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caf autobuselectrico

World economy 4th July 2024

CAF wins €50-million contract to supply trams to Omaha Streetcar Authority

Link Securities | Omaha Streetcar Authority, the inter-local agency created between the city of Omaha (Nebraska, United States) and Omaha Metro for the development of the city’s new tramway network project, has chosen Construcción y Auxiliar de Ferrocarriles (CAF) as the company to supply the units that will serve the aforementioned line, according to the digital portal Bolsamania.com. CAF will initially supply six trams with their corresponding parts and special…

Galp

World economy 3rd July 2024

Exxon, Chevron, Shell and TotalEnergies interested in buying 40% of Galp’s offshore field in Namibia

Norbolsa | Many majors are interested in taking a 40% stake in Galp’s major offshore field in Namibia. Among the candidates are Exxon, Chevron, Shell, TotalEnergies, Petrobras, Woodside Energy and Apache Energy. This field, Mopane, has estimated reserves of 10 billion barrels and could be worth around $10 billion. Namibia, which lacks oil and gas production, has attracted huge interest from international energy companies in recent years following a series…

eeuu inflacion precios

World economy 27th June 2024

Consumer confidence slows down in US

The Conference Board’s consumer confidence index declined in June, although somewhat less than expected: specifically, this indicator stood at 100.4 from 101.3 previously and slightly above the 100 expected. This lower confidence was mainly explained by the decline in the expectations component (73 versus 74.9 previously), as the reading of the current situation improved (141.5 versus 140.8 previously). Still in the US, the S&P Case-Shiller index of house prices in…

China

World economy 25th June 2024

China’s fiscal revenues fall 2.8% in first five months of 2024

Alphavalue / Divacons | China’s fiscal revenue fell 2.8% in the first five months of 2024 from a year earlier, accelerating from a 2.7% decline in the January-April period, official data showed yesterday, as weak demand weighs on the economic recovery. Fiscal spending rose 3.4% in the first five months, compared with a 3.5% increase in the first four months, according to Finance Ministry data.

US China trade tensions

World economy 24th June 2024

China catches up with EU’s exports to Africa, but imports far less

Alicia García Herrero (Natixis) | The European Union has a historically strong economic relationship with Africa, but its dominant position has gradually been challenged by the rise of China, especially as a key exporter to Africa. In 1995, China’s exports to Africa were only $1.8 billion, significantly lower than the EU’s exports of $45 billion. However, after nearly thirty years’ of increasing its manufacturing capacity, China’s exports to Africa reached…

oil

World economy 21st June 2024

Falling oil prices appear to be a supportive factor for the market in the short term

François Rimeu (La Française AM) | The OPEC meeting resulted in maintaining the oil production cuts, as expected by the markets. Beyond this decision, investors were reassured by the possibility of these production cuts decreasing in the fall. Coupled with disappointing U.S. growth figures, this meeting had a significant impact on crude oil, which has dropped by 8% since the end of April. Again, this decline seems to be more…

china yuanesCM

World economy 21st June 2024

Chinese interest rates remain unchanged in May as expected

Link Securities | The People’s Bank of China (PBoC) kept its benchmark interest rates unchanged in its June adjustment, in line with market expectations. Thus, its one-year lending rate (LPR), the benchmark for most business and household loans, remained at 3.45%. Meanwhile, the five-year rate, the benchmark for real estate mortgages, remained at 3.95%, following February’s 25 b.p. cut. Both interest rates are at historic lows, in an environment of…

eeuu madeinCM 1

World economy 20th June 2024

Manufacturing activity boosts US industrial production in May by 0.9% month-on-month

Intermoney | US May industrial production shows muscle as it grew by a strong +0.9%m. We were taken by surprise by the solid data considering that the ISM manufacturing survey for May pointed to only a slight rebound, although other indicators pointed to some recovery. Manufacturing activity, the most relevant item, largely explained the figure, as it also rose by 0.9%, led by consumer goods (1.3%) thanks to the expansion…

grifols investigacion

World economy 18th June 2024

FDA grants marketing authorisation for Grifols’ intravenous immunoglobulin therapy Yimmugo

Renta 4 | The FDA has approved the marketing of Yimmugo, an intravenous immunoglobulin (Ig) therapy developed by Biotest, a company controlled by Grifols, for the treatment of primary immunodeficiencies. The announcement marks the first approval of a product from Biotest’s portfolio by the US FDA and strengthens Grifols’ intravenous and subcutaneous immunoglobulin franchise in the world’s leading market. The product, which has already been marketed in the EU since…

Ucrania escalada conflictos

In the World 17th June 2024

G7 to allow use of proceeds from immobilised Russian assets to provide loan to Ukraine

BancaMarch : G7 members have reached a (tentative) agreement that would allow the use of proceeds from frozen Russian assets to provide a $50 billion loan to Ukraine. Russia’s frozen assets worldwide amount to $300 billion, however, this amount cannot be used, but the interest – some $3 billion – generated annually can be used. Thus, future profits are established as collateral for the $50 billion loan. The deal would…