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Talgo

In Spain 2nd September 2024

Magyar Vagon withdraws takeover bid for Talgo at CNMV, but intends to appeal bid’s legitimacy in Spanish and European courts

Renta 4 | Magyar Vagon has decided to withdraw its takeover bid for 100% of Talgo at the request of the National Securities Market Commission (CNMV) in view of the Spanish government’s refusal to authorise the operation. Magyar reiterates its intention to appeal the legitimacy of its bid before the Spanish and European courts, and does not rule out the launch of a new takeover bid if it obtains the…

banco santander

In Spain 30th August 2024

Santander starts share buyback program of up to €1,525 million

Banco Santander informed the market yesterday that, in application of the bank’s current shareholder remuneration policy, consisting of a total shareholder remuneration target of around 50% of the group’s ordinary profit, distributed approximately equally between cash dividend and share buybacks, the board of directors has approved to implement a share buyback program to which an amount equivalent to around 25% of Santander’s ordinary profit will be allocated in 1H2024, a…

Aeropuerto JFK

Spanish economy 30th August 2024

Ferrovial leads consortium building T1 at New York’s JFK airport, USA’s largest public-private project

Alphavalue / Divacons | The company headed by Rafael del Pino is leading the consortium building T1 at New York’s JFK airport, according to Expansión newspaper. This is the most important project currently under way in the US city. The investment amounts to $10,000 million (about €9,200 million), including a historic green bond issue of 2,550 million. It is also the largest public-private project in the United States. Ferrovial took…

sacyr edificio logo nuevo

Spanish economy 29th August 2024

Sacyr agrees financing with CBP consortium for construction of bridge over Calcasieu River in Louisiana

Alphavalue / Divacons | The Spanish construction company rose +0.56% yesterday after announcing that the Calcasieu Bridge Partners (CBP) consortium had reached financial closure for the bridge over the Calcasieu River. This is the design, construction, operation and maintenance for 50 years of the bridge over the Calcasieu River, part of the Interstate Highway (I-10), located in Louisiana (USA). According to the company itself, the financing includes a $1,333 million…

inflationCM copia

In Spain 29th August 2024

CPI falls six tenths in August to 2.2%; core inflation moderates one tenth to 2.7%

The Consumer Price Index (CPI) stagnated in August compared to the previous month but cut its year-on-year rate by six tenths, to 2.2%, its lowest figure since June 2023, when it stood at 1.9%, according to data released Thursday by the National Statistics Institute (INE). The agency has explained that the moderation of the CPI to 2.2% is due to the cheapening of fuels, which rose in August 2023 and,…

pensiones playita

Spanish economy 28th August 2024

Pension spending reaches a record €12,828 million in August, up 6.5%

The ordinary monthly payroll for pensions exceeded €12,000 million for the first time in July 2023 and this month marks a new record again after the increase in contributory pensions by 3.8% for 2024. Of the €12,828 million spent in August on the ordinary payroll of contributory pensions, three quarters (73.1%) went to the payment of retirement pensions, which totalled €9,378.6 million, 6.8% more than in August last year. At…

talgos

In Spain 28th August 2024

Government rejects Magyar Vagon’s takeover bid for Talgo on “national security” grounds

The Government has decided to reject the takeover bid for Talgo presented by the Hungarian group Ganz Mavag (Magyar Vagon) on the grounds of national security and strategic interests. This has been decided by the Foreign Investment Board of the Ministry of Economy, Trade and Enterprise, which has denied the operation presented by the consortium to take over the entire Spanish train manufacturer for €617 million. “Talgo is a strategic…

espana europa billete

In Spain, Spanish economy, Spanish Politics 21st August 2024

Spain’s general government debt soars by €24.769 billion to new all-time high in June

Link Securities | The Bank of Spain (BdE) published on Monday that the debt of the Public Administrations as a whole increased by 1.5% in June compared to May, an increase equivalent to €24,769 million, to €1.624 billion, which is a new all-time record. According to the BdE, using nominal GDP for the last four quarters, the debt-to-GDP ratio stood at 108.2% at the end of 1H2024. According to the…

inflacion precios

In Spain, Relevant News Item, Spanish economy 16th August 2024

Inflation falls to 2.8% due to electricity and food; underlying at 2.8%, lowest since January 2022

CdM | In July, the fall in electricity prices caused inflation to drop six tenths of a percentage point, with the Consumer Price Index (CPI) falling to 2.8%, according to the final data published by the National Statistics Institute (INE). The moderation in food prices also contributed. The CPI is thus at its lowest level since February and has now fallen for two consecutive months after the rises recorded in…

espana servicios hosteleria

In Spain, Relevant News Item, Spanish economy 7th August 2024

Spain’s services PMI stands at 53.9, maintains growth but at slowest pace since January

Link Securities | S&P Global’s services PMI for Spain declined in July to 53.9, down from 56.8 in June, and also lower than the consensus forecast of 56.0. Thus, the reading assumes sustained growth in the Spanish services sector, but at its slowest rate of improvement since last January, due to a slowdown in new orders and output growth. Meanwhile, new export business grew solidly once again, maintaining a rate…