European economy

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Telefónica, through Virgin Media O2 subsidiary and Vodafone strengthen agreement to share mobile networks over next 10 years

Link Securities | The Spanish telecom, through its subsidiary Virgin Media O2, and Vodafone have reached an agreement in the UK to strengthen their mobile network sharing agreement for the next ten years, Expansión newspaper reported yesterday. The deal incorporates the purchase of assets from Vodafone to facilitate a merger with Hutchison subsidiary Three in the country. Perhaps the most novel aspect of the deal is that VMO2, in which…


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Airbus delivers 323 aircraft this year, 4% more than in same period 2023

Norbolsa | Airbus (AIR) delivered 67 aircraft in June, bringing the total number of aircraft delivered in the first half of the year to 323, up 2% compared to the first half of last year. In the second quarter it increased deliveries by 4% compared to the same period last year. It intends to slow the ramp-up of production of the flagship A320neo Family, reaching 75 aircraft created monthly in…


Sintra BCE

Lagarde opens ECB annual forum in Sintra, and says economy’s “soft landing not yet guaranteed”

Banca March: Christine Lagarde opens the ECB’s annual forum in Sintra, warning that “the soft landing of the economy is not yet guaranteed”. The head of the monetary authority has asked for more time to make sure that the risks that could push inflation above the 2% target have passed, indicating that the strength of the labour market gives them some room to gather more information, stressing the message of…


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Construction begins on Germany’s first onshore LNG plant to be operated by Enagás

Alphavalue/DIVACONS | The laying of the foundation stone for Germany’s first onshore Liquefied Natural Gas (LNG) terminal, which will be operated by Enagás and come on stream in 2027, was held last Friday in Stade. More than 1,100 people will work on the construction of Europe’s two largest LNG tanks, each with a capacity of 240,000 cubic metres, which will also be able to operate with renewable ammonia. The terminal…


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Money supply in Eurozone reactivates with +1.6% annual growth, 3/10 of a percentage point higher than previous month

Banca March: In the euro zone, the money supply is showing signs of recovery while the battery of confidence indicators in the region shows a slowdown. In May, money supply (M3) accelerated more than expected, growing +1.6% year-on-year, three-tenths of a percentage point higher than in the previous month and with credit granting also picking up. In particular, loans to non-financial companies advanced +0.3% year-on-year, the same pace of growth…


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German consumer confidence worsens to -21.8 points in July versus -19.5 expected against -21.0 earlier

Bankinter: Consumer confidence worsens to -21.8 in July versus -19.5 expected against -21.0 previous (revised from -20.9). Analysis: The index that measures Consumer Confidence interrupts the improvement trend of the previous four months in an environment marked by the rebound in Inflation (+2.4% in May versus +2.2% before). This is not a good sign, it confirms the weakness of the German economy, something that is also seen in the latest…


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Faes Farma eyes purchase of European pharmaceutical company

Norbolsa | Faes Farma (FAES) held its shareholders’ meeting on Tuesday, where it endorsed the appointment of the new CEO Eduardo Recoder de la Cuadra, who will take up his new position on 1 September. On the other hand, the company reported that it is studying the purchase of a European pharmaceutical company, without giving additional data. As for the new Derio plant, they recalled that it will come into…


ECB bonds

Schnabel says threat of potential price shocks makes it impossible to commit to fixed path for rates

BancaMarch: ECB Executive Board member Isabel Schnabel has said that the threat of potential price shocks makes it impossible to commit to a fixed path for the level of interest rates. The monetary authority expects a process with ups and downs in price changes, although Schnabel said that recent progress points in the right direction. She added that now that inflation is easing, wage growth is gradually declining and there…


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CAF to supply 88 buses to Swedish transport operator Nobina for €50 million

Intermoney: According to various media reports, Nobina, one of Sweden’s leading transport operators, has awarded CAF (Buy P.O. €42) the supply of 88 electric buses of various Urbino intercity and city models for the regions of Skåne, Värmland, and the city of Malmö. The total amount of this order will exceed €50 million. CAF continues to consolidate its position in Sweden, following several contracts won last year, including the supply…


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BBVA to launch digital bank in Germany in 2025 after positive experience in Italy

Alphavalue / Divacons | BBVA will launch its digital bank in Germany in 2025. This was announced by the bank’s country manager in Spain, Peio Belausteguigoitia, during the Summer Courses of the Association of Economic Information Journalists (APIE), held at the Menéndez Pelayo International University (UIMP) in Santander. On the other hand, Belausteguigoitia ruled out the possibility of his institution going after another entity if the takeover bid it has…