The National Institute of Statistics (INE) published that the consumer price index (CPI) in Spain rose by 0.4% in February compared to January, a reading that confirms its preliminary figure and aligns with expectations from analysts at FactSet. The groups with the most significant positive monthly impact on the monthly CPI rate were: i) Hotels, cafés, and restaurants, which showed a variation of 0.7%, due to the increase in prices…
Alphavalue/ Divacons | The financial institution intends to reduce the number of members of the Banco Sabadell board in the event that the takeover bid is completed with a favourable outcome for BBVA and until the merger is carried out. In the prospectus submitted by the organisation to the US Securities and Exchange Commission (SEC), BBVA explains that as long as Sabadell remains a listed company under the control of…
Spanish wine, like European wine, is trembling. Donald Trump has decided to include it in the trade war that the United States is waging with the world and has threatened to impose a 200% tariff on them. This effectively means expelling Spanish wines from the U.S. market, a wine war that would particularly affect Catalan cavas and the wineries of Rioja and Ribera del Duero. This is indicated by the…
For a year now, Catalonia has been a real estate laboratory. This Sunday marks 12 months since the Generalitat decided to adopt the Housing Law and declare “stressed areas” in 140 of its municipalities, later adding another 131. It was the first community to do so – the Basque Country joined later, and so far no one else has – and today 90% of the Catalan population lives in an…
Link Securities | Zurich insurance company has just exceeded 4% shareholding in Banco Sabadell (SAB), according to information included yesterday in the register of the National Securities Market Commission (CNMV), according to the newspaper Expansión. The Swiss firm controls 4.03% of the Spanish bank, up from the previous 3.96%. Zurich Insurance Group has been making daily purchases on trading days since 21 February. With these acquisitions, it has increased its…
Bankinter | The Bank of Spain (BdE) has revised its GDP forecasts for 2025 to 2.7% year-on-year (up 0.2pp); and unchanged at 1.9% for 2026 and 1.7% for 2027. It has also revised the inflation projections for 2025 upwards to 2.5% (up 0.4pp), due to the rise in energy prices, and maintains those for 2026 and 2027 at 1.7% and 2.4% respectively. They project an unemployment rate of 10.5% (down…
Jefferies | ITX’s 5% Q4 EBIT beat confirmed the compounding power of the group’s affordable quality fashion proposition. Of course, it will be the clear miss in current trading at a 4% gain (versus we think buy-side at 7%/8%) which will set the debate this morning. The acceleration to 7% last week (as weather turned more seasonal) suggests that meteorological conditions were especially difficult during a small part of Q1…
Alphavalue / Divacons | The bank announced yesterday that it has received approval from the Securities Market Commission (CNMV) to offer trading and custody services for bitcoins and ether in Spain. The bank explained that the rollout of this service will initially begin with a small group of users and will be extended in the coming months to all its individual customers in Spain, based on the experience gained in…
The parties belonging to Sumar, the far-left coalition that is part of the government led by the PSOE, held a meeting late on Monday afternoon (which extended into the early hours of the night) to try to reach a consensus on the latest mandate from the European Council before the meeting between the second vice president, Yolanda Díaz – leader of Sumar – and the president of the Government. The…
Bankinter | The House Price Index, produced by the INE, points to a price increase of 11.3% in Q4 2024 (year-on-year), against 8.1% previously. In quarter-on-quarter terms, up 1.8% versus 2.8% previously). Analysts’ opinion: House prices are a positive surprise and will exceed our forecast of an 8% rise for 2024. They are supported by a strong labour market, supply shortages and interest rate cuts. We expect further price rises…