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Spanish economy 19th November 2020

Brussels Gives Green Light To Spain’s 2021 Budget, But With Some Quibbles

In the specific case of Spain, and with macroeconomic forecasts that are more pessimistic than the Spain’s government’s, Brussels called for a periodic review of the effectiveness of the measures implemented, without jeopardizing the medium-term sustainability of public accounts. Furthermore, the EC forecasts that debt will soar to 120.3% of GDP this year and to 122% in 2021. This compares with the Spanish government’s estimate in its budgets of 118.8% and 117.4% respectively.

Spanish economy, Spanish Small & Mid Caps 19th November 2020

ROVI’s Target Price To Rise By 6.5 €/shr To 36 €/shr After Moderna’s Vaccine News

Four months ago, Spanish ROVI reached an agreement with Moderna for the filling and packaging of its vaccine. Since then ROVI’s capitalisation has increased by more than €750 M (up 53%). So far this month alone, the stock price has risen by 27%. With a central scenario of about 550 M of Moderna’s vaccines per year outside the US and Japan, the unit income for ROVI would be 0.75 €/vaccine (3.5% higher than the total price of the vaccine) which means a T.P. rise of +6, 5 €/shr. (+22% vs. before) up to 36 €/acc.

Spanish economy 19th November 2020

Next Generation EU: A Golden Opportunity For The Spanish Economy

Javier García Arenas (Caixabank Research) | The NGEU European Recovery Fund has a significant budget and could have a major macroeconomic impact on the Spanish economy. The overview of the Recovery Plan presented by Spain reflects the country’s willingness to accelerate investment and outlines a number of relevant areas of action. The specific projects involved and the governance mechanisms for their selection and monitoring are not yet known.

Spanish economy 18th November 2020

The Spanish Government Expands The Anti-Take Over Bid Shield Iniciated Due To The Pandemic

The Government has approved the extension of the regulations on foreign investment with the aim of making it more difficult for foreign investors to take control of strategic Spanish companies that have fallen significantly on the stock market as a result of the Covid-19. The new issue of the measure, which was already in force, is to extend to EU investors plus the United Kingdom, Switzerland and Norway, the restrictions approved in March for non-EU investors.

Ibex, Markets, Spanish economy 17th November 2020

Santander Considers Cutting 4,000 Jobs While Hiking Capital To Execute Its Dividend Of 0.1 €/Share

The rights related to the bonus capital hike with which Santander will pay its next dividend, a final dividend of 0.1 euros/share charged against 2019 results, began to trade on the stock exchange this week. There are two options available to shareholders: 1) Sale of rights received free of charge, at the price at which they are trading on the market when they are sold. The trading period will be extended – officially- until 30 November. 2) Collection of the dividend in shares, receiving one free share for every 23 old ones.

Ibex, Markets, Spanish economy 17th November 2020

BBVA, Banco Sabadell In Talks Over Possible Merger

The combination of the two banks would give rise to the second Spanish lender by global business, behind Santander, with almost €1 billion in assets. The confirmation of these contacts came hours after BBVA announced the sale of its US subsidiary to the financial services group PNC for €9.7 billion and capital gains of 580 million. This could mean that BBVA would not need a capital increase to execute an operation involving a smaller rival.

Ibex, Markets, Spanish economy 17th November 2020

ACS, Acciona And Ferrovial Compete For €2.15 Bn Australian Railway Project

he three main Spanish infrastructure groups with a presence in Australia, ACS, Acciona and Ferrovial are in the final push for a new multi-million dollar project in the oceanic country. The companies are part of two of the three consortiums which have entered the bidding phase to execute the main works of the Inland Rail. This is the largest railway project in the country for 100 years. It consists of a high productivity freight corridor between Melbourne and Brisbane.

Ibex, Markets, Spanish economy 16th November 2020

Cellnex Buys CK Hutchison’s European Tower Business And Approaches The World Leader American Power

Cellnex has announced it will buy the Hutchinson towers in Europe for 10 billion euros. The operation will be paid partly in shares so that Hutchinson will acquire 5% of the Spanish group. Since its IPO five years ago, this has invested more than 25 billion euros in purchases. This latest operation with CK Hutchinson will position Cellnex with more than 100,000 towers closer to the world leader American Tower.

Spanish economy 16th November 2020

Spain To Acquire Around 20 Million Doses Of Pfizer Vaccine To Immunize About 10 Million People

Spain’s Health Minister, Salvador Illa, hopes that “this week or next”some more contracts can be signed with new pharmaceutical companies to acquire a future vaccine against Covid-19. These include Pfizer and Biontech. Last Monday, these companies announced that their vaccine is more than 90% effective, after the “success” of the first intermediate analysis of their phase 3 trial.

Spanish economy 13th November 2020

Spain’s Budget 2021: Improvable, But Far From Being The Worst Possible To Show A Responsible Country

Joan Tapia | Yesterday, the Spanish Parliament rejected, with a large majority the complete amendments to the 2021 budget. It is an important step towards political stability and the possibility of creating an economic policy to fight the crisis. From the economic point of view, the Budget may be substantially improved, but we have the government that we have, PSOE with Podemos. So the accounts for 2021 – in the midst of great world uncertainty – are far from being the worst possible.

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