Top Stories

Spanish economy

ence 2

Spanish economy 3rd January 2025

Ence updates decarbonisation plan and raises absolute emissions reduction target to 75% by 2035

Alphavalue / Divacons | The paper and energy group has updated its Decarbonisation Plan by increasing the level of reduction of Scope 1 and 2 emissions by 2035, setting targets for 2030 as an intermediate milestone and also incorporating targets to reduce indirect Scope 3 emissions. Specifically, the company, based on the 2018 financial year, increases the level of ambition of the target set for 2035 from a group-wide reduction…

endesa novisimo

Spanish economy 3rd January 2025

Renewable energy connected to Endesa’s grid exceeds 30 GW, enough to supply almost 20 million homes

CdM | Endesa, through its network subsidiary, e-distribución, has exceeded 30 GW of distributed renewable capacity connected to its distribution grid, enough to supply the consumption of almost 20 million homes and avoid the emission of close to 30 million tonnes of CO2. These are installations of small and medium-scale renewable energy producers and self-consumption which, in recent years, have been increasing their weight on the renewable generation map in…

vivienda españa

Spanish economy 27th December 2024

Mortgage lending accelerates in Spain: mortgages taken out grow 60.8% year-on-year in October

BancaMarch | Mortgage lending is accelerating in Spain. According to figures from the National Statistics Institute (INE), October was a historic month with a strong increase in mortgage activity. In October the number of mortgages taken out on homes grew by no less than 60.8% year-on-year (51,535 mortgages), making it the month with the highest number of mortgages granted since September 2010. The average amount of these operations stood at…

Spain EUFunds

Spanish economy 26th December 2024

Spain grows 3.3% year-on-year in 3Q24, but moderation expected in 4Q24 with added difficulty of DANA impact

Bankinter: 3Q GDP (final) grows 3.3% year-on-year (versus 3.4% year-on-year preliminary and 3.2% previous),while in quarter-on-quarter terms confirms 0.8% quarter-on-quarter preliminary (and 0.8% previous). Link to the document. Analysis team’s view: Our estimates for the year anticipate 3.1% year-on-year growth, following the strength confirmed in the first 9M of the year (with a slight year-on-year change in Q3, but maintaining 0.8% quarter-on-quarter and projecting 2.2% year-on-year for 2025. We estimate…

enagas logo

Spanish economy 23rd December 2024

Enagás: ICSID agrees with Enagás in dispute with Peru over GSP and recognises compensation of €186 million

Bankinter | The International Centre for Settlement of Investment Disputes (ICSID) has ruled in favour of Enagás in its litigation against Peru and has ordered the South American country to pay Enagás $194m (€186m) for the proceedings initiated in relation to the Gasoducto Sur Peruano (GSP) project. Enagás filed for arbitration to recover its investment in the GSP after the Peruvian government terminated the gas pipeline concession on 23 January…

Telefonica central

Spanish economy 23rd December 2024

Telefónica begins sale of up to 40% of stake in British fiber for €1.2 billion

Telefónica has started distributing the sale documents for the fiber optic company it shares with Liberty Global in the UK through the operator Virgin Media O2 (VMO2). The company’s goal is to raise around €1.2 billion by placing between 20% and 40% of its infrastructure company. According to Mergermarket, the aforementioned Hispano-British NetCo could be valued between £4 billion and £5 billion (€4.8 billion and €6 billion), in a deal…

amadeus logo fachada

Spanish economy 20th December 2024

Amadeus to pay interim dividend of €0.50/share on 17 January; total amount in 2024 expected to be €1.32 vs. €1.24 in 2023

Intermoney | Amadeus (Hold, PO 65 €) announced yesterday, with the market open, that it will distribute to its shareholders an interim dividend of €0.50/share on 17 January. The stock will trade ex date on 15 January. The Group reiterates its dividend policy of a pay-out of between 40 and 50% of consolidated profit for the year. Specifically, for 2024, the Board of Directors expects to be close to the…

bankinterchuliCM

Spanish economy 19th December 2024

Bankinter complies with binding MREL of 20.31% of total risk exposure and 6.39% of leverage ratio exposure

Link Securities | The Bank of Spain (BdE) has informed Bankinter that the Single Resolution Board, as the group’s resolution authority, has taken a decision determining the minimum requirement for Total and Subordinated own funds and eligible liabilities (MREL) for Bankinter. This decision sets a binding total MREL requirement, to be met as from its notification, at the consolidated level, of 20.31% of the Total Risk Exposure Amount (TREA) and…

banco sabadell

Spanish economy 19th December 2024

Sabadell complies with BdE’s minimum requirements for own funds and eligible and subordinate liabilities

Link Securities | Banco Sabadell (SAB) has been notified by the Bank of Spain (BoE) of the decision adopted by the Single Resolution Board (SRB) on the determination of the minimum requirement for own funds and eligible liabilities (MREL) and the subordination requirement on a consolidated basis applicable to it. The requirements to be met, with immediate effect, are as follows: The minimum MREL requirement is 22.14% of the total…

Corporacion alba

Spanish economy 17th December 2024

Corporación Financiera Alba’s delisting offer exceeds company’s 2007 all-time high of €60.70

Alphavalue / Divacons | As we highlighted on Friday, the March family agreed to delist the Spanish holding company through a takeover bid at a price of €84.20/share in cash, which represents a premium of 79.5% over the closing price of €46.9/share. This offer exceeds the all-time high reached in 2007 (€60.70). The takeover bid will be presented by the company together with Carlos March Delgado and his company Son…