Top Stories

Spanish economy

paro empleo

Spanish economy, Spanish Politics 15th February 2021

Employment In Spain Holds Up This time, But Duality In The Labour Market Continues To Wreak Havoc

Josep Mestres Domènech (CaixaBank Research)| In times of crisis, the reduction in employment traditionally occurred in Spain through a significant destruction of jobs, while in periods of expansion job creation was rapid. This has not been the case in this crisis. For the first time, the declines in GDP have been accompanied by a much smaller reduction in employment. This is not only due to the unique nature of this crisis, which originated in the health sphere, but also due to a very different response from economic policy.

spain in europe

Spanish economy 12th February 2021

Spain Is Expected To Grow Above The European Average in 2021, Says The EC

Brussels has raised the Spanish GDP growth forecast for this year to 5.6%, which is two tenths of a percentage point higher than the previous estimate. This would make the Spanish economy the fastest growing of the 27 EU countries, ahead of France (+5.5%). That said, the European Commission (EC) also increases the risk of business failures in the sectors most affected by the new restrictions, with the potential for increasing unemployment and cutting production capacity.

Tubacex's record orders

Spanish economy 12th February 2021

The “Reddit Effect” Replicated In The Spanish Stock Market

The social network Telegram has been crowded with groups to buy and sell shares in a coordinated way imitating the actions of US Reddit forum to boost the stock price of GameStop. The Tubacex case, a steel pipe manufacturing company, has been the first target of a group of imitators in Spain known in Telegram as “Spanish WS Bets.” After that move, the company soared 15% in the stock market an caught the attention of the National Securities Market Commission.

spain foreign students

Spanish economy 12th February 2021

International Students Generates €3.8 Bn For The Spanish Economy

Some 1,044,898 internationals enrolled at Spanish institutions in the 2018-2019 academic year. Their overall economic impact on the Spanish economy amounts to near €3.8 Bn and the multiplier effect for student spend is 2.27, which means that for each euro spent on their academic program, these international students spent an additional 1.27 euros on a broad range of sectors of the national economy, explains the study The Economic Impact of International Students in Spain, promoted by ICEX and Eduespaña.

UK renewables

Ibex, Markets, Spanish economy 11th February 2021

ACS Wins 480 MW Of Wind Power Licenses In The UK For €510 M

ACS, through its subsidiary Cobra, has been awarded 480 MW in the auction held to assign new licenses for offshore wind power facilities off the coast of the UK. The project will involve an investment of €510 M during the 10 years it will take to develop and build the plant before the wind turbines come into operation for an estimated period of 60 years. ACS has beaten other bids from large electricity companies such as Iberdrola in this auction, the first major British auction of wind farm licenses in more than a decade.

Forty years of democratic Spain: No resemblance to what it was

Spanish economy 10th February 2021

Spain Remains A Full Democracy, Despite Limitations On Civil Liberties Due To The Pandemic

Spain has fallen 17 tenths of a point and six places in The Economist’s democratic quality index, although it remains in the “full” democracy category. The country has never failed to be a “full” democracy since the index was created 15 years ago. It has a score of 8.12. Furthermore, “democracy received a big blow in 2020” at a global level, stated the study. Almost 70% of the countries examined have regressed in “democratic freedoms” due to the restrictions on civil liberties caused by the fight against the pandemic.

BME Spanishstock exchange

Spanish economy, Spanish Small & Mid Caps 10th February 2021

BME Bring 22 Spanish Small & Medium Cap Companies With Investors In Frankfurt

Fernando Rodriguez | BME bring 22 spanish small&medium cap companies with investors in the fourteenth edition of the Frankfurt European Midcap Event, that started yesterday. BME is a regular sponsor of this annual event, which aims to put medium and small capitalisation companies from different European countries in contact with more than 75 investors interested in this type of issuers. 

SAN BBVA

Spanish economy 9th February 2021

BBVA, Santander Aim To Return To Around 40% Payout By 2021

Morgan Stanley | Earnings momentum has increased and comments on dividends are encouraging. As for Spanish banks, BBVA announced a 10% buyback after completing the sale of its US subsidiary, with a payout of 35-40% by 2021. Santander has said it intends to return to 40-50% cash payouts when regulators allow. Caixabank will hold a dividend per share of €0.0268 subject to a 15% payout required by the ECB. Bankinter’s DPS will reach €0.10. Unicaja and Sabadell have not proposed dividends for 2020.

Madrid Stock Exchange revision

I.R. Spain, Spanish economy 8th February 2021

Foreign Institutional Investors Already Own Half Of The Capital Of Spanish Listed Companies

Fernando Rodriguez | Foreign institutional investors hold 50,2% of the total capital of listed companies on the Spanish Continuous Market, up 12 percentage points in the last 10 years according to the conclusion of the report: Preparing for the 2021 Shareholder Meeting Season, drawn by the law firm Cuatrecasas and the proxy solicitor Georgeson, an annual report now in its tenth year.

CAF Bombardier

Markets, Spanish economy, Spanish Small & Mid Caps 8th February 2021

Alstom Withdraws Bid For Mega-Contract Won By CAF-Bombardier Consortium

Renta 4 | Alstom has decided to cancel its bid for the contract for the supply of 146 trains worth 2.560 billion euros that the CAF-Bombardier consortium won three weeks ago, considering it to be unfeasible. From a financial point of view, this setback leaves in the air a contract worth, according to the latest information from the consortium, around €1 Bn. Moreover, from a strategic point of view, CAF could lose the opportunity to consolidate its position as the second largest operator in the French market.