dominion (DOM) announced that it has reached an agreement for the sale of the Valdecarretas photovoltaic park (Zamora, Spain) to Renewables Japan Co. The transaction has been closed for more than €37 million (EV). The park, which has an installed capacity of c.38 MW, has been in operation since last June. Assessment: Positive news with limited impact. The transaction is not surprising given that Dominion had already…
BancaMarch: Gasoline has said goodbye to 2023 in Spain at its lowest average price level in almost two years. Three days to go before the end of the year, petrol was averaging €1.532 per litre this week, the lowest level in 2023 and in almost two years, as only in the week of 20 January 2022 was the price lower than this. On the other hand, and still according to…
Link Securities| The reform of the tax on large energy companies (Repsol, Iberdrola, Endesa, Naturgy and Cepsa) is generating monumental confusion in the sector, the newspaper Expansión publishes in today’s edition. To date, and despite the fact that the reform has theoretically come into force on 1 January 2024, nobody knows exactly how it will be applied. Thus, energy companies are urging the government to clarify when the reform of…
BancaMarch : Consumer spending continues to grow strongly in Spain. This morning retail sales for November were published, which advanced at a rate of +5.2% year-on-year, beating the +3.9% forecast. Moreover, the previous month’s figure was revised upwards by three tenths of a percentage point to +5.3%. With these figures, private consumption will continue to support activity at the end of the year.
Alphavalue/DIVACONS | The Spanish IT services and consultancy company is considering the acquisition of a stake in satellite operator Hispasat, which is partly owned by state-controlled network operator Redeia (RED), Cinco Días newspaper reported on Thursday citing unidentified market sources. Indra is considering raising €800 million from the sale of assets of its technology unit Minsait to finance the deal. On the other hand, the Council of Ministers authorised the…