Intermoney | ACS (Buy, PO 46), through its subsidiary Thiess, itself part of Cimic, has won a mining services contract for an open pit project in Ontario (Canada) for a period of three years worth €137.5 million. The contract is with Vale, one of the world’s largest integrated mining companies, specialising in iron and nickel, headquartered in Rio de Janeiro, Brazil and employing around 125,000 people in more than 30…
BancaMarch: The IMF warns of the possible persistence of inflation, in the face of potential trade and geopolitical risks and service prices that remain high due to wage growth. The IMF’s report forecasts high interest rates for longer. Moreover, chief economist Gourinchas said that the Fed can afford to wait to cut rates to avoid inflationary surprises. Regarding their GDP growth projections, they have kept the previous April estimate for…
Link Securities | According to data from the General Bureau of Customs, China’s trade surplus increased in June to $99.05 billion, up from $69.8 billion in the same month a year ago, and exceeding market forecasts for a surplus of $85 billion. It thus becomes the largest amount of trade surplus in a month since July 2022, as exports increased, while imports decreased. Specifically, exports grew by 8.6% year-on-year, their…
Morgan Stanley: According to Reuters, employees have rejected the agreement to end the strike at the Lázaro Cardenas plant, which has been in place since 24 May. Alain Gabriel (analyst) points out that the blockade is likely to have a significant impact on the North American division (the plant represents almost half of the division’s capacity). In this sense, an 80% utilisation would imply an annual production of up to…
BancaMarch: The United States is trying to act on Chinese steel and aluminium entering through the Mexican border. The Biden administration has included tariffs of 25% on steel and 10% on aluminium not smelted in Mexico, the United States or Canada. In this way, it aims to prevent the entry of Chinese metal circulating through Mexico in order to avoid the tariffs already imposed in May on various products of…
BancaMarch: In the US, Monday’s highlights were consumer credit data which improved in May to $11.354 billion, a figure that points to a revival in consumer credit as this figure is well above the previous month’s $6.485 billion. On the other hand, the New York Fed’s inflation expectations survey also showed a slowdown in inflationary pressures with consumer inflation expectations for the next 12 months at +3.02% versus +3.17% previously….
Renta 4 | Repsol (REP), in alliance with Eni as operator with a 50% stake, has made an important oil discovery in Mexico. According to information published by the Italian company, the field is located some 63 km off the coast of Mexico, in the medium-deep waters of the Salina Basin in the Southeast Basin. The well has been drilled to a depth of 525 metres and has reached a…
Alphavalue/DIVACONS | The Spanish IT services and consulting company will supply Surface Awareness Iniative (SAI) systems for the Federal Aviation Administration (FAA) of the United States, the civil aviation authority that manages the country’s air traffic. The FAA approved Indra’s SAI solution, called AeroBOSS, which allows the company to provide its technology for surveillance and monitoring of aircraft on the surface, as well as to reduce the risk of runway…
Alicia García Herrero (Natixis) | The market is closely watching the long-awaited Third Plenum in China, which will be hosted from July 15 to July 18 in 2024. Historically, this event has been pivotal in signaling key policy shifts and economic reforms in China. This time around, market participants and China watchers have a very specific question: will measures be announced for the Chinese economy to revive after years of…
Norbolsa | Banco Santander (SAN) has launched a plan to grow in investment banking in the United States, according to Expansión newspaper. The more than one hundred signings that Santander has made at Credit Suisse and other large investment banks will allow Santander to enter new areas of mergers and acquisitions (M&A), financing, stock market and debt. The daily also notes that the bank has special expectations for the leveraged…