Spanish economy

Acciona

How To Trade At A P/E Of 20 When Working Capital Is Negative

CdM | It is well known that in order to take a company public, it is advisable to hire a good press campaign, distribute some money among banks and underwriters, etc. But there are times when haste leads to a rush to force the machine and fall into ridicule. A Madrid business newspaper has published a report on the renewable energy companies expected to list on the Spanish stock exchange in the coming months, comparing the capital valuations of some with others that add capital and debt, which, to say the least, is misleading.



Bankinter

Bankinter And Its 20% “Super Dividend”: 1 Share of Línea Directa For Every Bank Share You Own

T.C. | Línea Directa Aseguradora (LDA) will finally be listed on the Spanish stock exchange on 29 April at a price of 1,317 euros per share, which means valuing the company at 1,434 million. Bankinter, the bank that owns the insurer, will hold 17.4% of the company and will give its shareholders one LDA share for each Bankinter share held on 28 April, the last day to take part in the operation.


Eurostat: 27 in every 100 Spaniards at risk of poverty

65% Of Spaniards Fear Losing Their Job

T.C. | Almost half of Spaniards (43%) say they are in poor financial health, compared to 31% before Covid-19. Moreover, the number of respondents who assign a failed grade to their fellow citizens’ financial health, rating it below five out of ten, has almost doubled from 49% to 81%. This makes Spain the country with the worst perception amongst the eight that took part in the survey. It comes below Turkey and a long way behind the Netherlands, the country with the best score in this respect. These are some of the main conclusions drawn from the financial health survey conducted by ING’s TFI Consumer Research in eight European countries.


telefonica

O2 and Virgin Media Merger Puts £5.5 Billion In Telefónica’s Coffers

T.C. | The Competition and Markets Authority (CMA), the UK’s competition regulator, has provisionally cleared the merger of O2, Telefónica’s UK mobile subsidiary, and Virgin, the cable group controlled by US-based Liberty Global, into a company – 50% owned by the two partners – valued by the market at around 45 billion euros (more than £38 billion) and which will become, along with BT, the UK market leader. If BT has 46.3 million customers, the new company will have 46.5 million (32.6 million mobile, 5.3 million fixed broadband, 4.9 million fixed voice and 3.7 million pay TV).


labour market

The Government Proposes Reducing Labour Contracts To Three In Its Recovery Plan

According to the document of more than 200 pages in which the reforms and investments of the Plan that the President of the Government, Pedro Sánchez, presented to the Parliament on Wednesday, the three types of contract would be ‘stable’ for all activities, another ‘temporary’ for those that are of this nature and one ‘training’ for insertion, in particular, in the labour market.


CostaDoradaok

Hunger Strike On The Costa Dorada

T.C. | Eduardo Abenojar, president of the Restaurant and Nightlife Association of Salou (a small tourist town 100 km from Barcelona, considered the capital of the Costa Dorada) began a hunger strike yesterday at 12.30 pm to ask the Generalitat to reopen his business because “we have neither help nor hope”.


CO2

Spain Reduced Its Emissions In The Carbon Market By 21% In 2020

T.C. | According to data from the Sustainability Observatory, Spain reduced its emissions in the carbon market by 21% in 2020 (13% in 2019) in a year marked by the covid19 pandemic, in which the emissions of all the major companies fell, albeit with very notable differences between them: ENDESA decreases by 45%, FCC, EDP or IBERDROLA by around 25%, while the oil companies REPSOL and CEPSA or the gas company NATURGY have presented smaller decreases. The fuel combustion sector has decreased by a historic 26% between 2020 and 2019 while the oil companies, for example, have only decreased by 8%.


spain technologies

The Role Of New Technologies In Spain’s Productivity

CaixaBank Research | New technologies have indeed favoured the growth of Spain’s labour productivity in the past and that they could do so again in this new technological era we are entering. An initial analysis of the relationship between the degree of penetration of new technologies and labour productivity shows that there is a positive correlation between the growth of the two variables in the past 20 years. In addition, this correlation appears to be more pronounced among economic activities in the services sector.


Acciona

Acciona: When The Subsidiary Is Worth More Than The Parent Company

T.C. | Acciona approved yesterday the spin-off of its green energy subsidiary, Acciona Energía, in order to float up to 30% of the capital of this subsidiary, which the press and some Spanish analysts want to value at 12 billion euros, although on 31 March Acciona’s capitalisation on the Spanish stock market was “only” 8 billion euros. The deal could allow Acciona to reorganise and reduce its debt, which currently stands at 6.858 billion euros, of which 2 billion euros matures this year.