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Airbus

Companies, In Spain 12th October 2023

Airbus delivers 55 aircraft in September, same number as a year ago, year-to-date total reaches 488 compared to 437 in September 2022

BancoSabadell: At the beginning of the week, the aeronautical company announced the delivery of 55 aircraft in September (compared to 52 in August ’23 and 55 in September ’22), bringing total deliveries in 2023 to 488 (against 437 in August ’22; +12%). On the other hand, a total of 23 new orders and no cancellations were recorded during the month. Considering cancellations for the year as a whole, net orders…

Madrid stock market

In Spain 11th October 2023

International investors reach a record high and now control 50.3% of Spanish shares

Non-resident investors increased their stake in Spanish shares to 50.3% at the end of 2022, up one and a half percentage points from the previous year and an all-time high. This is reflected in the latest Share Ownership Report prepared annually by BME’s Research Department. The weight of international investors in the Spanish stock market has grown by more than ten percentage points in the last decade and 16 so…

aena airport

In Spain 11th October 2023

Aena debuts in debt market with €500m seven-year bond issue

Link Securities | Aena (AENA) made its debut in the debt market on Friday with a seven-year issue of €500 million on 9 October 2023. The bond issuance programme (EMTN) will help Aena to amortise its debt, as part of its strategy to reduce the cost of its liabilities, especially after the increase in the average rate it has paid in half a year, from 1.04% to 1.99%. It will…

The Bank of Spain

In Spain 10th October 2023

“More than 50% of effects of rate hikes still to come” says Governor of Bank of Spain

According to the Governor of the Bank of Spain, Pablo Hernández de Cos, in his speech at the XIV Financial Meeting organised by EXPANSIÓN and KPMG, “more than 50% of the effects of interest rate hikes are yet to come and we will see them in the coming quarters”. The also member of the Governing Council of the ECB has indicated that they have been “surprised” by the rapid transmission…

ACS novisimo

In Spain 9th October 2023

ACS spins off subsidiary Clece into three divisions following recent interest from private equity funds

Link Securities | The company has carried out a corporate reorganisation of Clece, the holding company that groups the activities of cleaning, integral maintenance, social services, airport and health care, according to the digital newspaper ElConfidencial.com. ACS has split the group into three divisions, after several private equity funds have shown interest in some of its businesses in recent months, while Ferrovial, Sacyr and OHLA have sold similar companies at…

More ambitious renewable energies in the EUMore ambitious renewable energies in the EU

In Spain 9th October 2023

Iberdrola, Endesa and Repsol seek partners for renewable energy projects

Repsol is looking for a partner for a portfolio valued at €800 million in an operation that has been christened as Project Ebro; Endesa is looking for an ally to help it develop projects valued at €2,000 million (Project Ra); and Iberdrola is looking for a travelling companion to install renewables for €7,000 million (Project Maverick) in the USA. The three major Spanish energy companies account for almost half of…

Applus

In Spain 7th October 2023

Apollo takeover bid for 100% of Applus+ pending approval of Chinese, Kuwaiti and Saudi competition authorities

Alphavalue/DIVACONS | Apollo’s takeover bid for 100% of Applus+ (APPS) is pending approval from the national competition authorities of China, Kuwait and Saudi Arabia, Apollo informed the Spanish Securities and Exchange Commission (CNMV) on Thursday. In this regard, the US fund highlighted that it has already received authorisation from the competition authorities of Brazil (11 August), Canada (14 August) and Chile (15 September), as well as from the European Commission…

Granada

In Spain 6th October 2023

European summit in Granada as continent heads into stagflation

On 5 and 6 October, Granada, armoured with more than 5,000 police officers, brought together almost fifty European leaders – the 27 EU member states and 17 others – for the third summit of the European Political Community, hosted by the acting prime minister, Pedro Sánchez, at which he is acting as host in the midst of negotiations for his investiture. The aim of the meeting is to address the…

utilities

In Spain 5th October 2023

Electricity demand in Spain falls by 4.3%, 10% for large companies, in 2023

ASE Group : In September, the daily price of electricity on the Spanish wholesale market (POOL) closed at 103.34 €/MWh. This is 7.6% more expensive than in August, but 57.6% below its level a year ago. The reduction of wind and photovoltaic has meant a greater presence of combined cycle gas (CCG) in the generation mix, causing the price to rise. ASE Group analysts point out that this rise has…

manufactoring Spain

In Spain 4th October 2023

Spain’s actual manufacturing PMI reading marked sixth consecutive month of contraction in factory activity

Link Securities | The factory activity index, PMI manufacturing, for Spain, compiled by Markit, came in at 47.7 points in September, up from 46.5 points in August, which was also the reading expected by the analysts’ consensus. It should be recalled that a reading above 50 points indicates an expansion in activity compared with the previous month, while a reading below this level indicates a contraction in activity. Thus, the…