Spanish Economy News | The Corner .eu

Spanish economy

Spanish economy 9th April 2014

Spanish housing market 180º turn

MADRID | By Julia Pastor | The wretched Spanish housing market has been giving timid but solid signs of recovery. Last data point to an investment increase of 60% to €4 bn which will mainly be led by international investors, as appraisers at Spanish Tinsa reported. Meanwhile, midcap Colonial symbolizes the falling as well as the revival of national property sector thanks to a new debt refinancing contract signed partly with sovereign funds and a capital increase entered by foreign investors.

Spanish economy 4th April 2014

Spain reaches surplus for the first time in 15 years

MADRID | By Julia Pastor | When the crisis began in 2007 Spain’s external deficit was over 10% of GDP. It was along with U.S the highest in the world. The country’s economy, however, closed year 2013 with financing capacity for the first time since 1998, reaching to 1.5% of GDP and amounting €15.6 bn. This means Spanish external position shifts direction, thus being capable not only of paying its debt but also generating money for other countries to lend.

Spanish economy 3rd April 2014

4.8 million of Spanish jobless, unacceptable for 4th EZ economy

MADRID | By Francisco López | Figures of March’s unemployment in Spain are clearly good, although talking about a trend change in labour market seems sort of unwise given current indicators of growth, deficit and debt. Therefore, Spanish Ministry of Economy Luis de Guindos anticipated a modification of the economic estimations that will be sent to the European Comission before the end of April.

Spanish economy 31st March 2014

Spain sees sovereign debt interests go down by 50%

MADRID | By Julia Pastor | Spanish public Treasury will have its weekly appointment with investors on Thursday. This time the country will issue bonds with maturities of 5, 10 and 12 years, respectively. There would be nothing unusual about it if international investors’ appetite for the Spanish sovereign debt were usual. However, interests in national treasuries currently reach levels of the 90’s when, before euro’s introduction, those bought Spain’s debt during seven quarters without a break. The institution even considers the possibility of creating 50 years bonds. At this moment, the Spanish 10 years bonds yield under 3.25%. As the summer comes the benchmark debt could stand at around 3%.

Spanish economy 30th March 2014

Repsol is to attract more sovereign funds to Spain

MADRID | By Julia Pastor | Spanish oil company Repsol could sell two block of shares reaching 10% to sovereign funds. The presence of this kind of investors in Spain is not new, much less in strategy sectors such as energy, but the point is that corporate managing teams have allowed those to enter their capital and look under the rug. Furthermore, sovereign funds’ investments criteria such as will of permanence, long term view and sustainability are always good news for a firm. Singapore’s Temasek fund already holds 5% of Repsol, while Qatar’s has also participation in other national energy companies. Therefore, both would have more options to be those packages’ next owners.

Spanish economy 25th March 2014

It’s raining (Spanish debt), man!

MADRID | By Francisco López | Spanish debt’s low interests in the beginning of the year have resulted in a flood of Treasuries as well as corporate and regional bonds. Just last week, the country’s public Treasury placed more than €8 billion and financed 33% of € 133.3bn foreseen by the end of 2014 in less than three months.

Spanish economy 17th March 2014

Spain’s housing market at cruise speed

MADRID | By The Corner Team | Spanish real state sector stands at its adjustment final stage is an oft-repeated mantra in the country’s analysts firms. After five years of hard recession, some signs of slow recovery are increasingly growing. Last outstanding figure is year-on-year upturn of +59.2% in properties’ selling and buying in January, as reported by Spain’s General Council of Notaries. National housing market would become an attractive investment opportunity again in 2014.

Spanish economy 5th March 2014

Spanish Santander’s long-term debt rating sees one notch rise

MADRID | By Julia Pastor | Moodys considers that the biggest euro zone bank Santander has sufficiently diversified its sovereign risk and it has become stronger to face operating risks in Spain, thus increasing entity’s long-term credit in one notch, from Baa1 to Baa2. According to BEKA finance’s analysts in Madrid after this improvement Spanish economy’s risk profile will not be anymore the main and almost only variable limiting Santander’s rating to soften. The bank got a big boost which and announced a €1.5 billion issue of convertible bonds to reinforce its capital.

Spanish economy 28th February 2014

Sacyr and Panama Canal’s affair to end with “conceptual agreement”

MADRID | By Julia Pastor | Come to peace terms has not been easy for Spanish company Sacyr and Panama Canal Authority. The pre-deal tacitly accepted by both parties mid February suffered a little setback some days later when hesitations of the project insurer as well as Spanish government’s prevented to sign the contract. On Thursday, the pre-deal became a “conceptual agreement” that hopefully will put a real end point to such a prolonged and complex diplomacy affair.

Spanish economy 28th February 2014

Spain regains €136 million with first steps of Bankia’s privatisation

MADRID | The Corner Team | Bankia’ listing in Madrid Stock Exchange was cancelled up to 10 A.M on Friday. One hour later it was known that Spain sold 7.5% of the entity’s capital announced on Thursday at a value of 1.51 euros per share, which amounts a total of €1.3bn and also a discount of 4.4% against yesterday’s closing prices. Furthermore, the sale allows Spain to earn €136 million. With figures aligning with analysts’ estimations, the start of Bankia’s privatisation proves external confidence in Spanish financial sector recovery.

« 1 … 297 298 299 300 301 … 337 »