The construction materials’ sector is one of the few where EPS growth is accelerating between 2017 and 2018. But to be fair, there has not been much positive news for the construction materials/cement sector this year. Valuations don’t scream out “an attractive buy” in the short-term.
Red Eléctrica de España (REE) plans to put into service in 2025 the underwater electricity link with France. This new electricity interconnection will allow the exchange capacity between Spain and France to increase to 5.000 MW compared with the current 2.800 MW.
In a surprisingly statesman-like manner, Carles Puigdemont performed a balancing act in respecting the referendum result, safeguarding his support from the independence movement, and avoiding total escalation with Spain.
A three-party “Jamaica” coalition in Germany may not be so bad for Europe as observers fear. The real benefit for Europe would be German domestic policy. After four years of stasis under the grand coalition, the “Jamaica” parties could transform the German economy
Utilities in Europe have made a sudden stock market comeback since late July, after performing well in May, underpinned by strong Q1 earnings and some speculation about possible further consolidation in the industry. Q2 results have also been solid and fuelled earnings upgrades.
Making judgements on “whether a market is expensive or cheap,” using aggregates of prices and earnings, is a very risky simplification. To begin with, there are companies which don’t make money or even lose it, and quite a lot of it. Responsible, professional investors don’t buy stock markets indices, they buy shares. They don’t invest “top-down” but rather “bottom-up”.
Investors realise that the political risk in France has decreased substantially and are less concerned about what might happen on the political front in Italy and Germany. Now it’s time to look at companies’ fundamentals once again and continue to focus on the ECB’s decisions over the coming months.
By Alexander Coward|While it was a tragic day for those whimsical souls who see the lie in the notion of Britain being a modern great power, recognizing its status as a medium-sized country that used to have an empire, when Article 50 was triggered on March 29 it was not a sad day for Europe.
Nick Ottens via The Atlantic Sentinel | Brexit fundamentalists scored another victory on Wednesday, when the United Kingdom began the process of withdrawing from the European Union without a plan for what comes next.
There is a sudden push to cut taxes in the US and Europe, although the Spanish government is preparing to increase taxes here, particularly for companies.