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bbva sabadell

Spanish economy 8th July 2024

BBVA to issue up to 1,126 million new shares to Banco Sabadell shareholders who accept offer of one BBVA share for every 4.83 Sabadell shares

Link Securities | The digital portal Bolsamania.com reported on Friday that 96% of BBVA shareholders gave their approval to the capital increase required for the takeover bid for Banco Sabadell at the Extraordinary General Meeting held on Friday. The quorum at the meeting was 70.75% and the shareholders gave “their firm support to the capital increase necessary to extend our offer to SAB shareholders”, said the chairman of the Basque…

industrial production worker

Spanish economy 8th July 2024

Spanish industrial production shows less dynamism: activity falls 0.1% month-on-month in May

BancaMarch : In Spain, this Friday, industrial production data have been published showing a lower dynamism: the sector’s activity fell by -0.1% monthly in May and previous data were revised downwards, which places the growth rate against last year at +0.4%, a rebound of two tenths compared to the previous month. By sector, and in indices adjusted for seasonal and calendar effects, Non-durable consumer goods (+2.7%) presented the highest annual…

Repsol novedad

Spanish economy 8th July 2024

Repsol reaches agreement for sale of portfolio of generation assets for €140 million

Renta 4 : Agreement for the sale of a portfolio of distributed generation assets in France for €140 million. According to press reports, Repsol has reached an agreement to sell a portfolio of distributed generation assets in France to the French company Altarea for €140 million. These assets are part of the projects acquired in 2023 from the Asterion Industrial Partners fund, when it bought a portfolio of 7,700 MW…

stock markets 777x400 1

Spanish economy 8th July 2024

Spanish stock market (PER 14x) trades at a significant discount to other European indices (Eurostoxx PER 16.2x)

Deutsche Bank | The Ibex trades at a significant discount to other European indices, with a 12-month PER (Price Earning Ratio) of 14x, compared to 16.2x for the Eurostoxx. The high weight of the financial and electricity sectors also means that the Spanish selective index has a particularly attractive 12-month expected dividend yield of over 5%, against the Eurostoxx’s 3.9%. Until the end of 2023, the selective Ibex index had…

BBVA Holvi

Spanish economy 5th July 2024

BBVA holds an Extraordinary General Shareholders’ Meeting today to approve the bid for Banco Sabadell

BBVA is holding an Extraordinary General Shareholders’ Meeting today at the Palacio Euskalduna in Bilbao, at which it is expected to approve the takeover bid (hostile takeover bid) for Banco Sabadell, and the capital increase -of 20%- necessary to make the bid, at a ratio of one new BBVA share for every 4.83 Banco Sabadell shares. At the time the offer was made public, this offer represented a premium of…

Europe SMEs

Spanish economy 4th July 2024

SME employers’ association blasts government: “it adopts communist theses”, with an “interventionist and persecutory” policy

Gerardo Cuerva, president of Cepyme, the employers’ association for small and medium-sized enterprises, has particularly attacked the latest negotiation on the reduction of working hours, which is just “the latest example of how the government acts unilaterally, without evaluating its measures and to the detriment of business. The truth is that it is proving that there is little room for private enterprise in the face of a government that adopts…

spain tourism

Spanish economy 4th July 2024

Spain exceeds 33 million tourists up to May, 13.6% more, with expenditure of 43,200 million (+22%)

Each tourist spent an average of €1,263 in May, 7.3% more than in 2023. According to the National Statistics Institute (INE), Spain received 9.3 million international tourists in May, 11.5% more than in the same month in 2023. In the month analysed, the United Kingdom was the main country of residence of tourists arriving in Spain, with more than 1.9 million tourists and an increase of 5.7% compared to May…

Almirall edificio id

Spanish economy 4th July 2024

Almirall announces new sustainability strategy with 20 lines of action such as Zero Net Emissions Plan

Alphavalue / Divacons | The pharmaceutical company launched the new sustainability strategy ‘Act4Impact 2030’ to transform its approach to sustainability, focusing on five main pillars: ‘Planet’, ‘People’, ‘Patients’, ‘Partners’ and ‘Principles’. The ‘Act4Impact’ strategy consists of 20 strategic lines of action that will be monitored over time to assess progress. These include the deployment of its roadmap towards Zero Net Emissions through energy decarbonisation plans, sustainable mobility or supplier engagement…

repsol estacion servicios

Spanish economy 3rd July 2024

El Corte Inglés sells 45% of its service station business, with a turnover of around €60 million, to Repsol

Norbolsa | After 25 years of joint business, El Corte Inglés has sold 45% of the service station business (Gespevesa) to Repsol (REP). Thus, Repsol retains 95% of the company and El Corte Ingles keeps a symbolic 5%. In any case, El Corte Ingles will continue to be the reference supplier of the service stations. Gespevesa manages 40 service stations, with a turnover of €60 million, registering a negative result…

escriva

Spanish economy 3rd July 2024

Government approves largest public employment offer in history, 40,000 vacancies

The government has approved the largest public employment offer in history, with 40,146 vacancies. However, the trade unions do not support the offer as they consider that it does not cover the staff deficit that the administration has been carrying since the outbreak of the financial crisis in 2008. A staffing gap that the CCOO unión puts at 65,000. The measure does not convince CSIF, the civil servants’ union, which…