Top Stories

Spanish economy

utilities electricas

Spanish economy 27th May 2025

Competition authority plans to charge electricity companies 6.5% for networks and 6.4% for gas for next six years

Banco Sabadell : According to press reports, and confirming rumours that have been appearing in the press over the last month, the National Markets and Competition Commission (CNMC) is moving forward with its decision to approve a 6.5% remuneration for electricity distribution networks and 6.4% for gas for the next six years. Assessment: As for electricity, although the news is negative, it was already known that the proposal being considered…

Caixabank, Telefónica, El Corte Inglés or Iberdrola, the Spanish firms best prepared to confront 2019

Spanish economy 27th May 2025

Spanish companies lose competitiveness due to labour and tax regulations, according to World Bank

Labour regulation, the high tax burden, and the scarcity of qualified workers are the main obstacles to the growth of Spanish companies compared to others in the major global economies. This is reflected in the report “The Business Environment and the Private Sector in Spain” presented yesterday by the World Bank, after conducting a series of surveys in recent months among Spanish companies of all sizes and sectors. Especially those…

banco sabadell palmeras

Spanish economy 26th May 2025

Blackrock raises stake in Banco Sabadell to over 6.70%

Link Securities | National Securities Market Commission (CNMV) filings unveiled a new increase in US fund manager BlackRock’s stake in Banco Sabadell, Expansión newspaper reported. The latest purchases uncovered by the regulator have raised its weight in the bank’s capital to over 6.70%. In its previous notification, issued yesterday, the world’s largest asset manager had reported a 6.688% stake. According to CNMV records, the current 6.701% represents its highest stake…

Spanish banks

Spanish economy 23rd May 2025

Bank of Spain Director of Economics resigns after presenting annual report

Ángel Gavilán, the Director of the Economics and Research Department at the Bank of Spain, has resigned after presenting – out of loyalty – the first Bank of Spain report with former minister José Luis Escrivá as the new governor. It was known that the presented report had omitted the widely shared concern about the Spanish pension system, which, after the reform launched by Escrivá himself, faces increasing expenses and…

telefonica edificio

Spanish economy 22nd May 2025

Telefónica sells all shares in Telefónica Móviles del Uruguay to Millicom for €389 million

Link Securities | On Wednesday Telefónica Hispanoamérica, S.A., a wholly owned subsidiary of Telefónica (TEF), reached an agreement for the sale to Millicom Spain, S.L. of all the shares it holds in Telefónica Móviles del Uruguay S.A., representing 100% of its share capital. The transaction amount (firm value) for this company is $440 million (around €389 million at the current exchange rate), and the corresponding price is subject to the…

espana servicios hosteleria

Spanish economy 21st May 2025

Spanish Social Security system gains 229,742 employed persons up to middle of May, closing in on 21.8 million mark

CdM | Social Security enrolment has increased by 229,742 employed persons in the first half of May, to 21,783,878 contributors in the daily series of affiliates, a new record figure, according to data published on Tuesday by the Ministry of Inclusion, Social Security and Migration. In the seasonally adjusted series, 21,557,126 affiliates have been reached in the first fortnight of May, thanks to the increase of 45,531 affiliates in the…

Puig

Spanish economy 21st May 2025

Puig Brands claims 31% loss of value since IPO due to evolution of sector, not business operations

Link Securities | Marc Puig, president and CEO of Puig Brands, attributed the 31% loss of its share price since its IPO on 3 May 2024 to market doubts about the evolution of the sector, and not to the operation of the business, Expansión reports today. He believes this is due to the market’s assumption that the sector will be affected by increased uncertainty, something that was not foreseen last…

Spanish economy general

Spanish economy 20th May 2025

Spain to grow 2.6% in 2025 after public debt (103.5% of GDP) increases 3.3%

The Bank of Spain (BoE) published yesterday that the debt of all public administrations in Spain rose in March to €1.667 trillion. Compared to February, Spanish public debt grew by 1.3%, which represents an increase of €21.263 billion. In the last 12 months, Spanish public debt has grown in absolute terms by 3.3%, equivalent to €52.729 billion. This figure contrasts with the 2.6% growth expected for Spanish GDP by the…

catalana occidente nueva 2

Spanish economy 19th May 2025

CNMV admits Inocsa’s takeover bid for 100% of Grupo Catalana Occidente shares to be processed

Link Securities | The National Securities Market Commission (CNMV) has adopted on 16 May 2025 the resolution to admit for processing the voluntary takeover bid for 100% of the shares of Grupo Catalana Occidente (GCO), considering that the prospectus and other documents presented, after the complementary documentation registered on 7/05/2025, are in accordance with the provisions of the regulation. The admission of the aforementioned application for processing does not imply…

aena barajas3CM

Spanish economy 19th May 2025

Aena passenger numbers accelerate to 6.3% in April, 5.2% increase accumulated so far this year

Bankinter | Passenger numbers accelerate to 6.3% in April (year-on-year) compared to 4.2% previously, supported by the ‘Easter effect’. Aena airports recorded 27.2 million passengers in April. This represents an increase of 6.3% year-on-year, compared to 4.2% in the previous month. This brings the cumulative increase for the year to date to 5.2%, compared to 4.7% previously. Bankinter analysis team’s opinion: Good news for Aena. Airport traffic continues to break…