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MELIA CHINA lujo

Ibex, Markets, Spanish economy, Uncategorised 1st October 2020

Meliá Takes The Advantage Of The Chinese Tourism Recovery Opening Its Fifth Hotel In The Country

According to the China Tourism Academy, more than 90% of hotels and tourist attractions in the country have reopened along with around 60% of travel agencies after containing the pandemic. Against this backdrop, Meliá Hotels has resumed work on an expansion plan which aims to double its presence in China within two years, from 5 to 10 hotels in operation. The reactivation of the domestic market have encouraged the company to open an ultra-luxury urban resort in Chengdu this week.

Ibex35 screen

Uncategorised 21st July 2020

Listed Spanish Companies Will No Longer Need To Present Quarterly Results, But Just Half-Yearly

Bankinter | Spain has approved the transposition of the 2017 European directive to promote the long-term involvement of shareholders in listed companies. This will be implemented through a bill that will amend the Law on Corporations (if approved by Congress). On of the main amendments is that the obligation to present financial information in Q1 and Q3 is eliminated. Therefore, listed companies will only be required to present half-yearly results, not quarterly ones.

The effects of the crisis on Spanin's businesses' productivity and competitiveness remain

Uncategorised 20th July 2020

Default Rates May Triple To 12% This Year, says IMF

The International Monetary Fund warns that the number of SMEs companies facing bankruptcy could triple if there is not enough aid from governments to support the economic recovery after Covid 19. Italy would be at the forefront of the defaults. The organisation’s director, Kristalina Georgieva, thinks eliminating prematurely the aid granted by the States could mean a greater cost in the long-term than the one countries are currently facing with the programmes for reactivating the economies.

green digital

Uncategorised 27th June 2020

Cyclicals 2.0: Green And Digital

Geraldine Sundstrom (PIMCO) | Things are looking up, sort of. Economies are slowly reopening, and economic data show encouraging signs of life. While the uncertainty about secular trends and the more imminent post-pandemic recovery remains high, we see greater certainty that the recovery will be environmentally cleaner and digitally driven. Cyclical 2.0 is upon us.

Frankfurt

Uncategorised 26th June 2020

A Message To The German Constitutional Court: There Is A Debate On Asset Purchases At The ECB

Intermoney | Within the ECB, they are not forgetting the clash it has had with the German Constitutional Court, after the latter ruled the bank’s bond purchase programme is “partially unconstitutional.” In fact, it is one of the problems they have to solve before the institutional break in August. Meanwhile, the central bank’s internal forum is still debating the question of whether the buying programme had an impact on economic and financial policy. The members of the Governing Council have been discussing the pros and cons of its monetary policy. 

IAG

Uncategorised 22nd June 2020

IAG, One Of The Big Winners Of The Crisis Thanks To Its Financial Strength And Management

Renta 4 | This year we will see a deterioration in the airline business never before seen in the sector. We expect IAG to cut air traffic capacity by 48% compared to 2019, and by quarters (-10.5% annually already confirmed in Q1/-90% estimated in Q2/ and between -55%/-30% estimated in Q3). Nevertheless IAG is one of the companies with the highest liquidity (€10 Bn), the best operating margins and the lowest debt. The acquisition of Air Europa, with a possible improvement of the conditions, is an additional advantage.

US labour

Uncategorised 9th June 2020

Stunned By The US Jobs Report

Michelle Meyer & Alexander Lin (BofA Global Research) | The May jobs report was nothing short of stunning. The labor market recovery started earlier than expected as job growth rebounded by 2.5mn in May. In total, 22mn jobs were lost with a peak U-rate of 14.7%. The quick bounce in job growth reflects the “easy” rehiring. The path becomes more challenging thereaſter, with a long road to full employment.

 

Astrazeneca

Uncategorised 8th June 2020

Astrazeneca, Gilead Could Be In Merger Talks Amid Race to Find Covid19 Vaccine

A hypothetical merger would result in the world’s largest Health-Care group. In dollar terms, AstraZeneca’s capitalisation is 141 bn$, with the stock price appreciating 41% in the last twelve months. Meanwhile, Gilead’s capitalisation stands at 96 bn$ and its share price has gained 19% in the same period. Everything points to Gilead preferring to develop very promising drugs on its own, in fields such as HIV or COVID-19.

Oil 1024x575 1

Uncategorised 8th June 2020

OPEC+ To Extend The 9.7 M bpd Cut By One Month; It Means 100,000 Barrels Less Than In June, And Almost 10% Of The Global Supply

OPEC+ agreed over the weekend to extend the cut in oil production until July 31. Mexico has not signed up to the new agreement. The return of 2 million barrels of crude oil to the daily supply will be postponed until that date. In addition, it was determined that Iraq and Nigeria, which have so far failed to comply with the agreed production cuts, will carry out an additional reduction in July.