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Spanish economy 11th May 2021

The “Good” PSOE-UP Government: “We Will Never Again Tell People That They Have To Tighten Their Belts”

T.C. | Labour Minister Yolanda Díaz, whom Pablo Iglesias has designated as his successor in the (third) vice-presidency of the Government, yesterday presented the plans for the labour reform she intends to push through before year-end. With or without the agreement of the so-called “social partners”, i.e. trade unions and employers. “The labour changes will be published in the BOE before the end of 2021. Prime Minister Pedro Sánchez and…

Pedro mascarilla españita

Spanish economy 10th May 2021

Spain: Early Elections Due To Coalition Exhaustion?

Fernando González Urbaneja | The first reaction of the socialists after the Madrid elections was to distance themselves, almost indifferent, with the argument that Madrid is not Spain. That was the end of it. But it did not hold water. Third in Galicia, opposition in Catalonia, minority in the Basque Country, opposition in Andalusia… and third in Madrid. So much for a governing party. And too much to sustain the…

mergers and acquisitions

Spanish economy 10th May 2021

The Value Of Mergers And Acquisitions In Spain Rises 190% Through May

The Spanish transactional market recorded 738 operations in the first four months of the year, 3.8% more than in the same period of the previous year, with an aggregate value of 40,706 million euros, up 190%, according to a report by TTR.he real estate sector was the most active of the year, with 151 transactions, followed by the technology sector, with 145.

caixabank sunset

Spanish economy 7th May 2021

Spain’s Big Banks Earned 7.8 Billion In Q1’21, Half Due To Caixabank-Bankia Merger

T.C. | The five big Spanish banks posted net profit of 7.825 billion euros in the first quarter of this year, compared with a loss of 1.053 billion in the first quarter of 2020, when they made provisions of 3.9 billion to deal with the coronavirus crisis. It should be noted, however, that without the effect of the Caixabank / Bankia merger, the Q1’21 profit would be considerably lower at…

spain construction sector

Spanish economy 6th May 2021

The Construction Sector Wants To Attract 200,000 Workers On Temporary Layoffs From The Hospitality Industry

The construction sector aims to take in workers who are currently on temporary lay-offs and who work in the tourism or hotel and catering sectors in order for them to be trained in the new techniques that are already being used in construction. In contrast to the evolution of these two sectors, still heavily affected by the pandemic and with companies in difficulties that could lead these workers to permanent unemployment, the construction sector has already recovered all the employment lost since the outbreak of the health crisis and even surpassed it.

Inditex results

Spanish economy 4th May 2021

Inditex Enters The Cosmetics Business With Zara Beauty

T.C. | The world leader in the textile sector, Inditex, today announced its foray into the world of cosmetics from Wednesday 12 May, with the launch of a new cosmetics line, Zara Beauty. It “will be integrated as another section and will be available online in all European markets, USA, Canada, China, South Korea, Japan, Mexico, Australia and New Zealand.” Later, it will be incorporated in all countries and have…

SAN BBVA

Spanish economy 4th May 2021

A Santander-BBVA Merger Would Be Lower Risk Than Other European Banking Operations, According To A&M Firm

A hypothetical merger between Banco Santander and BBVA would mean the largest merger in European banking. It would also have a high return on investment and low integration risk, according to the services firm Alvarez & Marsal and reported by Europa Press. In its latest report called ‘The Pulse of European Banking’, the firm has analysed merger and acquisition opportunities amongst the major European banks in terms of investor return,…

intermediate sectors construction

Spanish economy 3rd May 2021

Taking Stock Of The «Intermediate» Sectors In Spain

Oriol Carreras Baquer (CaixaBank Research | We are all well aware that the impact of the pandemic has varied widely from sector to sector. Those linked to tourism and leisure have suffered disproportionately. At the other end of the spectrum, some sectors, such as agriculture, forestry and fishing, or public administrations, education and health, have seen their activity increase during the pandemic. In this article, we focus on all the other sectors: the ones which, while having been dealt a heavy blow, have suffered less than those hardest hit. We will call them the «intermediate» sectors.

Madrid Stock Exchange revision

Spanish economy 30th April 2021

The Spanish Stock Market, One Of The Most Undervalued In Europe. It is Trading At A 30% Discount To The MSCI Europe

T.C.| Yesterday, the Spanish stock market closed at a twelve-month high, with the selective Ibex 35 above 8,800 points. The good results of some of the companies that have already presented their first quarter figures (Santander, Repsol, Naturgy, Indra, Viscofan…) pushed the index but did not prevent, as Morgan Stanley analysts explain, “Spain continues to have negative EPS (Earnings Per Share) and DPS (Dividends Per Share) revisions relative to the market… although it continues to trade at a 30% discount to the MSCI Europe”, when “the historical average is 20%, making it one of the most undervalued countries in the region”.