Today’s Talk Of The Market In Spain

Here’s what Spanish market makers are talking about right now:

BANKIA: As expected, the ECB kept interest rates in the historic mininum of 0.25 %, cooling expectations. Thursday’s press conference showed an unusual optimism that justifies the lack of action. The likelihood of lower interest rates in the next months goes down.

AFI: Market begins to assimilate that the ECB is not taking any action unless inflation falls below 0.5% or recovery is threatened. In contrast, specific programs to reinforce liquidity or foster SMEs credit are expected.

CORTAL CONSORS: Employment figures in the US are positive as regards the widening of business margins. Today, non-agricultural jobs rate will be released: increase of 150,000 people expected.

SABADELL: Analysts favor the government’s new measure of overhauling loan refinancing rules for struggling companies, which will make it easier for companies to arrange debt-for-equity swaps with creditors. Also, Daimler sold 68.7 % more Mercedes in China in February. Compare it to Europe, where sales increased by just 3.8 %.

BANKINTER: bolsters its recomendation about Gamesa, from sell to neutral and believes that after sound reestructuring process, the company remains underestimated even under conservative estimates.

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.

Be the first to comment on "Today’s Talk Of The Market In Spain"

Leave a comment