Yesterday, Wednesday 3 April, the window for filing online personal income tax returns for 2023 opened. The campaign will run until 1 July and 23,281,000 returns are expected to be filed, 1.2% more than last year. Of these, almost 63% – 14.6 million, 3% less – are expected to be entitled to a refund, for an estimated amount of €11.65 billion. On the other hand, the Treasury estimates that more…
The new plant in Cartagena (Murcia), in which €250 million have been invested, has a production capacity of 250,000 tonnes per year, processing some 300,000 tonnes per year of organic waste, such as used cooking oil and food waste, among others. It can produce renewable diesel and sustainable aviation fuels (SAF), which can be used in any means of transport: cars, trucks, buses, ships or planes, taking advantage of existing…
Intermoney| The INE (National Institute of Statistics) published the data on tourist arrivals in Spain in the month of February on Tuesday, with more than 5 million international tourists, exceeding by +16% the data of 2023 and +14.4% those of 2019. Moreover, the average expenditure per tourist increases by +8.5% vs. Feb ́23 and +27% vs. Feb ́19. The main countries of residence of tourists visiting Spain in January were:…
Renta 4| According to press reports, Renfe could have started the procedures to execute the €166 million sanction on Talgo for the delay in the delivery of 30 AVE trains. The latest news in this respect pointed to a first delivery of 10 trains from 8 April, 10 more by the end of the year, and the remaining 10 in 2025. Assessment: If the news is confirmed, it would have…
The number of unemployed fell in March by 33,405 (after going down by 7,452 in February and 48,760 in the same month last year). The number of unemployed now stands at 2.73M (-1.2% month-on-month and -4.7% year-on-year). Seasonally adjusted Social Security affiliates increase to 21.03M people (+0.4% month-on-month and +2.4% year-on-year). For Sara García, Secretary for Trade Union Action and Employment of the trade union Unión Sindical Obrera (USO), “we…
On Monday, 1 April, the price of electricity on the wholesale market was €0 for ten hours and for another three it was negative for the first time in the history of Spain. Specifically, the megawatt hour (MWh) was quoted at €-0.01, according to the Iberian Energy Market Operator (OMIE). However, the reality is that the price of energy on the wholesale market is only one of the factors that…
Morgan Stanley| Stephen Byrd has identified an important mismatch between the rapid growth of Generative AI energy needs and the more moderate growth of grid infrastructure. In this regard, he highlights that there is a significant growth and revenue capture opportunity for companies that can meet these energy needs. Specifically, it has identified 13 stocks with an Overweight (OW) recommendation that would benefit from this dynamic, including Iberdrola (IBE).
Javier Hernani (CEO of Bolsas y Mercados Españoles)| In Spain alone, in the last decade, the markets have channelled €217,000 million worth of financing to companies in the form of capital, which gives a clear indication of their importance. If we add the contribution of fixed income, which includes Public Debt, the figure rises to €1.5 trillion channelled through the markets managed by BME. This is equivalent to many business…
Intermoney| The rating agency Standard & Poor’s (S&P) has raised the rating of Merlin Properties (Buy, PO €12) from BBB to BBB+ and endorses the strategy of the REIT, which involves strengthening its position in data centres and logistics in the coming years, according to Expansión newspaper. For S&P, the REIT has maintained “solid” credit indicators despite the headwinds of the last two years thanks to its “prudent financial policy”…
Alphavalue/Divacons| Iberdrola has filed a complaint against the oil company, accusing it of greenwashing, El País reported on Tuesday. Iberdrola is suing Repsol for distorting reality by exaggerating its biofuels efforts to the public and presenting itself as a leader in the energy transition, while 99.4% of its revenues come from non-renewable energy. Iberdrola: Add, Target Price €13.1/share. Repsol: Add, Target Price €17.8/share.