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Spanish economy 10th December 2020

Spain Charges Investors For Its 10-Year Bond For The First Time In History

Today Spain issued €1.403 M at a new auction of bonds and securities, within the average range predicted. And it did so selling the 10-year bond with a negative yield for the first time in history. In fact, in the secondary market, the Spanish bond has been marking historical minimums for weeks. Until now, this “anomaly” was something typical of countries like Germany, with well balanced public accounts. Spain and Portugal have already joined this club. The Portuguese bond yield fell to -0.013% on Tuesday.

Spanish economy 10th December 2020

The Amount Of Renewables With Access Permission To REE Shows Spanish Network Is Starting To Be Saturated

Renta 4 | Withdrawals from network access points are continuing. To the over 20 GW of renewable projects abandoned in September, we must now add another almost 5 GW during the month of October. As of October 31st 2020, the number of renewables’ plans with access permits has risen to 121.7 GW. This means only a further 0.5 GW have obtained the access point, a clear sign the transport network is fairly saturated.

Ibex, Markets, Spanish economy 10th December 2020

Around One Third Of Spaniards Resorted To Their Savings During The Pandemic

Thirty one per cent of Spanish citizens have had to use their savings during the pandemic. This is at least double that of France (15%), Germany (14%) and the Netherlands (12%). In addition, 19% of Spaniards have had difficulty in meeting their housing costs. In these three above-mentioned countries, the percentage of those who acknowledge this problem is around 10%. This is data from the latest Focus on Spanish Society, a publication edited by Funcas.

Spanish economy 9th December 2020

Spain’s 10-Year IRR In A Zone Of Historic Lows

The yield on the ten-year Spanish sovereign bond in the secondary market hit a new historic low of 0.024% on Tuesday, below the August 2019 low of 0.035%. While the interest on the equivalent German bond was -0.611%, the risk premium offered to investors by Spanish bonds with respect to the ‘bund’ reference was around 63.77 basis points. The Portuguese bond yield fell into negative territory for the first time, standing at -0.013%.

Markets, Spanish economy, Spanish Small & Mid Caps 9th December 2020

Logista, Recognized As A World Leader In Sustainability In The CDP “A List” For The 5th Year In A Row

Logista, a leading distribution company in southern Europe, was recognized as a world leader in sustainability by CDP, an international non-profit organization, by entering its prestigious A List for its fight against climate change. This is the fifth year in a row that Logista achieves this recognition, being the first European distributor to achieve it over such a long period of time.

Ibex, Markets, Spanish economy 9th December 2020

Repsol Is Expected To Float Its Renewables Subsidiary In Less Than Two Years

Repsol announced the IPO of its renewables area or an alliance with a third party in its Strategic Plan 2021/2025 presented on November 26th. The operation could be carried out in less than two years and it will always maintain control of the shareholders. The company expects to raise at least 1.4 billion euros with the floating, which would mean valuing the division at around 3 billion euros. It would be one of the largest operations of the last decade.

Spanish economy 7th December 2020

There Was A 12.5% Growth In FDI Received In Spain In The Second Quarter

Invest in Spain | According to the Foreign Investments Registry at the Ministry of Industry, Commerce and Tourism, gross FDI (holding companies and non-holding companies) received in Spain in the second quarter of 2020 amounted to 5,009 million euros, an increase of 83% over the figure for the previous quarter. Furthermore, foreign investment increased in all modalities.

Spanish economy 4th December 2020

Spain Already Has A Budget For 2021, At Last

On Thursday, Parliament approved the 2021 Budget with the support of 11 parties and 188 votes, including Catalan and Basque separatists. Thus, the future of the new accounts, the first of the minority, left-leaning coalition government, is finally clear. They would come into effect on January 1, leaving behind those of 2018, drawn up by the previous PP government and still in force. The budgetary plan includes broad tax increases and the birth of the Tobin and Google taxes.

Spanish economy 4th December 2020

Plan For A Pandemic Christmas In Spain: Communities Closed Except For Visiting Families

It is now official. Spain has a common plan for 2020 Christmas in order to avoid a third wave of coronavirus infections. Among the measures approved are delaying the limit on mobility on Christmas Eve and New Year’s Eve until 1:30 a.m., perimetral confinements of regions throughout the Christmas period, except for travel of family and friends. In addition, dinners and lunches will be hold for no more than 10 people, without specifying whether children or adults, on December 24, 25 and 31 and January 1.

Spanish economy 3rd December 2020

BBVA And Banco Sabadell: Their Alternatives After Their Non-Merger

After ruling out its integration with Banco Sabadell and with improved macro perspectives in Turkey, where it owns over 49.85% of Garanti bank, BBVA can potentially devote a higher amount to increasing shareholder remuneration. This could be through share repurchases as it does not need to strengthen provisions and has excess capital. For its part, Banco Sabadell has announced it will develop a new business plan that will prioritise the domestic market as a formula to increase the creation of value.