BARCELONA | By Joan Tapia| The crisis and recovery start management in Spain could be clearly improved. As a consequence, the economic confidence index stands at a gloomy 30.8 in December but have increased by 41% regarding 2012’ same month, while political sentiment is even lower at 27.1 and continues falling.
MADRID| By Francisco López| Spain’s banking sector wholesale maturities will reach € 88,000 million in 2014 and € 72,000 million in 2015. Experts forecast that more than half will be financed via foreign markets.Only BBVA estimates to sell around € 7,000 million in bonds and covered bonds.
MADRID | By Luis Arroyo and Tania Suárez | Credit is still stagnant in Spain and neither companies nor families are able to access money. According to the Bank of Spain, the development of credit in the country is still falling. The conclusion is that there is an insufficient banking money supply with a still very high fall rate.
NEW YORK | By Ana Fuentes | Spain is coming back stronger the playing field, according to JPMorgan. In a report titled ‘Spain is back’, released on Friday, the financial institution predicts that the Southern European economy will grow by 1 per cent on 2014, based on “encouraging” results in industrial production, exports and consumer spending and confidence.That is 0.3% more than what the Spanish Government itself expects, 0.5% more than both S&P and the European Commission forecast and 0.8% more than the IMF experts said in October.
MADRID | By Francisco López | The risk premium has moved from being a huge torment for Spanish decision-makers, to making headlines showing a recovery of the international confidence in Spain’s economy. The interest rate of the Spanish 10-year bond is at its lowest since 2009, the differential with Germany is around 190 basis points and Ibex 35 widely exceeds 10,000 points.
MADRID | By The Corner Team | The General Retail Trade Index annual change at constant prices stood at 2.0% in November, two points and a half higher than that registered in October.
MADRID | By The Corner Team | The Spanish current account balance recorded a surplus of EUR 1.7 billion in October, after September’s small surplus of 0.1bn. Foreign trade is helping the recovery, helped by better competitiveness and domestic demand weakness.
MADRID | By Francisco López| By the end of November 57.6 millions of international tourists had arrived Spain with British, German and French leading the visits. It mean a 5% increase over the same period of 2012, but domestic demand still burdens results.
MADRID| By Fernando González Urbaneja| The Spanish banking industry has a very solid position and it is not easy to win market share from it. Citi, Barclays, BNP, all of them with commercial experience and financial muscle failed in the attempt. Now it is the turn of Venezuelan Banesco, which has just acquired Spanish bank NovaCaixaGalicia (NCG), stemmed from the country’s financial system restructuring and intervened by the state since October 2011, at €1.000 million.
MADRID | By Carlos Díaz Güell | Despite the Spanish residencial housing market weakness, main offer and demand variables are seemingly beginning to stabilize, pointing that real state starts and sales will reach a minimum level in 2013.