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oil plataform

In the World 16th December 2024

Market continues to see some oil oversupply in 2025, pointing to Brent at around $73/b in January 2025 and towards $70/b by year-end

Renta 4 | The International Energy Agency’s (IEA) December oil report was published last Thursday, revising downwards its demand growth estimate for this year (+840k boe/d against 920k boe/d previously) and increasing it for 2025 (+1.1 million boe/d against +0.99 million boe/d previously) to 103.9 mln boe/d. It also published its estimate for total oil supply growth of +630k boe/d this year and +1.9 mln boe/d in 2025, to 104.8…

Acciona

In the World 13th December 2024

Acciona awarded construction and operation of desalination plant in US with investment budget close on €140 million

Intermoney | Acciona (ANA) (Buy, Target Price €180) and local company J.R. Filanc have won the design, construction, operation and maintenance of a new desalination plant that will supply drinking water to residences and businesses in South Orange County (California, United States), according to Expansión newspaper. The investment budget is around $140 million (around €132 million). The Doheny ocean desalination plant, to be located in the town of Dana Point,…

china exportaciones

In the World 12th December 2024

Despite more moderate exports, China’s trade surplus rises in November to $97.44 billion against $95.27 billion in October

Singular Bank : In November, China’s foreign sales moderated their pace of growth to 6.7% year-on-year (versus 12.7% in October). November usually follows a favourable pattern driven by the Christmas season, but overseas shipments barely increased by more than 1 p.p. in the month, a slower pace than usual at this time of year. At the same time, the lack of dynamism in domestic demand had an impact on imports,…

CAF

In the World 11th December 2024

CAF wins two new contracts in Latin America -Colombia and Chile- worth more than €200 million

Intermoney | The company (Buy, PO €42) strengthens its presence in Latin America with two new contracts in Colombia and Chile, which together amount to more than €200m. In the case of Colombia, it is a contract with the Medellín metro operator for the design and manufacture of 13 trains for its metropolitan network, as well as their final assembly and testing in the metro network; between 2008 and 2018…

china central bank

In the World 10th December 2024

China to adopt ‘moderately loose’ monetary policy in 2025 to support economic growth

Bankinter: China is to adopt a “moderately loose/lax ’ monetary policy in 2025 to support economic growth. This is the first strategic shift in monetary policy since 2010 towards a ‘prudent’ monetary policy. In addition, the Politburo announces the implementation of more proactive fiscal policies, in order to ‘vigorously’ boost consumption and expand domestic demand in ‘all directions’. Opinion of Bankinter’s analysis team: The Chinese government has five fixed monetary…

oil barrels

World economy 10th December 2024

OPEC to delay planned 180,000 bpd production hike by three months due to China’s economic slowdown

Bankinter: OPEC is to delay the planned production increase of 180,000 barrels per day by three months. This is positive, if not unexpected, news for oil. The current OPEC cuts amount to 5.86 million barrels of oil per day (bpd), which corresponds to around 5.7% of world oil demand. Within the aforementioned cuts, 3.66M bpd will be extended until the end of 2025 and the remaining 2.2M bpd will start…

mercosur UE

In the World 9th December 2024

Mercosur, “an economic opportunity and a political necessity” for EU, says Von der Leyen, but “an unacceptable pact” for France

Link Securities | The President of the European Commission (EC), Ursula von der Leyen, on Friday in Montevideo closed the trade agreement with the Mercosur countries that the European Union (EU) has been negotiating with this region for 25 years. The agreement is still flatly opposed by France, whose President, Emmanuel Macron, warned the day before that the pact in its current state “is unacceptable”, although he failed to stop…

ACS novisimo

In the World 6th December 2024

ACS, through Turner, forms part of consortium to build data centres for Meta in US for €9.5 billion

Intermoney | ACS (Buy, PO €48), through its US subsidiary Turner, is part of a consortium of contractors that will build a large data centre complex in the US state of Louisiana, which will require an investment of around €9.5 billion, according to Expansión newspaper on Thursday. Other developers involved in the project include DPR and Morterson. According to Turner, the new 122,000 square metre campus will be Meta’s largest…

China EEUU choque

In the World 6th December 2024

US launches third package of microchip restrictions, China bans export of certain rare earths and key minerals

Banca March: In the intensifying trade disputes between China and the US, the US has launched the third package of microchip restrictions and China has responded by banning the export of certain rare earths and key minerals. The Asian giant has focused its retaliation on blocking shipments of gallium, germanium, antimony and graphite to the United States. Germanium is used in semiconductors, infrared technology, fibre optic cables and solar cells….

Cyber Monday

In the World 5th December 2024

Cyber Monday online sales reach $13.3bn, increasing 7.3% against 5.8% in 2023

Bankinter | Cyber Monday online sales total $13.3 billion according to Adobe Analytics, increasing 7.3% against 5.8% in 2023. During the five-day period between Thanksgiving Day and Cyber Monday, online sales totaled $41.1 billion, 8.2% up on the same period last year. On these days, the National Retail Federation (NRF) estimates that total spending (physical + online sales) amounted to $235 billion, showing an increase of 3.5%. For the entire…