The direct impact of the global slowdown in Spain is being offset by the positive indirect effects on private consumption. High GDP growth rates will be maintained in 2015 and 2016, but these will moderate progressively, with economic growth seen falling to 2.8% from 3.1% in 2015 as reported by Bank of Spain last week.
Electricity consumption by large and medium-sized companies grew by 2.5% in August from a year earlier.
MADRID | July 15, 2015 | By Fernando G. Urbaneja | El Corte Inglés, which just sold a 10 percent stake for 1 billion euros ($1.1 billion) to a Qatari investor, is a rara avis both in Spain and overseas.
April 27, 2015 | UBS | After a period of significant negative earnings growth Italy and Spain earnings show a strong rebound in 2015E. Italy is expected to grow at c. 18% and Spain is expected to yield c. 13% earnings growth.
MADRID | April 27, 2015 | By Fernando G. Urbaneja | At his own pace, without giving up to noisy external pressures, Repsol Chairman Antonio Brufau established an executive management model with a clear separation between the chairman of the Board and the executive team –entrusted to a CEO with full authority. That had been a claim of significant shareholders of the Spanish oil firm and some investment funds, although for different reasons.
The Corner | April 14, 2015 | At first sight the Spanish Ibex multiple does not seem particularly stressed (16.2 x PE 12 months forward with a premium of 15% against historical series). But analysts believe that it is actually being affected by optimistic earnings estimates, especially in the banking sector.
The Corner | March 30, 2015 | While much of the attention is focused on bonds, it should also be noted that stocks and real estate market are also worth more. How much? Bankinter analysts forecast that Spain’s Ibex will reach 12,878 points (potential + 12%) in 2015; EuroStoxx50, 4,338 (+ 18%); S&P 500, 2,333 (+ 10%). The Japanese Nikkei remains the least attractive option at 20.305 (+ 4%).
MADRID, February 20, 2015 | By Fernando G Urbaneja | The Government and Spanish companies are taking advantage of low interest rates as a means of reducing overall indebtedness.
MADRID | Sean Duffy | Third time may be a charm for Spanish group as IPO belatedly goes ahead on Wednesday.
MADRID | The Corner | The onset of QE by the ECB will have several consequences but one of the most important is the continued depreciation of the euro against other currencies. The significant appreciation of the dollar, the pound and the Brazilian real in recent months could be very positive for Spanish companies,” but it depends on how they are funded in these countries and whether the currency risk is covered,” said experts BekaFinance.