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Aena nuevita

In Spain 14th September 2023

Aena traffic grows 1.4% in August compared to pre-pandemic levels

Intermoney | Aena (Hold, Target Price €150/share) released traffic figures for August 2023 on Tuesday, which showed a +1.4% increase over pre-pandemic (2019) levels. Recent trends continued last month, with both Barajas and El Prat still below 2019, specifically -4% and -8%, respectively. These declines were more than offset by significant growth at tourist airports, such as Malaga (+10%) or Lanzarote (+10%). Other relevant increases were in Valencia (+17%) and…

BBVA Holvi

Spanish economy 13th September 2023

BBVA doubles green bond issues in 2022 (€4,723m)

CdM | The new Green and Social Bonds Report 2022 published by BBVA (BBVA) highlights that in the last year the bank doubled the number of green bonds issued. Since 2018, the financial institution has issued eight green bonds for a total amount of €4,723 million, half of these issues occurred last year for a value of €1,688 million. The report states that by the end of 2022, BBVA’s parent…

Inditex Junta 2023

In Spain 13th September 2023

Inditex’s net income rises 40% to €2,513 M in first half of fiscal year, sales up 13.5%

Inditex’s (ITX) net income rose 40% in the first half of the fiscal year (from 1 February 2023 to 31 July 2023), to €2,513 million. Sales grew by 13.5% to €16,851 million, with a “very satisfactory” evolution both in shops and online, the company said. It also stressed that the evolution has been positive in all geographical areas and in all formats. Sales at constant exchange rates grew by 16.6%….

Naturgy Candela

In Spain 13th September 2023

Naturgy to give major boost to decarbonisation with acquisition of BioGNL production

Link Securities| Naturgy (NTGY) will give a strong boost to the decarbonisation of the road and maritime transport sector by acquiring BioGNL production from the future Sologas plant in As Somozas (La Coruña). The first long-term purchase contract for renewable gas in liquid form is for 25 GWh per year, which is the production capacity of the waste recovery plant that Sologas has planned for its As Somozas site, and…

spanish and european flag TC

Spanish economy 12th September 2023

European Commission revises Spain’s 2023 growth upwards to 2.2%, lowers eurozone’s to 0.8%

In its summer economic estimates, the European Commission (EC) has revised up Spain’s gross domestic product (GDP) growth for 2023 to 2.2% from 1.9% in its previous estimate (5.5% in 2022). This revision is mainly due to the “higher than expected” carry-over effect of 2022 and the “solid” performance of the Spanish economy in 1H2023. Looking ahead to the end of the year and the beginning of 2024, the EC…

Telefonica nubecillas

In Spain 12th September 2023

Saudi Telecom must inform Defence about its Telefónica plans

Norbolsa| Saudi Telecom will have to inform Defence about its plans in Telefónica (TEF) if it wants to obtain the government’s permission. In this regard, the Ministry of Defence updated on 1 September the information requirements it requests from foreign investors who buy more than 5% in companies linked to the Spanish Armed Forces, which is the case of Telefónica, for its communication and technology services to the Army.

coche electrico 1

In Spain 11th September 2023

Electric car sales in August overtake plug-in hybrids for first time in Spain

Alphavalue/ Divacons| For the first time in Spain, sales of electric cars have exceeded those of plug-in hybrids in a month. According to data from the Spanish Association of Car and Truck Manufacturers (Anfac), 3,583 electric cars were registered in Spain in August, 156% more than the previous year, while plug-in hybrids delivered were 3,362, just 21% more than last year.

Puigdemont

In Spain 11th September 2023

Puigdemont to Sánchez on Catalonia’s National Day: I won’t forgo unilateralism

Junts per Catalunya (JxCat), the party of Carles Puigdemont reaffirms and, in a statement on the occasion of the Diada (Catalonia’s National Day) that is celebrated today, 11 September throughout Catalonia, says that it has not renounced and will not renounce “unilateralism as a legitimate resource to assert their rights”, as Puigdemont defended in his press conference in Brussels, and that it maintains the legitimacy of the independence referendum held…

sector inmobiliario spain 1

In Spain 11th September 2023

Spanish house prices rise +2.1% in 2Q2023, year-on-year increase of 3.6%

Bankinter: House Prices rise +2.1% in 2Q2023 (q/q). The Housing Price Index, compiled by the INE (National Statistics Institute), points to a slight rise in prices of +2.1% in Q2 2023 (q/q). In year-on-year terms it remains positive (+3.6% vs +3.5% previously). Second-hand housing rises +2.2% year-on-year, while new builds are up +1.7% year-on-year. Assessment: We estimate that housing prices will moderate towards a cumulative decline of -5% between 2023-2024,…

sanchez elections

In Spain 8th September 2023

Sánchez changes his mind, again

Fernando González Urbaneja | That Pedro Sánchez changes his mind is not news, it is part of his way of doing politics. It is one of the assets he employs to achieve the desired end, which is none other than power, dressed up as a progressive programme, one of those concepts that can be used for whatever is needed, an empty signifier. Sánchez makes no secret of this ability to…