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pallete telefonica

Spanish economy 12th May 2022

Telefónica’s Revenues Increased By 3% (EUR 10.883 billion) While Earnings Fell By 20% (EUR 706 million) In Q1’22;Confirms Dividend

The group’s turnover amounted to 10.883 billion euros, an increase of 3.2%. By markets, Spain accounted for 28% of revenues, Hispam 20%, Brazil 18%, Germany 18% and the UK 14%. Operating income before depreciation and amortisation (Oibda) rose 2.1% to 3.753 billion euros, due particularly to Latin America, whose Oibda jumped 50%. Sales grew in all markets, such as Germany, the UK and Spain, and double-digit growth in Brazil and…

Acciona

Spanish economy 12th May 2022

Acciona Energía starts construction on the MacIntyre wind power complex, with 1.026MW capacity and an investment of €1.300 B

Intermoney | According to press reports yesterday, Acciona Energía (ANE) (Buy, Target Price 34 euros/share) has begun construction on the wind power complex MacIntyre. This is the largest one in Australia, with a total capacity of 1.026MW and an associated investment of 2 billion Australian dollars (1.3 billion euros). The MacIntyre complex consists of two wind farms: MacIntyre (923MW), owned by Acciona Energía (70%) and Ark Energy (30%), on which…

repsol

Spanish economy 11th May 2022

Orsted teams up with Repsol, Equinor with Naturgy, to develop offshore wind energy in Spain

Link Securities |European players Shell, Orsted and Equinor have turned their attention to Spain as a strategic objective for the development of their offshore wind energy. Each one of the companies has teamed up with a Spanish firm to participate in the mega auctions which are going to be held. Orsted has joined up with Repsol and Equinor has chosen Naturgy. Meanwhile Shell has just signed a strategic agreement with…

empleo oficina

Spanish economy 10th May 2022

In 2021, Spain Was The Country With The Highest Unemployment Rate In The EU For The 13th Consecutive Year

According to the III Labor Market Yearbook published Friday by the Adecco Group Institute, Spain added in 2021 its thirteenth consecutive year as the country with the highest number of unemployed in the European Union (EU). Thus, despite the fact that in 2021 all the employment lost in the pandemic was recovered, with a generalized fall in unemployment, Spain, which accounts for 9.2% of the population of the EU-27, had…

ACS

Spanish economy 9th May 2022

ACS wants all its Abertis’ shares in one place

Intermoney | ACS (ACS) (Buy, Target Price 40 euros) held its AGM last Friday. Chairman Florentino Pérez confirmed that the focus of the group’s future investments will be renewable energies via its joint venture with Vincí, and concessions, using both Iridium and Abertis. Perhaps the main novelty was ACS’ intention to bring together in one holding all its shares in Abertis. These are currently divided into 30% within the Group,…

OPEC cut to impact Spanish economy

Relevant News Item, Spanish economy 6th May 2022

Diesel At 2 Euros A Litre At 780 Spanish Petrol Stations

Fuel prices give no respite. The 20 cents per litre rebate that has been in force since 1 April has partially relieved the pockets of millions of Spanish drivers. But diesel and petrol prices continue to rise at Spanish service stations. Diesel, in fact, has broken a new record this week, reaching 1.872 euros per litre on average, surpassing the price of petrol for the fifth consecutive week. This is…

banco santander

Spanish economy 6th May 2022

Norges Bank Unveils A 3% Stake In Banco Santander

Norges Bank, the Norwegian bank in charge of managing the country’s sovereign wealth fund, has revealed a 3.006% stake in Banco Santander, a percentage it controls directly. This is according to the notification it sent Thursday to the National Securities Market Commission (CNMV). Norges Bank’s stake in Santander consists of direct control of 513.4 million shares which, at Thursday’s closing price of EUR 2.69 per share, implies a total value…

Acciona

Spanish economy 5th May 2022

Acciona will pay Globalvía for the arbitrage in Chile; the initial claim was for €128 M, but the figure could be a lot lower

Banc Sabadell | Acciona (ANA) and Globalvía have agreed that the former should pay Globalvía for the arbitrage which is open in relation to the Chilean motorway Ruta 160 (which the latter bought in from the former in 2017), according to the media. Although there are no details on the final price to be paid, Globalvía’s initial claim was for 128 million euros (~1% of Acciona’s capitalisation). That said, it…

ELECTRIC CAR

Spanish economy 5th May 2022

Seat Presents Its Alliance Of 62 Companies To Lead The Electric Car

Seat wants to turn Spain into a platform for the electric car in Europe. This plan includes the electrification of its Martorell and Pamplona factories, a battery production ecosystem – ranging from lithium mining, a key material, to a giant battery factory in Sagunt -, locations for electric components and a training, digitalisation and circular economy plan. This is explained in the “Future: Fast Forward” project, which brings together an…

Employment November

Spanish economy 5th May 2022

Spain Reaches 20 Million Employed While Temporary Employment In The Public Sector Reaches 32% Vs 22% In The Private Sector

April leaves 184,577 more contributors to the Social Security system in Spain and 86,260 fewer unemployed. This usually corresponds to a traditionally positive month for employment when it coincides with the Easter holiday period, with its good impact on jobs. The average number of affiliated members in April exceeded 20 million (20,019,080 people) and the number of unemployed fell to three million (3,022,503 unemployed). That said, we continue to lead…