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…
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…
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…
Small businesses have experienced a negative trend over the past year, with up to 26 small businesses closing each day, amounting to 9,739 shops that have shut down in the last twelve months, according to data provided by the self-employed association, Uatae. Uatae claims that these figures demonstrate that “small businesses are still in crisis,” due to rising costs, disparities in digitalization, and the strong competition posed by large platforms…
CdM | In January, 5.1 million international tourists visited Spain, 6.1% more than in the same month last year, with total spending up 8.9% to €7.132 billion, according to data provided by the National Institute of Statistics (INE). The United Kingdom was the main country of residence, with 863,286 tourists and an increase of 3.6% compared to January 2024. 641,201 came from France (12.2% more) and 537,842 tourists from Germany…
CriteriaCaixa – the business holding of the Caixa Group, with stakes valued at €30 billion in a wide range of companies (Naturgy, Telefónica, ACS…) – and the ‘la Caixa’ Foundation have returned their headquarters to Catalonia almost seven and a half years after relocating to Palma. CaixaBank will remain in Valencia, where it moved during the same period. The Banking Foundation Caixa d’Estalvis i Pensions de Barcelona has agreed to…
José Luis Fernández Santillana, Director of the USO Studies Office | A job seeker is a person who registers with public employment services, either because they have lost their job and are looking for a new one (regardless of whether they are entitled to unemployment benefits), seeking their first job, or being employed (having a job) and looking for an improvement in their work situation (a broader or better-paid position),…