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BBVA vela atardecer

Spanish economy 30th January 2025

BBVA beats expectations with €2,433 million profit in Q4 2024 (+18%) thanks to good business momentum in Spain and €993-million share buyback plan

Bankinter | The bank beats expectations with a net attributable profit of €2,433 million in Q4 2024 (up 18.0% against €2,243 million estimated) thanks to the good momentum of the business in Spain and improves shareholder remuneration with a €993 million share buyback plan. Key figures for 2024 compared to the consensus forecast (Bloomberg): Net interest income: €25,267 million (up 9.0% versus €24,780 million estimated); Gross income: €34,481 million (+20.0%…

Tourism

In Spain 30th January 2025

Spain’s GDP grows 3.2% in 2024, and 3.5% in Q4 2024

Bankinter | The preliminary GDP for the year 2024 grows by 3.2% year-on-year, after announcing a Q4 2024 growth of 3.5% year-on-year that once again surprises with its strength. In quarter-on-quarter terms, the pace remains at 0.8% quarter-on-quarter since Q2, while Q1 is revised upwards to 1% (from 0.9%). Domestic Demand once again increases its contribution to growth by 3.5 percentage points year-on-year (1.2% quarter-on-quarter), where the improvement in Investment…

centros de datos

Spanish economy 30th January 2025

Merlin Properties, one of DeepSeek’s victims in Spain owing to exposure to AI data centre deployment

Alphavalue/ Divacons | The real estate developer’s shares fell 4.68% yesterday due to its exposure to the development of data centres for AI. Today it closed the market with a value of €5,851 million. Banco Santander, the REIT’s main shareholder with 22%, lost €63 million. Merlin Properties increased capital by €920 million in July last year to undertake its investments in platforms that host data centres, a line of business…

Puigdemont

In Spain 29th January 2025

Spain: Without the Fugitive, There is No Law

The President of the Government, Pedro Sánchez, had to retract and concede again publicly yesterday, accepting the demands of the fugitive Puigdemont – leader of Junts, who with his seven deputies in Congress decides which laws move forward and which do not – in order to push through an “omnibus” Decree Law with 29 measures, which include everything from pension increases to subsidies for public transport passes or aid for…

unemployment spain

Spanish economy 28th January 2025

Spain: 21,857,900 million employed… but over 831,000 “fixed discontinuous” employees not working and seeking work

According to data from the Active Population Survey (EPA) published this Tuesday by the National Institute of Statistics (INE), unemployment decreased by 265,300 people in 2024, which represents a 9.3% decrease compared to 2023, while employment grew by 468,100 jobs (3.8%), closing the year with a new record of 21,857,900 employed and a number of unemployed lower than 2.6 million. It is true that this figure does not include the…

Repsol

Spanish economy 28th January 2025

Repsol plans to enter data centre business with project worth around €4,000 million and 400+ MW

Renta 4 | According to press reports, Repsol is preparing a new leap in its diversification process, with the entry into the data centre business with a project of just over 400 MW. The plan is to be developed in Escatrón, Zaragoza, where it will take advantage of the land, electrical installations and water supply it currently has in the area, which now houses a combined cycle power plant it…

Talgo new

In Spain 28th January 2025

Jupiter Wagons to submit higher offer for Talgo higher than Sidenor group, looking to acquire more than 30% of shares

Alphavalue/ Divacons | Indian group Jupiter Wagons continues with its plans to launch a takeover bid for Talgo and has hired Lazard and Eversheds Sutherland as advisors, according to sources close to the process, Cinco Días reported. Jupiter Wagons is expected to submit a financial offer higher than that of industrial group Sidenor and seek to acquire more than 30% of Talgo’s capital. Talgo shares rose 1.73% on Friday. For…

telefonica logo nuevo

Spanish economy 27th January 2025

STC now controls 9.97% of Telefónica and requests a seat on its Board of Directors

The Saudi group STC is now the owner of 9.97% of Telefónica’s share capital and will engage in discussions with the operator to obtain a seat on the Board of Directors, according to a communication sent by its investment vehicle Luxco to the U.S. Securities and Exchange Commission (SEC). The STC group, which previously held 4.9% of Telefónica directly, received authorization from the Spanish government last November to control up…

Employment November

In Spain 27th January 2025

Minimum cost of hiring workers in Spain rises 62% since 2018

The government plans to finalize this week the increase in the minimum wage for 2025, with no signs of reaching an agreement on a figure with employers in the last meeting, having rejected the business offer to raise it by 3% as they deemed it “insufficient.” All indications suggest that the Ministry of Labor, led by Yolanda Díaz, will implement a 4.4% increase according to the highest recommendation from experts…

grifols blood bags

In Spain 25th January 2025

Grifols brothers linked to investigation by CNMV into accusations by bearish fund Gotham City Research

Link Securities | Judge José Luis Calama of the National Court, who is investigating the Grifols case, has asked the National Securities Market Commission (CNMV) to send him a document supporting Gotham’s accusations, arguing that the Catalan pharmaceutical company omitted relevant data in its accounts and provided the market with inaccurate information, as reported yesterday by the digital newspaper ElConfidencial.com. The regulator’s report, which analyses the accusations of the bear…