Intermoney | Aena (Buy, PO €205) announced on Monday its monthly traffic data for September. During last month the number of passengers in Spain rose year-on-year by 8% to 29.6 million. Both Barajas and El Prat grew by close to 10%, a figure that was not out of line with the rest of the relevant airports, outperforming for example Palma (up 5%) and Ibiza (0%). The national total in September…
Bankinter | September’s final CPI confirms 1.5% year-on-year preliminary and moderation from 2.3% in August. Month-on-month also confirms preliminary down 0.6% month-on-month (0% month-ahead). Core CPI at 2.4% year-on-year same as preliminary and from 2.7% previously); -0.4% month-on-month. Bankinter analysis team’s view: Final data confirm a better-than-anticipated performance through September. In fact, EMU CPI came in at 1.8% year-on-year (preliminary), which gives the ECB room to move below its target….
Norbolsa | The president and owner of the Spanish steelmaker Sidenor, José Antonio Jainaga, is postulated as an industrial investor to take the entry in Talgo (as demanded by the Basque government). The operation would be carried out through the investment vehicle Mirai Investments, created in 2019 to acquire industrial businesses with a consolidated track record but that have the capacity for operational improvement, are undergoing transformation or have successions…
The Spanish company Navantia, along with its subsidiary Navantia UK, is currently exploring all kinds of alternatives, including the purchase of the British Harland & Wolff (HW), to save a contract worth €1.9 billion. The viability of the programme for the construction of three logistical vessels for the Royal Navy’s Auxiliary Fleet depends on Harland & Wolff. In fact, this company, founded in 1861 and famous for owning the shipyard…
J.P. Marín-Arrese | The corruption scandal involving a former minister, second in command of Mr Sánchez in the Socialist party, not only inflicts political damage. It dents Spain’s credibility as a reliable country. The disclosure of the tepid way an unscrupulous gang managed to ransack public funds and indulge in influence peddling portrays a dismal picture of governance enforcement. Even PM Sánchez proved most economical with the truth at Parliament when…
Link Securities | BBVA’s Board of Directors has approved the pre-financing of €1.5 billion in convertible bonds (CoCos), bringing forward the 2025 issues to reach the key moment of the takeover bid for Sabadell with sufficient liquidity, according to the newspaper Expansión. The newspaper points out that BBVA has already covered all of this year’s issues, but that when the takeover bid becomes effective, the bank will enter a blackout…
Enagás and its partners are preparing to face the first major test for H2Med, the future hydrogen interconnection that will link Spain and Portugal with France and Germany, explains El Economista. The system operators from the countries involved in this project – Enagás in Spain, REN in Portugal, Teréga and GRTgaz in France, and OGE in Germany – will launch the so-called ‘Call for Interest’ on November 7th, aimed at…
Banco Sabadell : According to CNMV records, Melinda French Gates has floated a 4.3% stake in FCC. This move would be related to the stake reduction announced by Bill Gates last week (to 1.9% from 5.7%). On the other hand, press reports indicate that it expects to list its Cement (99% FCC; 4% EV FCC) and Real Estate (80% FCC; 17% EV FCC) subsidiary called Inmocemento in November this year….
The president of CIE Automotive, Antón Pradera, stated at an event organized by Deusto Business Alumni and Deloitte in Bilbao that the European energy transition policy in the automotive sector is a disaster. He warned that the sector in the EU is “very, very concerned” because it has stopped being a world champion, and in contrast to China’s subsidies for its industry and the tax incentives for US manufacturers, European…
Alphavalue: The company has suspended its IPO for the fourth time, for the second time this year, two days before it was due to go ahead. In the statement to the National Securities Market Commission (CNMV), they informed that they were cancelling the operation due to the geopolitical situation, which is causing instability in the markets. However, according to the Financial Times, the fact that an IPO has been halted…