The ECB published January bank lending rates the day before yesterday, with a slight fall of -1bp to 5.1% in new corporate loans (third consecutive month of declines) and -13bp to 3.9% in new loans to households (for the second consecutive month). Among the major European economies, Spanish and French corporate loans lead the January tightening (-11bp to 4.9% and -5bp to 4.8% respectively), in contrast to the 12bp widening…
F.R.| Women are gaining weight in the positions of chairwomen and CEOs of listed companies, although maintaining limited power quotas with respect to men. According to the report Women on boards and beyond 2023, prepared by the index manager MSCI and the consulting firm Clarity on the 2,400 stocks from 49 countries that make up the MSCI ACWI Index, women ended 2023 as chairwomen of 9.1% of boards and CEOS…
Banca March: Economic growth, salaries and fiscal policy are some of the issues addressed by Spain’s Minister of Economy. As Carlos Cuerpo said, the ministry is comfortable with the GDP growth forecast of 2% for 2024, above the estimates of other international institutions – IMF (1.5%), Eurostat (1.7%), OECD (1.5%) -. On the other hand, he explained that, in order to tackle the challenge of increasing productivity, a National Productivity…
According to data published yesterday by the Ministry of Labour, the number of unemployed people registered in the offices of the State Public Employment Service (SEPE) fell in February compared to January, by 7,452 people (-0.27%), to 2,760,408 unemployed. In seasonally adjusted terms, unemployment fell somewhat more, by 28,249 persons. In February 2023 unemployment rose by 2,618. Over the last 12 months, unemployment in Spain has fallen by 150,607 persons…
Link Securities| The Norwegian Pension Fund has €12,407 million invested in companies listed on the Spanish stock exchange, according to the 2023 report from Norges Bank Investment Management (Nbim), up 23% from the previous year, Expansión newspaper reports today. Among its investments, it holds 3.36% (3.59% in 2022) of IBERDROLA (IBE), valued at €2,491.2 million; 2.26% (3.36% in 2022) of BANCO SANTANDER (SAN), valued at €1.355.6 million; 2.84% (2.09% in…
The Balearic government presided by Francina Armengol, now president of the Congress, paid €3.7 million to the corrupt scheme of Koldo García (then advisor to the all-powerful Minister of Transport and Secretary of Organisation of the PSOE, José Luis Ábalos, who last week left the PSOE and joined the mixed group in Congress) a week after its technicians verified that the masks purchased were of poor quality and unusable for…
José Bogas, ENDESAS’s CEO, explains in Consejeros magazine that “295,000 million of investment is needed for the period 2021-30, and we have many years ahead of us when when we are not investing at this pace. Of these 295,000 million, 118,000 million are for renewables; 85,000 for energy efficiency, but almost nothing has been done so far; 53,000 for networks, which is more than 5,000 every year and we have…
Link Securities| The president of Aena, Maurici Lucena, has defended the increase in airport taxes by 4.09% from 1 March despite obtaining record profits in 2023, which he has justified, in part, by the “efficiency” in its operations, the newspaper Expansión published yesterday. He argued his position because it complies with the law that regulates Aena and, secondly, out of respect for Aena’s shareholders. In addition, Lucena has expressed his…
Banca March| After years in which the monetary authority has been in charge of acquiring the debt of member countries and fiscal rules were frozen, the flexibility granted to fiscal policies must now be limited in order to contribute to lowering inflation and debt ratios. This has been repeatedly conveyed by the President and the Vice-President. However, she pointed out that the reduction of public deficits should be carried out…
Renta 4| The Consumer Price Index (CPI) rose by 0.3% in February compared to the previous month but cut its year-on-year rate by six tenths to 2.8%, due to lower electricity prices and stable food prices, according to data released on Thursday by the National Statistics Institute (INE) and reported by Europa Press. On the other hand, fuel prices rose in February. With the fall in the year-on-year CPI in…