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 | By The Corner team | The Argentinian currency’s fall is the biggest in 12 years with a yearly drop of 17%. Although the key for European peripheral countries may be other countries’ contagion like Brazil, Mexico or Venezuela, their exposure to Argentina is moderate. In the case of Portugal it is almost near zero. And what about Spain, specifically?
MADRID | By Luis Arroyo | During the so-called Transition period in Spain, a new entrepreneurial force should have arisen, but there was a destruction of the nationalized companies. Thus, the country doesn’t have strong big firms. Something is wrong with the Spanish fiscal system.
MADRID | By Javier Flores and Tania Suárez | Major foreign investment operations in Spain are essentially financial and take place in strategic sectors. Bill Gates’ purchase of 6% of Spanish construction company FCC for €113.5 million is a good example. And the trend will continue and speed up in the coming months.