According to the advance data on the evolution of the main magnitudes of the behaviour of the domestic business fabric provided every three months by the Bank of Spain through what it calls the Central Balance Sheet Data Office, the average remuneration of workers in Spanish companies increased by 5.9% in the first quarter of the year, above the average inflation for the period and well above the 2.8% average…
Bankinter : The electricity company is finalising an agreement with Crédit Agricole to incorporate it as a partner in the development of offshore wind projects in France. The two groups will jointly participate in the tenders that the French government will hold in the coming weeks to award hundreds of megawatts of offshore wind power. One will award 250MW in Brittany and the other 500MW in the Mediterranean. Assessment: Good…
The PSOE activated its microcredit campaign on 12 June and by Friday had already received €2.7 million . The party has improved the conditions it has already offered in the past, since, in the two previous campaigns for the 2019 general elections, the interest generated was 2% and 2.5% respectively. The amount raised by the campaign for the April 2019 elections was €2,454,200, which was doubled for the general elections…
Beyond the constant propaganda, greenwashing… the post-Covid economic reopening and growth (by 5.5%) led to an increase in emissions (also up 5.7%) according to the Sustainability Observatory. Spanish carbon market emissions in 2022 grew by 9%, accounting for 34.1% of the country’s total emissions (which grew by an estimated 5.7%). In Europe, by contrast, emissions in the market in 2022 decreased by 7%.(In 2021, something similar happened: Europe decreased market…
The Benetton family, through its holding company Edizione, has announced that it has increased its stake in the Spanish telecommunications tower company Cellnex (CLNX) from 8.205% to 9.903%, according to Expansión newspaper. In this way, the Italian family, which was the reference shareholder of CLNX a few years ago, once again becomes the largest shareholder of the group, overtaking the activist fund TCI, which had raised its stake in recent…
Link Securities | The Portuguese company Sovena and the Andalusian company Migasa, which markets brands such as Ybarra and Musa, are considering participating in the operation and submitting indicative proposals for the Spanish company. The cooperative Dcoop, Acesur and Borges have also already shown interest and are the main rivals, according to sources close to the competitive process for the sale of Deoleo, as confirmed to the digital newspaper elEconomista.es….
Singular Bank: The manufacturer of plasma-derived medicines has informed the CNMV that it plans to sell a package of shares in its Chinese subsidiary Shanghai Raas, in which it is its main shareholder, where it will obtain some $1,500 million. As Grifols had already indicated, an asset sale was necessary to achieve its goal of reducing net financial debt to four times EBITDA by the end of 2024, from the…
Intermoney| Aena expects to receive during the final days of June new bids for the operation of the duty free shops in Madrid Barajas and Barcelona El Prat airports, according to Cinco Días newspaper. This is a repetition of the process that was abandoned months ago, when duty free shops throughout Spain were put out to tender, and several lots were awarded, but not those located in the airports of…
Marta Pérez Amigot, Economic and Financial Analysis Unit of Ibercaja| The Bank of Spain published a report last week in which it warned of a stranglehold between supply and demand in the housing market, which means that property prices are resisting a fall despite the decline in activity. Two main ideas may be drawn from it: 1) After the initial impact of the pandemic, the demand for home ownership has…
Banco Sabadell| ANE announced at the close that it has increased its stake in Renomar to 75% (indirectly; from 50% previously, accounted for by the equity method with a book value of €101 million at year-end 2022 / 0.7% of EV) following the acquisition of 50% of Med Wind Energy which, in turn, holds the other 50% of Renomar, as well as a portfolio of projects under development in the…