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Spanish economy

capital energy auction

Spanish economy 16th February 2022

The Frantic Pace In The Renewables Sector Goes On: ICO Also Invests In It Through Its Venture Capital Fund

Renta 4 | The private equity fund of the Spanish public credit institution ICO, Axis, has commited to invest 30 million euros in Everwood Renewables Europe V FCR, the fifth clean energy investment vehicle raised by the management company Everwood Capital. The European Investment Fund, part of the European Investment Bank (EIB), has also entered into this investment. In December, the European Union body pledged to invest 50 million euros….

Iberdrola Guggenheim

Spanish economy 15th February 2022

Ministry for Ecological Transition to force Iberdrola, Endesa, Naturgy and EDP to sell 6% of their generation to provide liquidity for bilateral contracts

Renta 4 | Possible new measures to bring the price of electricity down. According to the press, the Ministry of Ecological Transition will force the four big producers (Iberdrola, Endesa, Naturgy and EDP) to sell 6% of its generation to provide liquidity for bilateral contracts. The aim is to link 10% of the PVPC to the result of these auctions. Whatsmore, the implementation of the Recore is being considered, making…

road traffic oil demand

Spanish economy 15th February 2022

Road Maintenance Firms Demand To Compensate The Price Increase In Construction Materials

The Association of Infrastructure Maintenance and Operation Companies, (ACEX, in its Spanish acronym) demands that the Government approve price review mechanisms for new contracts for road maintenance services, as is already being applied by the Ministry of Transport and all its related public companies, the newspaper elEconomista.es reports today. It also demands that it also introduces compensation formulas for projects that are already underway, as the Executive intends to establish…

BBVA

Spanish economy 14th February 2022

BBVA pays $300 M for 21.7% of Neon Payments Limited; it already has an indirect 10.2% stake in Neon

Norbolsa | BBVA has reached an agreement with Neon Payments Limited to acquire approximately 21.7% of its capital. The deal will be clinched via a capital increase and a payment from the Spanish bank of around $300 million. The Company, set up in the UK where it also has its headquarters, fully owns the Brazilian company Neon Pagamentos S.A. As of the date of this communication, BBVA is already the…

venture capital

Spanish economy 14th February 2022

International Venture Capital Broke Records In Spain In 2021

ICEX- Investing in Spain | The volume of private equity investment in Spain reached 7.494 billion euros in 2021, according to the first estimates obtained by the Spanish Association of Capital, Growth and Investment (Asociación Española de Capital, Crecimiento e Inversión, ASCRI) through the European EDC platform. A total of 841 investment transactions were closed and did not suffer as a result of the pandemic. In fact, it was a…

Merlin Properties

Spanish economy 12th February 2022

Merlin Properties one of the top picks, with the sale of the banks a real catalyst

Morgan Stanley | According to our macroeconomists, the yield on the German bond could reach 0,6% at year-end. If this happens, it would be very negative for various stocks in the real estate sector. Over the last decade the correlation between property companies and the bond yield has been strong. So a rise of 38 pb would add a lot of volatility. This could lead to corrections of around 20%…

pedro sanchez reflexiona

Spanish economy 12th February 2022

The Great Scam Of The SMI Increase

In 2021 the prorated minimum wage in Spain rose to 1,126 euros. This is 24% more than the European average, and much higher than Portugal, the Czech Republic or Lithuania, to name but a few of the countries that have surpassed us in terms of GDP per capita in recent years, explains Daniel Rodríguez in Expansión. The Spanish government – which has agreed with the trade unions to raise the…

Naturgy

Spanish economy 11th February 2022

Naturgy Splits Into Two

Naturgy will face the energy transition divided into two companies which will be listed on the stock exchange. The Géminis project, as the company headed by Francisco Reynés has announced, has been approved by the entire board. This includes the new representative of the Australian fund IFM, who has just joined the company. The regulated distribution infrastructure business will be integrated within one of the companies, while the other will…

Madrid Gran Via2

Spanish economy 11th February 2022

Wealth Tax: Spain Ready To Shoot Itself In The Foot

Luis Alcaide | In most European states the wealth tax has been abolished. Only France has kept it for the taxpayer, but without physically suffocating the taxpayer. Another thing is the municipal taxes on property tenure, which exist almost everywhere in the world. The latter are key to local budgets, based on the occupation of a municipal space and in return for the services of police and real estate surveillance,…

Madrid Stock Exchange revision

Spanish economy 11th February 2022

Retail Investment Quadrupled In Spain At The Outbreak Of The Covid 19 Pandemic

Fernando Rodríguez | Retail investors took advantage of the sharp falls in the Spanish stock market in March 2019 to appreciably increase their positions in the sectors most affected by the crisis. This is revealed by an Analysis of the behaviour of retail investors in the financial markets during the COVID-19 crisis, prepared by CNMV technicians. “The number of transactions carried out in the first weeks of the crisis saw…