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Spanish economy

talgo tren

Spanish economy 30th May 2025

SEPI could grant Talgo €120m convertible loan to unblock Basque consortium’s entry in capital

Renta 4: According to press reports, SEPI (the State-owned industrial holding company) could grant a convertible loan to Talgo to unblock the entry of the Basque consortium in the capital of the rolling stock manufacturer. The operation would consist of a convertible loan amounting to €120 million to cover the fine of €116 million imposed by Renfe on Talgo for the delay in the supply of the 30 AVRIL trains….

Talgo

Spanish economy 30th May 2025

Talgo calls EGM to reshuffle board after being left inquorate

Alphavalue/DIVACONS | The train manufacturer has called an Extraordinary General Shareholders’ Meeting for 27 June in order to restructure its board of directors, after it was left with an insufficient number of members to reach the quorum necessary for its valid constitution and operation. This situation follows the death of its independent director Emilio Novela Bartín on 16 May in Madrid, the company informed the National Securities and Exchange Commission…

Spanish mortgages market

Spanish economy 29th May 2025

Number of mortgages in March in Spain reaches 42,831, 44.5% increase in annual rate

Link Securities | According to data released yesterday by the National Statistics Institute (INE), the number of mortgages taken out on homes in March rose to 42,831, representing an increase of 44.5% year-on-year. The average amount of these operations was 156,698 euros, an increase of 14.3% in the interannual rate. In addition, the average amount of mortgages on the total number of properties registered in the land registries (from previously…

Fluidra piscina

Spanish economy 29th May 2025

Fluidra president concerned about US tariffs; company raises prices in North America by 3.5%

Link Securities | Fluidra (FDR) is concerned about the US tariffs due to the uncertainty they cause, although it recognises that, for the moment, they have had no impact on its accounts, according to the president, Eloi Planes, who told Expansión on Tuesday. The executive described the tariffs as a negative roller coaster for the economy and recalled that FDR has studied with its suppliers a realignment of the supply…

credit cards

Spanish economy 28th May 2025

Collapse of credit foreshadows more banking restructuring

Aurelio Medel (5 Días) | The fall in indebtedness of companies and families can be interpreted as proof of the improvement of their financial health, also as further evidence of the low investment made in Spain, or as a warning that the restructuring of the financial sector will continue. The decline in credit activity adds to a context of a permanent increase in capital requirements, which have placed the sector…

utilities electricas

Spanish economy 27th May 2025

Competition authority plans to charge electricity companies 6.5% for networks and 6.4% for gas for next six years

Banco Sabadell : According to press reports, and confirming rumours that have been appearing in the press over the last month, the National Markets and Competition Commission (CNMC) is moving forward with its decision to approve a 6.5% remuneration for electricity distribution networks and 6.4% for gas for the next six years. Assessment: As for electricity, although the news is negative, it was already known that the proposal being considered…

Caixabank, Telefónica, El Corte Inglés or Iberdrola, the Spanish firms best prepared to confront 2019

Spanish economy 27th May 2025

Spanish companies lose competitiveness due to labour and tax regulations, according to World Bank

Labour regulation, the high tax burden, and the scarcity of qualified workers are the main obstacles to the growth of Spanish companies compared to others in the major global economies. This is reflected in the report “The Business Environment and the Private Sector in Spain” presented yesterday by the World Bank, after conducting a series of surveys in recent months among Spanish companies of all sizes and sectors. Especially those…

banco sabadell palmeras

Spanish economy 26th May 2025

Blackrock raises stake in Banco Sabadell to over 6.70%

Link Securities | National Securities Market Commission (CNMV) filings unveiled a new increase in US fund manager BlackRock’s stake in Banco Sabadell, Expansión newspaper reported. The latest purchases uncovered by the regulator have raised its weight in the bank’s capital to over 6.70%. In its previous notification, issued yesterday, the world’s largest asset manager had reported a 6.688% stake. According to CNMV records, the current 6.701% represents its highest stake…

Spanish banks

Spanish economy 23rd May 2025

Bank of Spain Director of Economics resigns after presenting annual report

Ángel Gavilán, the Director of the Economics and Research Department at the Bank of Spain, has resigned after presenting – out of loyalty – the first Bank of Spain report with former minister José Luis Escrivá as the new governor. It was known that the presented report had omitted the widely shared concern about the Spanish pension system, which, after the reform launched by Escrivá himself, faces increasing expenses and…

telefonica edificio

Spanish economy 22nd May 2025

Telefónica sells all shares in Telefónica Móviles del Uruguay to Millicom for €389 million

Link Securities | On Wednesday Telefónica Hispanoamérica, S.A., a wholly owned subsidiary of Telefónica (TEF), reached an agreement for the sale to Millicom Spain, S.L. of all the shares it holds in Telefónica Móviles del Uruguay S.A., representing 100% of its share capital. The transaction amount (firm value) for this company is $440 million (around €389 million at the current exchange rate), and the corresponding price is subject to the…