The data on gross profit before tax and interest published by the Banco de España in its Central Balance Sheet Data Office have just been published. The slump in the gross economic result of the industrial sector is 40% in the spring year-on-year rate, a fall that aggravates that recorded in the first quarter (-15%). Revenues of non-financial companies fell by 7.1%, while personnel costs rose by 9.6% in 2Q23….
Banc Sabadell : On 5 July, the Audiencia Nacional (Spain’s High Court) dismissed the appeal lodged by Escal UGS -the company that developed the Castor project, 67% owned by ACS) against the repayment of €210 million to the gas system (initial €195 million + interest generated-, for the settlements received in relation to the Castor project, according to press reports. Assessment: News with a negative bias, although with limited impact…
One in every 12 people in Spain (8.1%) suffered severe material deprivation in 2022, more than double the figure before the financial crisis (2007: 3.5%) and even one point above the figure for 2014 (7.1%), the highest figure recorded until that time since the National Statistics Institute (INE) began conducting the Living Conditions Survey in 2004. Therefore, according to INE data analysed in Focus on Spanish Society, a publication edited…
Alberto Nuñez Feijóo has shown the strength and unity of the party against the amnesty, 48 hours before his inauguration, with a massive event that brought together more than 40,000 people in Madrid, much more than initially expected. It has achieved the largest demonstration that the PP has ever held in its history. The unity was evidenced by the active presence of the former presidents of the Government, José María…
Link Securities| In connection with the invitation to the holders of its outstanding convertible bonds corresponding to the issue in the amount of 250,000,000 at 1.25% maturing in 2023, with ISIN code XS1500463358 to make offers to sell bonds to Indra (IDR), the company announced that, since then, it has continued to receive expressions of interest from bondholders for the repurchase of its bonds in the secondary market and has…
BancaMarch| The sale and purchase of housing has fallen sharply in Spain. In July, housing sales stood at 48,303 units, a fall of -10.5% compared to the same month last year and which intensifies the drop in sales and purchases in the year to date to -5.3%. By type, 17% of the dwellings transferred by sale and purchase in July were new and 83% were used, with the number of…
Fernando González Urbaneja | In football, the technique of muddying the pitch is well known and is used by a bad team against a more competitive one. Muddying materially, spraying water on the pitch, or figuratively by pushing, kicking and other tricks to impede play and make the opponent desperate. It is as legitimate as it is regrettable, for the players and, above all, for the spectators, as it means…
Banca March : The forecasts of the Bank of Spain and the OECD, the bitter and the sweet. Regarding economic growth, the Bank of Spain forecasts values for this year identical to those estimated in the last projection, namely 2.3%. However, expectations for the variation in GDP for the coming years fall (1.8% compared with 2.2% in 2024 and 2% compared with 2.1% in 2025). In the case of the…
The former president of the PSOE, Felipe González, and the former vice-president, Alfonso Guerra, on Wednesday blasted Pedro Sánchez and the drift of his party, the PSOE, for opening up to granting an amnesty to the charges of the pro-Crime pending trial in order to revalidate the government with the votes of Junts and the rest of the pro-independence parties. Guerra has branded his secretary general as “disloyal” and “dissident”…
Alphavalue/DIVACONS| The price of rental housing in Spain stood at €11.34/sq m in August, 4.7% higher than in the same month of 2022, but 2.2% lower than in the previous month, making it four consecutive months of declines, according to data from the Fotocasa Real Estate Index. On the other hand, paying rent represents on average 42.67% of the salary of a citizen in Spain in 2023, which is 0.78…