Intermoney | Sacyr (Buy, Target Price 3,4 euros/share) has won the concession to improve and finish a dual carriageway running between the Colombian municipalities of Buga and Buenaventura, according to the daily Cinco Dias. The investment will be 900 million euros. The length of the new stretch of road is 128 km, and it will be complemented with other works and maintenance jobs on other roads, for a total of 244…
Intermoney | Last week, Iberia (IAG) and Viva Aerobus announced a code-sharing agreement for passengers travelling between Mexico and Spain. On the one hand, Iberia’s passengers who use the Madrid-Ciudad de México route will be able to take advantage of the network which Via Aerobus offers from that city. Meanwhile, on the other hand, those passengers who want to transfer to Madrid via Iberia will be able to connect with…
Intermoney | ACS (Buy, Target Price 40 euros) and Acciona (Buy, Target Price 245 euros) are finalists in the bid to build a new tram line in the city of Calgary, in Canada, involving an investment of nearly 4.2 billion euros. This amount was fixed in 2020, but will undoubtedly increase given the current rise in inflation. The tram line, which envisages crossing Calgary from north to south, will be 46 km…
Bankinter | Business evolution in the first half of the year is positive and Acciona’s results reflect solid progress in EBITDA (+65%) and in NAP (+36%). Acciona Energía is the main results’ growth driver thanks to a strong increase in average prices (+70%), along with a modest advance in capacity (+2%). The company’s infrastructure portfolio has reached a new record high after increasing by a further 14% in the first…
Bankinter |Meliá’s revenues recover pre-Covid levels and the strong capacity for price hikes at its hotels will allow for the increase in costs to be offset to a large extent. We foresee this trend extending at least over the coming months. For that reason, we are raising our recommendation to Buy. This is after tacitly lowering it to Neutral barely a month ago, given the doubts with respect to the…
Link Securities | Acciona has won a 258 million euros contract to design and build a sea water desalination plant in Chile, according to Europa Press. The new plant will be located in Puerto Patache de Collahuasi, 70 kms south of the city of Iquique. The project forms part of the “Infrastructure Development and Productive Capacity Improvement” plan for the mining company Doña Inés de Collahuasi (CMDIC)’s operations. It also…
Spain welcomed 7.5 million international tourists in June, more than tripling the figure recorded in 2021 of 2.2 million, according to the National Statistics Institute on Tuesday. Tourism spending in June totalled 8.933 million euros, up 271.3% year-on-year. The UK was the country of residence of the largest number of visitors to Spain, namely 1.8 million, representing 24.2% of the total and a 1.165,9% increase on June 2021. Germany and…
Last July 73,378 passenger cars and SUVs were registered in Spain, down 12.5% on the previous year and making it the worst July since 2012. Year-to-date sales are down 11% with a total of 481,135 units registered in 2022. Toyota, with 43,684 deliveries, leads the market. The new car registrations market in Spain is still in free fall and shows no signs of improving. In July, 73,378 passenger cars and…
Preliminary GDP for 2Q2022 shows +6.3% YoY growth vs +5.5% YoY estimated by market consensus. In quarter-on-quarter terms it shows +1.1% q/q vs +0.4% q/q estimated by consensus. Bankinter’s analysis team’s opinion:Preliminary data better than expected. After the slowdown in 1Q2022, the second quarter has been favoured by the recovery of Services activity and international Tourism. In our Q3 2022 Strategy we revise the projections for the year to +4.0%…
Unemployment fell by 255,300 people between April and June this year, the largest decline for a second quarter since 2018, and the number of unemployed fell below three million for the first time since 2008.Meanwhile, employment rose by 383,300 jobs between April and June, up 1.91% on the previous quarter, although this is lower than the 464,900 increase in workers recorded a year ago. At the end of June, the…