Moody’s upgrades Spain’s outlook from positive to stable for more balanced growth model

Bankinter| Moody’s with Spain’s credit rating at Baa1 raised its outlook to positive from stable. S&P maintained its rating at A with a stable outlook. Moody’s outlook upgrade is based on a more balanced growth pattern, low private sector leverage, a robust banking sector, a stronger labour market and current account surpluses. S&P maintained its credit rating and stable outlook on the back of “resilient” economic growth, although it notes…

supermercado precios

Spain confirms final CPI for January

Bankinter : Final CPI January 2024 confirms +3.4% year-on-year (from +3.1% year-on-year previously). Underlying CPI also confirms +3.6% year-on-year (from 3.8% year-on-year previous). Month-on-month 0.1% month-on-month (from 0.0% month-on-month Dec-23) and in the Underlying -0.4% month-on-month (from +0.2% month-on-month Dec-23). Analysis: With no surprises, the final January data confirm the provisional figures. The difference between the General and Underlying Rate narrows to 0.2pp. The increase in the headline rate is…


Preliminary CPI in Spain repeats at 3.5% in October, but core moderates to 5.2%

Bankinter: Preliminary CPI for October repeats at +3.5% year-on-year (vs. +3.8% expected and from +3.5% previously). The Underlying figure slackens to +5.2% year-on-year (compared to +5.6% expected and from +5.8% previously). On a month-on-month basis, the headline rate rebounds +0.3% and the core +0.4%. More details are available in the press release from the National Statistics Institute linked here. According to Bankinter experts, “the figure is better than expected. Headline…

manufactoring Spain

Spanish manufacturing PMI falls to lowest level of the year, 46.5 from 47.8 in previous month

CdM | Activity in the Spanish manufacturing sector deteriorated in August for the fifth consecutive month and has fallen to its lowest level so far this year, according to the PMI index, which has fallen to 46.5 points from 47.8 points in the previous month, according to the survey by S&P Global and Hamburg Commercial Bank, which has just been reported by Europa Press. The fall in the index in…


Barcelona-Lyon AVE service to start on July 13th and Madrid-Marseille on 28th

The president of Renfe, Raúl Blanco, has announced that the high-speed AVE routes in France will start on July 13 with the Barcelona-Lyon connection, to be followed on July 28 by the Madrid-Marseille connection. Tickets for these routes will go on sale tomorrow, Wednesday. June21st. The Barcelona-Lyon connection will stop in Girona, Figueres, Perpignan, Narbonne, Béziers, Montpellier, Nimes and Valence. The Madrid-Marseille connection will stop in Zaragoza, Tarragona, Barcelona, Girona,…

BBVA Holvi

BBVA redeems 64.6 M treasury shares as part of buyback programme

Link Securities | BBVA (BBVA) notified the National Securities Market Commission (CNMV) of the partial execution of the capital reduction resolution adopted by the Ordinary General Shareholders’ Meeting held on March 17 2023, through the reduction of BBVA’s share capital by a nominal amount of €31,675,343.91, and the consequent redemption of 64,643,559 treasury shares of €0.49 par value each, held by the company as treasury shares. The treasury shares subject…

gas natural almacenamiento

Spain among six EU countries failing to reduce gas consumption target by 15% between August 2022 and March 2023

Alphavalue / Divacons | According to Eurostat, Spain recorded the third worst record in the European Union despite having reduced its gas consumption by 10.8% between August 2022 and March 2023 and is among the six countries that have failed to achieve the 15% target, although EU consumption has fallen by 17.7% compared to the average August-March figures between 2017-2022. Data released on Wednesday by the EU statistics office Eurostat…

Hydrogen Spain

France clashes with Germany and Spain over “pink” hydrogen

Banca March | The lack of support from Germany and Spain for labelling nuclear-derived hydrogen – pink hydrogen – as “green” within the European taxonomy has infuriated the French government, which claimed to have the commitment of both countries. The dispute could call into question the construction of a gas pipeline linking Germany and Spain, as well as delaying European green legislation.

tunnel light end

Wide trains as a symptom

Fernando González Urbaneja | The case of the trains that do not fit in the tunnels is a significant anecdote both of a huge, astonishing error in design and commissioning, and of the absence of explanations and a coherent account of what happened. What we do know is confusing and the laments of the regional presidents affected are insufficient to understand the case. The comments from the ministry and ADIF…

Macron Sanchez

The Hispano-French summit in Barcelona and the schizophrenia of Esquerra Republicana de Catalunya

Emmanuel Macron, President of France, the most centralist and Jacobin of European states, will be received today in the most decentralised country on the continent, Spain. The government has chosen Barcelona as the meeting place, the Barcelona mountain of Montjuic, which was the site of the 1929 Universal Exhibition and the 1992 Games, where the pro-independence supporters, led by Oriol Junqueras, await them. The ERC leader pardoned by Sánchez’s government…