Reported by Bankinter Intesa Sanpaolo (ISP) is offering a share swap of 1.6 ISP shares for every MPS share with a cash payment of €1 per share, subject to the acquisition of 66.67% of the share capital of MPS. The offer values MPS at €10.09 per share, implying a premium of 12.5% over Friday’s closing price and 17.4% over the average share price over the last three months. This is…
The shifting global geopolitical and economic landscape, coupled with doubts about the sustainability of public finances, is making real assets—which governments cannot simply print—increasingly attractive. By Géraldine Sundstrom Investors must be realistic. We live in a world marked by uncertainty, multipolar rivalries, geopolitical instability, and technological transformations and advances. Disruptions to supply chains are mounting, with trade frictions in an economy fragmenting into rival blocs. This is a global transformation…
Report by Renta 4 European markets opened flat, but US futures were down (S&P 0.5%, Nasdaq 1%) and declines in Asia, with Japan’s Nikkei down 1% and South Korea’s Kospi down 5% (although it had fallen as much as 7% during the session, weighed down by Samsung and SK Hynix, which account for 54% of the index) amid profit-taking in the AI ‘trade’. Added to this is the news that…
Beyond the focus on developments in the Middle East conflict, investors will be turning their attention this Thursday to the launch of SpaceX’s roadshow. Elon Musk’s company aims to raise around $75 billion in what will be the largest initial public offering in history. Report by Renta 4 European markets open lower (Eurostoxx futures down 0.4%, S&P futures down 0.4%, Nasdaq futures down 0.5%) after Wall Street yesterday broke its…
Reported by Consejeros Editorial Team The company has announced that it will raise $80 billion, which it will use to fund its ambitious spending plans in artificial intelligence, ranging from the development of advanced models to the construction of the necessary infrastructure. The $80 billion, representing 1.7% of the company’s total market capitalisation, will be broken down as follows: $15 billion in a share issue; $15 billion in a 3-year…
It is becoming increasingly clear that the approach to monetisation differs significantly between companies, depending on four key pillars: monetisation, control of the technology chain, visibility into demand, and quality of spending. By Raphael Thüin Although they are usually grouped under the same investment theme linked to artificial intelligence, the hyperscalers are developing very different business models. Beyond the aggregate CAPEX figures, companies such as Microsoft, Alphabet, Amazon and Meta…
Report by Renta 4 Flat opening on European markets (Eurostoxx futures down 0.2%, S&P futures up 0.3%, Nasdaq futures up 0.5%) and further gains in Asia (Japan’s Nikkei up 1%, South Korea’s Kospi up 4%) against the same backdrop of doubts over the Middle East deal and the AI boom. Brent is up 2% this morning at $93/bbl against the backdrop of a US-Iran deal still awaiting signature and several…
A new all-time high for Micron and a 10% rally in SK Hynix have expanded the select list of the ‘Trillion-Dollar Club’ to 15 companies, a third of which belong to the semiconductor sector. Report by Morgan Stanley Following the new all-time high reached on Tuesday by Micron, the company has joined for the first time the exclusive group of firms with a market capitalisation exceeding $1 trillion – a…
On the final day of the Medcap Forum 2026, several defence experts addressed the challenges facing the sector, agreeing that, despite this being a historic moment for defence spending, we are hampered by the fragmentation of European management. By Consejeros Editorial Team Is Europe ready to compete in defence? Yes, but not by much. That is the conclusion that can be drawn from the reflections of the specialists who opened…
The US, Canada, Japan, France, the UK, the Netherlands… and Spain. Activist funds have long been very active in Spain’s listed companies, where they hold positions worth almost $4 billion according to the latest report from Sodali, which cites the case of Third Point in Indra. However, it is in a company without a clear majority shareholder, Cellnex, where TCI, with a 9.3% stake, has managed to impose its rules….