Link Securities | The Department of Commerce reported that the US trade deficit stood at $140.5 billion in March, reaching a new monthly record and exceeding the $132.4 billion projected by the FactSet consensus of analysts. In February, the trade deficit stood at $123.2 billion. In March, imports rose 4.4%, reaching a new all-time high of $419 billion, as many customers brought forward purchases in anticipation of the upcoming tariff…
Bankinter | Non-Farm Job Creation (April) beats expectations, but revises downward from previous record: 177K against 138K expected and 185K previous. Unemployment Rate repeats at 4.2% as expected and Average Wages/Hour remain at 3.8% year-on-year versus 3.9% year-on-year expected. Bankinter’s analysis team’s view: The data as a whole is consistent and, therefore, positive in the current context in which the US economy finds itself. The labour market continues to show…
Bankinter | OPEC agrees to increase production in June by 411,000bd. As a reference, in April OPEC increased its production by 138,000bd and 411,000bd in May. Therefore, it introduces this amount for the second consecutive month. OPEC has the objective of bringing 2.2Mbd to market and, if this increase is maintained, it would achieve its objective in September this year, compared to July 2026, as predicted in April. As a…
Link Securities | Indra Air Traffic, a US company of the Indra group (IDR), has won a contract with the US Air Force to renew the military Man-Portable (MP) TACAN air navigation systems, with a spending ceiling of $198m and a completion period until 2032, according to the digital portal Bolsamania.com. The contract with the US Air Force includes the design, engineering, commissioning and technical maintenance and possible future upgrades…
Bankinter | OPEC could accelerate production increase in June. According to press reports, several members are considering an increase in production. As a reference, OPEC will increase its production by 138,000bd in April and 411,000bd from May onwards. OPEC has the objective of bringing 2.2Mbd to market and, if this increase is maintained, it would achieve its objective in September this year, compared to July 2026, as predicted in April….
Link Securities | Speaking to reporters, US President Donald Trump said he never intended to fire Federal Reserve Chairman Jerome Powell, saying it was “media fabrications”. Trump repeated his criticism of Powell and said he would like Powell to be more active in lowering interest rates, but even if he did not, it would not have to mean his dismissal. Concerns about this possible dismissal were heightened by comments from…
Link Securities | Acciona (ANA) has reached an agreement with Darby International Capital for the acquisition of the Machupichu-Quencoro-Onocora-Tintaya transmission concession project and its associated substations, Bolsamanía reported on Monday. The project, which involves an investment of €250 million, comprises the design, financing, construction, operation and maintenance for 30 years from commercial operation of 330 kilometres of 220kV line, as well as the construction of two new substations (Quencoro Nueva…
Link Securities | As reported by various agencies (Bloomberg, Reuters), the US president’s economic adviser, Kevin Hassett, indicated last Friday that the Trump administration was still considering whether to fire US Federal Reserve Chairman Jerome Powell. Hassett accused Powell of playing politics from his post, while US President Donald Trump, for his part, indicated that Powell did not know what he was doing, and again advocated interest rate cuts over…
Bankinter: The Leading Indicator declines more than expected in March: down 0.7% month-on-month in March against the drop of 0.5% estimated and 0.2% previous (revised from 0.3%). The main detractors are Consumer Expectations, Stock Prices and Manufacturing Orders (ISM). By contrast, Average Hours Worked, Building Permits and Unemployment Claims contributed positively. Of the 10 components that make up the indicator, half contribute negatively. Bankinter analysis team’s view: Negative data for…
Bankinter | OPEC cut its estimate for global oil demand. It justified its decision on the impact on the economy of tariffs and the information received in Q1. They estimate that demand will increase by 1.3 mbd in 2025 and 1.28 mbd in 2026, in both cases a reduction of 0.150 mbd compared to the previous estimate. This increase represents about 1.2% of global supply each year. In parallel, it…