Top Stories

Spanish economy

Pedro mascarilla españita

Spanish economy 26th April 2021

Spain’s Public Administrations Owe Their Suppliers 83.35 Billion Euros; And Do Not Comply With The Late Payment Law

T.C. | More than half of the debt, 43.5 billion, corresponds to the central administration, the government, while local councils owe almost 20 billion, the Autonomous Communities 10 billion and the Social Security another 10 billion. And nothing seems to indicate that these figures will improve in 2021. In breach of the law on late payment – which requires payment within 30 days – the central government was paying in January 2021 in almost 40 days. 

green spain

Spanish economy 26th April 2021

The Spanish Treasury Will Have A National Sustainable Finance Plan And A Sovereign Green Bond Scheme In H2’2021

Fernando Rodríguez | The Treasury will issue its first sovereign green bond “in the second half of this year,” as announced by Pablo de Ramón-Laca, Director General of the Treasury and Financial Policy. He explained that this first bond will form part of the Treasury’s Green Bond Issuance Programme, which aims to be a “structural component of the Treasury’s financing policy.”

Allfunds

Spanish economy 24th April 2021

Allfunds, The Spanish Fund Platform, Makes Its Debut On The Amsterdam Stock Exchange With A 20% Rise

T.C | Allfunds, the made in spain fund distribution platform with assets under administration of more than 1.2 trillion euros, went public on Friday on the Amsterdam Stock Exchange, with an initial price of 11.5 euros per share, which meant a capitalisation of 7.25 billion, and closed the day at 13.85 euros, which implies valuing the company at more than 8.7 billion.

Cellnex

Spanish economy 23rd April 2021

Singapore’s Sovereign Wealth Fund Replaces The Benettons As Cellnex’s Largest Shareholder

T.C. | Cellnex (CLNX) has closed its €7 billion capital increase without difficulties. This is the company’s fourth capital increase in two years. Since February 2019. Cellnex has raised €14.7 billion in capital on the market and is, after the capital increase, the fourth largest company in the Spanish market. The Benettons did not take part in this new capital increase – which was made at a discount of 17% – and have sold their rights, reducing their stake from 13.5% to 8.5%. On the other hand, the sovereign wealth fund of Singapore, which bought 2.5% of the capital from the Benettons, became the largest shareholder with 9.23%.

electricity1

Spanish economy 22nd April 2021

The Rise In Gas (+200%) And CO2 (To 45 Euros Per Tonne) Is Pushing Up The Price Of Electricity In Europe

ASE Group | The rise in the price of CO2 emissions, up 36% so far this year to 45 euros per tonne (when a year ago it was around 15 euros per tonne) and in the price of gas, up 200%, is pushing up electricity prices across the continent, both current prices and those on the futures markets. Thus, for example, in Spain, the daily price of electricity on the wholesale market for the first 15 days of April stood at 58.13 €/MWh. This is 60% higher than at the end of March and also 60% above the average for the month of April in the last 5 years. If we compare it with April of last year, in the middle of the sanitary confinement, the price rises by 229%.

utilities brand value

Spanish economy 21st April 2021

Iberdrola, Naturgy And Endesa Among The 20 Utilities With The Highest Brand Value In The World

Iberdrola is the Spanish energy brand with the highest growth in brand value, with a 1.4% increase in brand value and remains the most valuable Spanish energy company in the world according to Brand Finance, the intangible valuation consultancy. Furthermore, Iberdrola is the only Spanish company in the sector’s top 10. It ranks 6th in the table and has a value of €4.38 Bn. The ranking is headed by China’s State Grid with €46.9 Bn.

RealMadridBarcelonaok

Spanish economy 20th April 2021

European Super League Football, Backed By JP Morgan, Against All The Rest

T.C. | Real Madrid, Barcelona, Atlético de Madrid, AC Milan, Arsenal, Chelsea, Inter Milan, Juventus, Liverpool, Manchester City, Manchester United and Tottenham Hotspur are 12 of the 15 teams that have decided to set up a European Super League, backed by JP Morgan, which is putting 3.25 billion on the table to move forward with a project that is clearly and openly opposed by FIFA and UEFA, which speaks of a “shameful and selfish project, driven solely by greed”, and which has threatened those who play in the Super League with “excommunication” – with not being able to play in their respective national teams.

S81IsacPeral

Spanish economy 20th April 2021

We Are Not Sinking. And If We Do Sink… We Have Submarines

T.C. | Next Thursday, 22 April, in Cartagena (Murcia), King Felipe VI will preside over the launch of the S-81 Isaac Peral, the first submarine built by Spain alone (until now the development costs were shared with other countries, with France in the case of the latest submarines), which will be sponsored by his daughter Leonor, Princess of Asturias and heir to the throne.

Acciona

Spanish economy 19th April 2021

How To Trade At A P/E Of 20 When Working Capital Is Negative

CdM | It is well known that in order to take a company public, it is advisable to hire a good press campaign, distribute some money among banks and underwriters, etc. But there are times when haste leads to a rush to force the machine and fall into ridicule. A Madrid business newspaper has published a report on the renewable energy companies expected to list on the Spanish stock exchange in the coming months, comparing the capital valuations of some with others that add capital and debt, which, to say the least, is misleading.