Mathias Pleissner (Scope) | House prices in Europe may have peaked during the pandemic. The 10.6% price increase in the 12 months to the third quarter of 2021 may have been the final sprint. The last time prices grew by double digits was in 2017, a year before they plunged 15%.House prices continued to be driven by ultra-low interest rates, a lack of investment opportunities, historically high household savings levels…
Renta 4 | Técnicas Reunidas, in a consortium with TSK and Siemens Energy, has won a contract to develop two combined cycles in Mexico. The contract was awarded by the state-owned entity Comisión Federal de Electricidad de México. Last week, it awarded the consortium formed by Técnicas and TSK the construction of another two combined cycle plants. The contract is worth 337 million dollars (310 million euros) and includes the…
Renta 4 | The private equity fund of the Spanish public credit institution ICO, Axis, has commited to invest 30 million euros in Everwood Renewables Europe V FCR, the fifth clean energy investment vehicle raised by the management company Everwood Capital. The European Investment Fund, part of the European Investment Bank (EIB), has also entered into this investment. In December, the European Union body pledged to invest 50 million euros….
Renta 4 | Possible new measures to bring the price of electricity down. According to the press, the Ministry of Ecological Transition will force the four big producers (Iberdrola, Endesa, Naturgy and EDP) to sell 6% of its generation to provide liquidity for bilateral contracts. The aim is to link 10% of the PVPC to the result of these auctions. Whatsmore, the implementation of the Recore is being considered, making…
The Association of Infrastructure Maintenance and Operation Companies, (ACEX, in its Spanish acronym) demands that the Government approve price review mechanisms for new contracts for road maintenance services, as is already being applied by the Ministry of Transport and all its related public companies, the newspaper elEconomista.es reports today. It also demands that it also introduces compensation formulas for projects that are already underway, as the Executive intends to establish…
Norbolsa | BBVA has reached an agreement with Neon Payments Limited to acquire approximately 21.7% of its capital. The deal will be clinched via a capital increase and a payment from the Spanish bank of around $300 million. The Company, set up in the UK where it also has its headquarters, fully owns the Brazilian company Neon Pagamentos S.A. As of the date of this communication, BBVA is already the…
Fernando González Urbaneja | Elections in Castilla y León: 31 seats for PP, 28 seats for PSOE, 13 for VOX, 3 for Unión del Pueblo Leonés, 3 for Soria Ya, 1 for Podemos Izquierda Unida, 1 seat for Ciudadanos and 1 seat for Por Ávila… The Castilla y León voters have not left any of the candidates happy, with the exception of VOX. It has consolidated its position as third…
ICEX- Investing in Spain | The volume of private equity investment in Spain reached 7.494 billion euros in 2021, according to the first estimates obtained by the Spanish Association of Capital, Growth and Investment (Asociación Española de Capital, Crecimiento e Inversión, ASCRI) through the European EDC platform. A total of 841 investment transactions were closed and did not suffer as a result of the pandemic. In fact, it was a…
Morgan Stanley | According to our macroeconomists, the yield on the German bond could reach 0,6% at year-end. If this happens, it would be very negative for various stocks in the real estate sector. Over the last decade the correlation between property companies and the bond yield has been strong. So a rise of 38 pb would add a lot of volatility. This could lead to corrections of around 20%…
In 2021 the prorated minimum wage in Spain rose to 1,126 euros. This is 24% more than the European average, and much higher than Portugal, the Czech Republic or Lithuania, to name but a few of the countries that have surpassed us in terms of GDP per capita in recent years, explains Daniel Rodríguez in Expansión. The Spanish government – which has agreed with the trade unions to raise the…