T. C. | The Spanish economy fell by 0.5% in the first quarter of the year, returning to negative values after having registered rates of 17.1% and 0.0%, respectively, in the third and last quarter of 2020. Analysts had expected a decline of 0.4%, so the figure is almost in line with forecasts.
Luís Pinheiro de Matos (Caixabank Research) | Headline inflation rebounded to 2.2% in April (1.3% in March). The figure is above CaixaBank Research’s forecast (1.6%). On the other hand, core inflation moderated to 0.0% (0.3% in March), a rate not seen since 2014. The new high in inflation can be explained entirely by the performance of energy prices, while the underlying components have not yet shown signs of recovery.
Olivia Álvarez (Monex Europe) | The EU, a significant laggardin Q1, starts to rise from the ashes. With below 10% of the total population having received at least one jab by the end of March, the European Commission entered negotiations with main suppliers to ramp up deliveries. As a result, the EC set ambitious goals to have 70% of the EU adult population vaccinated by the end of June, which accounts for 55%-60% of the total EU population.
T.C. | The group CET1 capital ratio rose 72 bps year-on-year to 12.30%, above its target range of 11-12%. The bank accrued 15 bps of capital for shareholder remuneration, the equivalent of 40% of underlying profit in the quarter. It will accrue 40% of underlying profit throughout the year for shareholder remuneration once authorized by supervisors.
According to the ranking by Funcas and the Universidad Rey Juan Carlos I, the Business Incubator of the Santiago Chamber of Commerce (Galicia) is the best centre for business creation in Spain. In second place is the European Business and Innovation Centre of Murcia (CEEIM) and in third place is the Vicálvaro Business Incubator in Madrid. bancosantander
This was confirmed by the 2020 data presented by the National Transplant Organisation (Spanish acronym: ONT). A total of 3,375 transplants of blood stem cells were performed over the last year,. Of those, 2,049 came from the patient themselves, while 1,326 were obtained from a donor. Actually there are now almost 38 million donors registered worldwide. In absolute terms, Spain remains fifth on the European ranking of registered bone marrow donors, behind Germany, Poland, the United Kingdom and Italy. Last year, 26% of all unrelated donors came from the Spanish register. (For 30 years, Spain has been the world leader in all types of transplants and organ donation, with 49 donors per million inhabitants).
T.C. | According to data from Red Eléctrica de España (REE), the Spanish electricity system registered a record figure on Sunday 21 March at 13:37 hours: solar generation reached 10,255 megawatts of instantaneous production, which was able to cover 37.3% of peninsular demand. It should be remembered that last year Spain installed almost 3,000 megawatts of solar energy, reaching 14,000 megawatts.
Intermoney | The Government of Pedro Sánchez plans to invest €1,000 million euros from the European funds against the pandemic in the promotion of social rental housing. Specifically, they will use this amount to complete a portfolio of 20,000 social housing units, coordinated by the Ministry of Transport, Mobility and the Urban Agenda.
T.C. | More than half of the debt, 43.5 billion, corresponds to the central administration, the government, while local councils owe almost 20 billion, the Autonomous Communities 10 billion and the Social Security another 10 billion. And nothing seems to indicate that these figures will improve in 2021. In breach of the law on late payment – which requires payment within 30 days – the central government was paying in January 2021 in almost 40 days.
Fernando Rodríguez | The Treasury will issue its first sovereign green bond “in the second half of this year,” as announced by Pablo de Ramón-Laca, Director General of the Treasury and Financial Policy. He explained that this first bond will form part of the Treasury’s Green Bond Issuance Programme, which aims to be a “structural component of the Treasury’s financing policy.”