Today’s market chatter in Spain

LINK. Germany’s Zew Economic Sentiment Index dropped in April to 43.2 points from 46.6 in the previous month. It adds four straight declining months. Besides, the figure was under analysts consensus (46.6). The most likely reason is Ukraine issue harming German investors confidence. / Chinese 1Q14 grew by 7.4%, below 4Q13 (7.7%) and official target of 7.5% for 2014. This term left the smaller growth in 18 months. However, it surpassed The Wall Street analysts  consensus (7.3%). This slowdown lies in external demand weakness affecetd by harsh winter in the US, and China’s struggling housing market for structural changes in the economic model.

ACF. NH Hotels acquired Intesa’s 44.5% of NH Italia for €197.4M. This way the Spanish company gets the total control of its Italian unit. Intesa will underwrite an increase in NH capital for 42M new shares and will become its third biggest stockholder (16%) after HNA (21.2%) and Hesperia (17.7%).

BANKIA. Qatar’s sovereign wealth fund strengthens its bid for Spanish building sector and increases its participation in Colonial.

BANKINTER. Today markets will be marked by Ukraine’s conflict, which may be a bit relieved with a diplomatic agreement (Europe, US, Ukraine and Russia), China’s economic slowdown and deflation risk for euro strength. Bonds may consolidate yesterday rally rises.

AFI. International investors’ exposure to Eurozone boosts. Quantitative easing prospect could explain this capital flux.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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