Renta 4: The fall from the highs of 2022 has developed in five bearish waves, stopping at €100, leaving historical oversold readings, as well as significant bullish divergences, typical of a rebound of some importance. We would expect a recovery of at least 38% of the fall, which would coincide with the resistance zone formed by the December highs at €139, levels close to the analysts’ consensus targets. The support…
The National Court judge Manuel García Castellón has proposed to put BBVA and its former president Francisco González on trial for bribery crimes in degree of continuity, in addition to disclosure of secrets, for hiring the police commissioner José Manuel Villarejo to carry out various illegal assignments between 2004 and 2016. In an order of 268 pages, the head of the Central Court of Instruction Number 6 concludes the investigation…
Link Securities | CVC Capital Partners has joined Apax and Bain Capital as a candidate to buy Minsait, Indra’s technology subsidiary, which together could be worth up to €1.8 billion, as reported yesterday by ElConfidencial.com. Cinven has already shown its interest in acquiring the payment media division, a deal that could be worth between €600 and €700 million. According to these sources, these international private equity firms have already officially…
Bankinter: The capital gain amounts to approximately €250M. The proceeds of this transaction will be used to reduce debt. Grifols and Haier undertake not to transfer SRAAS shares for a period of 3 years. In relation to Grifols Diagnostic Solutions (GDS), in which SRAAS holds a 40% stake and Grifols a 60% stake, provided that Haier holds a 10% stake in SRAAS in 2024-2028, Grifols has committed to (i) achieve…
Spain has managed to avoid the EU’s excessive deficit procedure by committing to reduce the deficit to 3% this year (compared to a 3.6% public deficit in 2023) but has not been able to avoid the European Commission’s demands for a long list of actions, some of which have already been committed, because “deficit and debt levels remain high, requiring further measures to consolidate the fiscal position and correct risks…
Norbolsa | The National Markets and Competition Commission (CNMC) warned that the government may impose new requirements that comply with the rules in the third phase of the analysis of the takeover bid. In addition, the chairwoman, Cani Fernández, denied having suffered political pressure in the first weeks of the operation. She was also asked about the SME segment, and the chairwoman recalled that in the Bankia-CaixaBank merger this exposure…
Intermoney | CAF (Buy P.O. €42) informed the National Securities Market Commission (CNMV) on Monday that it had reached an agreement with Metro Madrid, for the supply of the first of the two lots that make up the operator’s investment in the renewal and expansion of its fleet. The contract consists of 40 single-voltage gauge trains for lines 6 and 8 of the network and is worth around €400 million….
Spain received 38.7 million passengers in the first five months of the year, which is 13.6% more than in the same period of 2023, according to data published today by Turespaña, which highlights the good performance of distant markets such as Canada, China and Chile, with increases of more than 35% in the month of May. In the fifth month of the year, the good trend of the beginning has…
Oriol Aspachs (Caixabank Research) | The objective has been identified and diagnosed for some time, but it is difficult to achieve. It requires patience, public and private resources, and determination and cooperation between the different institutions and agents involved, precisely because the challenge is enormous. The Spanish economy is growing dynamically, but it is difficult to sustain in the medium term. To a large extent, it is sustained to a…
IAG’s latest proposal to take over Air Europa, submitted to the European Commission on 10 June, has increased from 40% to 52% the Air Europa capacity it would cede to other airlines (remedies) to meet the requirements of the Directorate General for Competition. The increased remedies package is the final one before the verdict of the EU authorities. It is a response to the objections report delivered by the Directorate…