CdM| DWS Investment, Deutsche Bank’s fund manager, has raised a 3.26% stake in the capital of Sacyr, thus becoming one of the significant shareholders of the construction and concessions company. According to the National Securities Market Commission (CNMV) records, and as reported by Europa Press, the German fund manager’s operation translates into 22.3 million shares, valued at current market prices of €71.5 million.
Norbolsa | The bank will launch a digital platform for the sale of second-hand cars in the first half of 2024. In this regard, the company is finalising the creation of a digital platform for the sale of second-hand vehicles from a network of eight selected dealers that will cover the whole of Spain. This list of dealers will also be joined by Arval, a subsidiary of BNP Paribas that…
Eurozone private sector activity in December maintained the previous month’s pace of deterioration, extending the contraction to seven consecutive months, according to the composite purchasing managers’ index (PMI), which repeated November’s reading of 47.6 points in the last month of 2023, anticipating the risk of the eurozone entering recession. By contrast, as published yesterday by S&P Global, Spain’s services PMI rebounded from 51.0 points in its November reading to 51.5…
Link Securities | Telefónica’s most representative trade union organisations have reached an agreement to sign the Third Collective Bargaining Agreement for Related Companies, valid until 31 December 2026 and extendable for a further year, with the aim of moving towards a more digital, flexible company that is prepared for future challenges in a highly competitive context of profound transformation. This agreement will allow Telefónica, among other things, to continue its…
According to data provided by the Ministry of Labour, the number of unemployed people registered in the offices of the State Public Employment Service (SEPE) fell in December by 27,375 people (-1%). In year-on-year terms, unemployment fell in December by 130,197 people (-4.59%), to 2,707,456 people, the lowest figure for this month since 2007. These figures, however, should be qualified. According to the USO trade union, the tangle of data…
BancaMarch: Gasoline has said goodbye to 2023 in Spain at its lowest average price level in almost two years. Three days to go before the end of the year, petrol was averaging €1.532 per litre this week, the lowest level in 2023 and in almost two years, as only in the week of 20 January 2022 was the price lower than this. On the other hand, and still according to…
BancaMarch : Consumer spending continues to grow strongly in Spain. This morning retail sales for November were published, which advanced at a rate of +5.2% year-on-year, beating the +3.9% forecast. Moreover, the previous month’s figure was revised upwards by three tenths of a percentage point to +5.3%. With these figures, private consumption will continue to support activity at the end of the year.
Link| According to the final reading of the data, released by the National Statistics Institute (INE), Spain’s Gross Domestic Product (GDP) grew by 0.3% in 3Q2023 compared to the previous quarter, in line with its preliminary estimate and with the expectations of FactSet’s consensus analysts. In 2Q2023 GDP expanded 0.4% quarter-on-quarter. That of 3Q2023 is the lowest quarter-on-quarter growth rate achieved by Spanish GDP since 1Q2022. In 3Q2023, gross fixed…
The good performance of the stock market in the final stretch of 2023 has fuelled hopes of a recovery in IPOs in 2024, with eight Spanish companies awaiting the evolution of the markets to decide whether to place part of their capital with investors and stock market funds. A long list of Spanish companies are hoping to clear the hurdles to make their IPOs in the coming months: Puig, Hotelbeds,…
Link Securities| ACS (ACS) has formally started the sale process of its services subsidiary Clece. The banks that the group has hired to lead the divestment, Bank of America (BofA) and Société Générale, distributed the sale booklet (infomemo) among potential buyers last week, according to market sources and as reported by the digital newspaper elEconomista.es. Among the recipients are both funds and industrial groups specialising in service activities. The transaction…