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Spanish economy

unemployment office

Spanish economy 5th March 2024

Unemployment in Spain falls by 7,452 in February

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…

stock markets 777x400 1

Spanish economy 4th March 2024

Norwegian Pension Fund raises its stake in Spanish stock market to €12,407 M, up 23% from the previous year

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…

BOGAS

Interviews, Spanish economy 1st March 2024

“Spain has a good energy plan but if things don’t change, it won’t be fulfilled”

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…

aena barajas3CM

Spanish economy 1st March 2024

Aena say IAG’s takeover of Air Europa would strengthen Barajas hub and Spanish economy

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…

inflationCM copia

Spanish economy 29th February 2024

Inflation in Spain falls to 2.8% in February due to lower electricity prices; core inflation at 3.4%

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…

Spain seizes good moment in risk premium to issue 10 year syndicated bond

Spanish economy 29th February 2024

ICO to channel 40,000 million in loans from second part of Next Generation funds

The European funds will be used for the green and digital transition of companies, as well as to facilitate social housing and the audiovisual sector. The mobilisation will be carried out through five funds: ICO-Green (€22,000 million), loans to households, private and public companies for sustainable projects and energy efficiency, among others; ICO-Enterprise (€8,150 million, of which €1,000 million is earmarked for tourism) to strengthen the growth of companies, especially…

CAF Bombardier

Spanish economy 29th February 2024

CAF’s 2023 turnover to be €3,825m, up 21%, due to higher sales in both rail and buses

Norbolsa| The company presented full year results, with revenues exceeding estimates to €3.825M (21% versus FY22 and +4% against FY23e), thanks to higher sales in both rail (€3.006M versus €2881M) and buses (€819M versus €804M). Margins improved to an EBIT margin of 4.7%, in line with expectations, in what seems to be a recovery for Solaris. Net profit was +13% higher than expected at €89M (€77M FY23e), thanks to financial…

iag aireuropa

Spanish economy 27th February 2024

EC foresees significant competition concerns in IAG’s purchase of Air Europa

Banc Sabadell: The European Commission (EC) would see significant competition problems in the purchase of Air Europa by IAG (IAG), much more than in 2019, when the operation was initially considered, due to the greater weight of the Spanish market since then. It should be recalled that the EC communicated at the end of January that it was initiating a detailed investigation (phase II) into the proposed acquisition of Air…

industrial production worker

Spanish economy 26th February 2024

Spain’s industrial prices rise in January to -3.8%: energy up, non-durable consumer goods down

CdM | The annual rate of the general Industrial Price Index (IPRI) was -3.8% in January, 2.5 points above that recorded in December of the previous year. By economic destination of the goods, among the industrial sectors that had a positive influence on the evolution of the annual rate of the general IPRI, the following stood out: Energy, with a rate of -12.6%, eight points above that of the previous…

MobileWorldCongress

Spanish economy 26th February 2024

The 18th Mobile World Congress begins today in Barcelona

The welcome dinner of the 18th Mobile World Congress (MWC) 2024, the world’s largest mobile technology fair, brought together Felipe VI, the President of the Government, Pedro Sánchez, and the President of the Generalitat, Pere Aragonés, who, as in previous editions, did not participate in the reception of the Monarch as a gesture of rejection of the Crown. The Mobile World Congress (MWC), the most important technology congress in the…