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renewables

Spanish economy 7th July 2023

Anti-takeover shield to include renewables companies, which cannot be taken over if investor has over 5% market share

Banco Sabadell| Among the modifications made by the Government (and announced yesterday) to the law known as the “anti-takeover shield” is the inclusion of energy companies (including renewable generation companies) as strategic companies so that any foreign investor that exceeds 5% market share in a specific technology will have to request authorisation from the Government. Assessment: It is possible that the modification made by the Government may have a certain…

poor

Spanish economy 7th July 2023

Bank of Spain estimates 17% of Spanish households -1.6 million, 376,000 up on four years ago- cannot meet essential expenses

In 2022, 9% of households could not cover essential expenses with their total gross income, compared with 7% in 2020, given the observed growth in inflation and interest rates, according to the report published by the Bank of Spain on the financial situation of households and companies for the first half of 2023. Although the nominal gross disposable income of households was 6.8% higher in 2022 than in 2020, inflation…

grifols blood bags

Spanish economy 7th July 2023

Grifols: European Parliament postpones debate on plasma regulation

Bankinter : The legal proposal was to be discussed at the end of June, but has been left off the official agenda due to a legislative bottleneck. The next dates could be 18 July, 29 August or September. Assessment: Positive news but with limited impact. In Europe it is estimated that 62% of the plasma consumed comes from donations and more than 30% is imported, mainly from the United States…

coches general

Spanish economy 6th July 2023

Car sales in Spain in June up 13%, more than 100,000 units, but still below pre-pandemic levels

Intermoney| According to data published by the employers’ associations of manufacturers (Anfac), dealers (Faconauto) and sellers (Ganvam), car sales in Spain maintained a positive performance in June, with growth of 13.3%, accelerating the rate of increase of close-on 8% of the previous two months. More than 101k vehicles were registered in June (the first time since December 2020 that the hundred thousand mark has been surpassed), bringing cumulative sales in…

Madrid Stock Exchange revision

Spanish economy 6th July 2023

Spain reinforces anti-takeover shield for strategic companies

Spain reinforces the shielding of companies considered strategic in the wake of the coronavirus with new legislation on foreign investment. In March 2020, in the wake of the pandemic, the government launched the so-called anti-takeover shield to provide a kind of golden share in the acquisition of large companies by non-EU companies. This measure, which has been permanent since then, is now being developed through a royal decree approved on…

nunez feijoo 777x400 1

Spanish Politics 5th July 2023

PP presents programme for government

The Partido Popular (Popular Party) has published this Tuesday the proposals with which the party led by Alberto Núñez Feijóo aspires to win the next elections on 23 July. In their 108-page programme, the Popular Party has briefly outlined the axes that will mark the course of their policies. The commitment to adjust the deficit and reduce the debt is the leitmotiv of the document. Changes in legislation on squatting,…

Closed

Spanish economy 5th July 2023

Small businesses shed almost 20,000 self-employed in one year

Bakeries, greengrocers, butchers, hairdressers? The decline of small businesses is being exacerbated by the pressure of costs and lower sales, an explosive combination that is accelerating the trickle of shop closures that began years ago without this decline being accompanied by an urgent support plan. The proliferation of large shopping centres, the consolidation of online commerce and with it the irruption into the market of the technological giants, have taken…

iberdrola megachuli

Spanish economy 5th July 2023

Iberdrola completes €154,773,000 capital reduction through share redemptions

Link Securities | The executive chairman of Iberdrola (IBE) has declared closed and executed the capital reduction through the redemption of treasury shares approved by the General Shareholders’ Meeting of the Company held on 28 April 2023, in exercise of the powers conferred by the Board of Directors. Iberdrola’s share capital has been reduced by €154,773,000 through the retirement of 206,364,000 treasury shares. The share capital resulting from the reduction…

unemployed august

Spanish economy 5th July 2023

Unemployment falls by 50,268 in June and drops to 2008 levels, under 2.7 million

CdM | The number of unemployed registered in the offices of the State Public Employment Service (SEPE) fell in June by 50,268 (-1.8%). This brings the total figure to the lowest since September 2008, falling below the 2.7 million mark to 2,688,842 unemployed. REGISTERED UNEMPLOYED TRENDS The Ministry of Labour and Social Economy stresses that this decline, which is widespread throughout the country, affects all sectors and all age groups,…

red electrica cableado

Spanish economy 4th July 2023

Spike in gas prices pushes up electricity prices 25% in June

ASE Group : The average daily price of the Spanish wholesale market (POOL) in June stood at 93.02 €/MWh. It is 25.35% higher than in May, but still 57.5% below the level of a year ago. According to ASE Group analysts, this rise is explained by the shortage of wind power, which has given prominence to combined cycle plants with gas on the rise. Gas-fired combined cycle plants produce 43.17%…