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fcc edificio

In Spain 30th August 2023

FCC requests authorisation to buy back up to 7% of its capital for more than €400 M, with a premium of 38%

Link Securities | In a Significant Event sent to the CNMV, FCC yesterday requested authorisation for the repurchase of up to 7% of its capital, an operation announced last July after receiving no opposition from any creditor. The company has received letters from the company’s main shareholders, Carlos Slim and Esther Koplowitz, stating that they will not accept the offer. The group’s Board of Directors approved a takeover bid to…

Inflation Spain

Spanish economy 30th August 2023

Fuels cause inflation in Spain to rise by 2.6% up to August, core falls to 6.1%

The Consumer Price Index (CPI) increased by 0.5% in August compared with the previous month and raised its year-on-year rate by three tenths of a percentage point to 2.6%, mainly due to the rise in fuel and liquid fuel prices. With August’s rise, inflation has now risen for two consecutive months, after rising four tenths of a percentage point in July to 2.3%, according to advanced data published on Wednesday…

Caixabank sede madrid

In Spain 30th August 2023

Caixabank reaches, for first time and ahead of schedule, six million direct deposit of salary payments

Link Securities | The newspaper Expansión reports in today’s edition that Caixabank has reached for the first time in its history the milestone of six million direct deposit of salary payments thanks to its latest commercial campaign, reaching in seven months the target it had set for the whole year. At the end of 2022, CaixaBank had 5.8 million salaries paid in by direct debit. At the beginning of the…

EidF

In Spain 29th August 2023

EidF falls 70% on return to trading after restatement of accounts

Alphavalue / Divacons | The photovoltaic company’s shares fell 69.99% yesterday after the suspension of trading was lifted. It had been suspended since April 14 because the CNMV considered that the company had not provided sufficient information on its accounts. A fortnight ago, EiDf presented its restated accounts. The 70% fall (it was limited to this level) to €8.93 meant the wiping out of 1.2 billion of stock market value…

vaccine2021

In Spain 29th August 2023

Catalan no longer required for doctors and nurses in the Balearics

The new PP government of the Balearic Islands has abolished the language requirement approved by the socialist Armengol – fluency in Catalan will now be a merit, not an essential requirement – and approved a plan to attract and retain health professionals in the face of the shortage and the flight to other territories. According to the doctors’ union, “the right to health is a priority value over language”. Neither…

sanchez feijoo

Spanish economy 29th August 2023

“No quarter for the PP, we don’t even give them the time of day”

Fernando González Urbaneja | Feijóo, in his capacity as the person in charge of the investiture, has asked for a meeting with Sánchez in his capacity as head of the PSOE, the second most voted party. What is anomalous is that such contact was ignored, even though it serves no purpose. It’s not true that rubbing together makes love, since, unfortunately, there is no chemistry between these two figures. Sánchez’s…

ACS Cimic

In Spain 29th August 2023

ACS negotiates with Elliott fund to purchase 50% of Thiess mining company

Link Securities| ACS is negotiating with Elliott the purchase of 50% of the mining company Thiess, the newspaper Expansión highlights in today’s edition. The investment fund has, from 2024, the right to resell half of the subsidiary of Cimic, ACS’s Australian subsidiary, for which it paid some €1.13 billion in 2020. There is also the option of an IPO of Thiess. Under the shareholders’ agreements, ACS is obliged to buy…

endesa enel

In Spain 28th August 2023

Endesa handles over 100 calls from customers in Balearics due to storm damaging low-voltage lines

Link Securities| The company estimates that more than 5,500 customers were left without electricity supply yesterday due to the storm affecting the Balearic Islands, according to Expansión today. The storm yesterday affected 18 medium-voltage lines that suffered failures. Endesa assigned 40 professionals to work in the field and another 40 to carry out manoeuvres in the company’s control centre. Endesa received more than 100 calls from customers for damage to…

spain congress

Spanish Politics 28th August 2023

Dual-use votes in Catalonia

Fernando González Urbaneja | The “alcaldada” of the Congress that must be approved this Monday to allow ERC and Junts to form their own parliamentary group, with the economic and parliamentary advantages it entails, will use on this occasion a cruder formula than the previous ones. On other occasions, the number of deputies of the pretender was completed in order to reach the number of deputies foreseen in the regulations…

Europarlament

Spanish Politics 25th August 2023

Hungary asks “Spain to solve its problems” of co-official languages before taking them to EU

The European Union is receiving with a certain scepticism the Spanish government’s intention to make Catalan, Galician and Basque official languages within the institutions. Although most countries do not yet have a fixed position, especially because the situation has arisen during the holiday period – Brussels is closed in August – many hope that Spain’s political problems do not end up spilling over into the EU-27 club. This is the…