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Iberdrola guapa

World economy 14th February 2024

Abu Dhabi renewables group Masdar reportedly considering acquiring stake in Iberdrola’s renewables assets

Link Securities | Masdar, the Abu Dhabi Emirate’s renewables group, is considering acquiring a stake in Iberdrola’s (IBE) renewable assets in the United States, according to Expansión. It would be a first move following the deal sealed last December, when the two groups agreed on an alliance to analyse investment opportunities valued at €15 billion. The initial agreement contemplated investments in offshore wind and hydrogen projects in several countries, including…

Irak petroleo

In the World 13th February 2024

Iraq, OPEC’s second-largest producer, says it is meeting its 4m bpd production quota to support market

Intermoney| On the oil front, news from Iraq. According to the country’s oil minister, Iraq, OPEC’s second largest producer, is meeting its production quota under the OPEC+ agreement that limits production to prop up the market. Iraq has capped production at 4 million bpd while exports are around 3.4 million bpd. Iraq is OPEC+’s second largest producer, but has a history of irregularity in meeting its quota with the cartel,…

eeuu supermercado consumo

In the World 12th February 2024

December US CPI revised down to monthly increase of 0.2%

Link Securities| According to data from the Department of Labor, the US consumer price index (CPI) for December was revised down to a monthly increase of 0.2%, from a preliminary increase of 0.3%. In addition, November’s figure was revised upwards to an increase of 0.2%, from the initial figure of a 0.1% increase, and October’s figure was also revised upwards by one-tenth, from an initial flat reading to an uptick…

ArcelorMittal

World economy 10th February 2024

ArcelorMittal starts to see signs of recovery

Banco Sabadell: 4Q’23 results slightly better than expected 4Q’23 EBITDA slightly better than expected ($1,266m versus $1,233m BS(e) and $1,200m consensus), although contracting versus 3Q’23 due to a lower average price, something we see in all its geographies. Deliveries fell at the aggregate level compared to Q3’23, although in North America (34% EBITDA) they rebounded slightly (+2.4%), which anticipates some improvement. The lower part of the income statement is impacted…

banco espana guapito

In Spain, In the World 10th February 2024

Spanish banks expand +9 b.p. in credit due to New York Community Bancorp’s collapse against +27 b.p. for German banks

Santander Research : After last week’s stock market collapse of regional bank New York Community Bancorp, in Europe, the alarm bell was sounded by Deutsche Pfandbriefbank. By country, the biggest stock market falls are in French (BNP -14%, SocGen -9%) and German banks; while, in credit, the biggest increases are in German banks (+27bp), followed by Spanish (+9bp), French (+8bp) and Italian (+6bp) banks. The upgrade by S&P of Banco…

indra edificio

World economy 7th February 2024

Indra wins Lockheed Martin contract to equip four Saudi ships with state-of-the-art electronic defence systems

Link Securities | According to media reports, US company Lockheed Martin has awarded Indra a contract to equip four Saudi ships with state-of-the-art electronic defence systems. The 118-metre-long vessels, with a range of 5,000 miles, are prepared to operate in both coastal and ocean areas. They will be delivered with this Spanish technology to the Royal Saudi Arabian Navy. The companies have declined to disclose the amount of the contract….

ACS novisimo

World economy 5th February 2024

ACS wins new contracts for €400 million in several ports in the USA and the UK

Intermoney: The daily newspaper Expansión reports today that ACS (Buy, PO 43) has been awarded several construction contracts in the US and UK for a total of approximately construction contracts in the US and the UK for a total of approximately €400 M€. Thus, the Group has been the preferred bidder for a contract worth some £100 million ( €117 million) at the port of Immingham, the UK’s main port…

fed powell nov 2023

In the World 31st January 2024

Powell looking for time

BancaMarch: Powell’s first press conference of the year. At this meeting, the top US monetary authority will try to buy time in the face of the markets, reaffirming the message of caution in the face of inflation far from the 2% target and a resilient economy. We do not expect any changes in interest rate policy and it does not seem to be the time to announce anything regarding the…

An exterior view of China Evergrande Centre in Hong Kong

World economy 31st January 2024

Evergrande’s liquidation order affects foreign investors’ sentiment more than the economy

Alicia García Herrero (Natixis) | As the landmark case of China’s property turmoil, Evergrande’s liquidation order marks a new beginning of the industry’s downsizing, or in polished terminology, rightsizing. We argue that the direct macroeconomic impact is limited, but it may come with a snowball effect on the already worsened sentiment on foreign investors, if not properly handled. While Evergrande’s liquidation order may look astonishing, it is more a symptom…

bayer1

In the World 30th January 2024

New setback for Bayer: ordered to pay $2.25 billion in damages to glyphosate sufferer

Bankinter: There has been a new legal setback for the use of glyphosate: a US court sentences Bayer to pay $2.25 billion in compensation to a person affected by the use of glyphosate. Assessment: Negative news, this is the highest compensation that Bayer has been ordered to pay. It is expected that the company will manage to reduce this amount on appeal, as it exceeds the Supreme Court’s guidelines. In…