At the end of 3Q23 Spain still maintained slight growth because the fall in volume (-4.7%) was offset by the rise in price (+5.3%). But by 30 November, Spanish export turnover was already down slightly, by 0.7% (Germany by -1.3%), while those of Italy and France were up, by +0.7% and +2.8%. “In 2023, and for the first time in many years, Spanish exports have fallen in volume and value,…
Link Securities| Spanish perfume and cosmetics multinational Puig has completed the banking syndicate that will lead its Initial Public Offering (IPO), expected before the summer, Expansión newspaper reports. Goldman Sachs and JPMorgan are the banks leading the placement as global coordinators. In second place are Bank of America, BNP Paribas, Caixabank and Santander and in third place are BBVA and Banco Sabadell.
BP is waiting for the government to transpose the European renewables directive to unblock its plan for the Castellón refinery. Andrés Guevara, president of BP Spain, said yesterday that “hundreds of millions” worth of investments have been paralysed by the delay of the Ministry for Ecological Transition in the transposition of a European directive. According to “Economía Digital”, the governments of Germany and the Netherlands have already taken this step,…
As many as 700,000 SMEs, 23%, closed with losses in 2023, compared to 64% that closed with profits, as announced this Tuesday by the barometer of the General Council of the Colleges of Administrative Managers. The barometer was developed during the week of February 5 to 9, through consultation among 6,000 administrative managers. According to their data, 26% of SMEs invoiced less in 2023 than in 2022, compared to 47%…
Hungarian consortium Ganz-MaVag Europe Zrt. (Magyar Vagon) confirmed on Friday that it is holding talks and negotiations for a possible takeover bid for 100% of Talgo (TLGO) at €5/share without an agreement having been reached yet. The talks focus on the financing of Talgo (TLGO) subject to change of control. As the National Securities Market Commission (CNMV) does not allow the offer to be made subject to the condition of…
Alphavalue / Divacons| Unicaja shares rose 3.46% yesterday following news that Banco Sabadell was interested in a merger. According to El Confidencial, Josep Oliu, chairman of the Catalan bank, has held talks at the highest level with the Bank of Spain about a possible merger, with plans to locate the merged entity’s headquarters in Malaga, where Unicaja has its headquarters. According to the news story, Unicaja’s main shareholder, the Unicaja…
Aurelio Medel (5 Días)|Foreign business covers a fall of more than 30% in profit and credit in Spain since 2007, a historic year for the sector. Since then, 27,850 branches have closed and 115,000 jobs have fallen. The fanfare that occurred last week with the publication of banking results is the product of two contradictory exigencies. On the one hand, the Government wants to show that these are exaggerated profits…
The purchase and sale of homes in Spain went down 11.2% in 2023 compared to the previous year and the granting of new mortgage loans to purchase a home decreased by 21.3%, according to data released by the General Council of Notaries.Altogether, in the Spanish real estate market, 640,451 purchase and sale operations were reached.By type of housing, apartment sales reached 492,498 units (-10.5% year-on-year), while single-family homes fell to…
Santander Research : After last week’s stock market collapse of regional bank New York Community Bancorp, in Europe, the alarm bell was sounded by Deutsche Pfandbriefbank. By country, the biggest stock market falls are in French (BNP -14%, SocGen -9%) and German banks; while, in credit, the biggest increases are in German banks (+27bp), followed by Spanish (+9bp), French (+8bp) and Italian (+6bp) banks. The upgrade by S&P of Banco…
For the first time in the history of Social Security, the average retirement age now exceeds 65 years. In 2023 it was 65.1, according to Borja Corujo, Secretary of State for Social Security. The average retirement age reached 65.1 last year. It is the first time that has occured in the history of social security, and represents three more months with respect to the average age of 64.8 years that…