Spanish economy

Spanish SMEs provide jobs for 71% of social security contributors

Spanish self-employed workers: Lower turnover and higher expenses

This is revealed by the latest Barometer from the Association of Self-Employed Workers (ATA), which details that “40.9% of self-employed workers state that their turnover has decreased in the first quarter of the year compared to 2024,” while “28.4% believe that their activity will decrease in the coming months.” In fact, “three out of four self-employed workers are not optimistic and have a negative (45.6%) or very negative (28.7%) perception…

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utilities

Review of Spanish utilities before 1Q25 results presented

Morgan Stanley | Rob Pulleyn reviews his sector coverage as a preview of results, with expectations of continued outperformance over Europe (up 14% YTD and 21% from lows). However, the market maintains an underweight position on the sector and the valuation is still at a discount of -10% in PE versus a long-term premium of 1-2%. Rob maintains his preference for large cap integrated and regulated companies, offering the greatest…