Articles by The Corner

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Puig edificio

Puig acquires remaining 50% stake in Laboratorios Isdin for €1.2 billion

Puig Brands notified the CNMV yesterday that it has entered into a share purchase agreement with Corporación Químico-Farmacéutica Esteve, S.A., to acquire shares representing 50% of the share capital of Isdin, S.A., a Spanish company operating in the dermo-cosmetics and skincare sector. Upon completion of the transaction, PUIG will hold 100% of Isdin’s share capital. The total purchase price for the shares is a fixed amount of EUR 1,200 million,…


Global debt

Spanish 10-year bond yield breaks the 4% barrier, reaching levels not seen since 2013

Following the interest rate hike in the eurozone—when the ECB raised its official rate by 0.25 percentage points to 2.5% last Thursday—eurozone debt has begun its ascent. Consequently, the yield on Spanish 10-year sovereign bonds has pierced the psychological 4% threshold for the first time since 2023, hitting levels last seen in 2013. Specifically, the Spanish 10-year bond rose to 4.022% around 4:45 p.m. this Monday, trading near 2013 highs….


Ibex 35

Spanish stock market: 41 stocks rated Buy and 6 rated Sell according to the September Market Consensus

Patrivalor | According to the September market consensus, there are currently 41 stocks with a buy recommendation (scored between 1 and 2 points), compared to 44 at the close of 2025. The recommended stocks are: Inditex, Amadeus, IAG, Cellnex, Logista, Almirall, Puig Brands, Cirsa, Neinor, Faes, Pharmamar, DIA, Atresmedia, Aedas, Arcelor, Repsol, Acerinox, Cie Automotive, Vidrala, Indra, Técnicas Reunidas, Ence, Tubacex, Ferrovial, Merlin Properties, FCC, Inmobiliaria Colonial, Sacyr, OHLA, Iberdrola,…


Acciona energia guapa

Only EQT remains in the bidding for Acciona Energía.

Investment managers KKR and BlackRock have reportedly dropped out of negotiations to acquire a significant stake in Acciona Energía (ANE). KKR apparently declined to proceed with the deal after acquiring Electricité de France’s North American renewables business for $4.2 billion. Meanwhile, BlackRock—which was participating through GIP—withdrew from the bidding after failing to meet the asking price set by the Entrecanales family: over €8 billion, an amount similar to the company’s…


Xi Jinping & Modi

The real BRICS summit happened in a side room with Modi and Xi

Alicia Gª Herrero (Natixis) | After a sleepless night, the New Delhi Declaration was adopted unanimously at the eighteenth BRICS summit on September 12, after managing to find language that Iran, Saudi Arabia and the United Arab Emirates could all live with. That was the ceremony but the real action happened on the margins, where Narendra Modi received Xi Jinping for the first Chinese visit to India since 2019, and the…


donald trump

Trump wants to buy votes – at $5,000 each – for the November elections

Donald Trump announced a policy proposal at the Republican Midterm Convention in Dallas: he promised to deliver a $5,000 “Trump Dividend” to every adult U.S. citizen if the Republican Party retains control of the House of Representatives and the Senate in the midterm elections. Under the slogan “if the Republicans win, you win with us,” the president claimed that the payment would be funded by revenues derived from his trade…


Judges

The Supreme Court suspends the electoral effects of a “Grandchildren Law” that had already generated nearly half a million new voters

The Third Chamber (Administrative Litigation) of the Supreme Court has issued a precautionary suspension of the electoral effects linked to the “Grandchildren Law” (eighth additional provision of the Democratic Memory Law). The decision comes in response to appeals filed against a ministerial instruction that arbitrarily broadened the criteria applied in consulates following the law’s entry into force. The instruction in question applied a blanket presumption of exile status to those…


Telefónica chapa sede 1

Morgan Stanley, holder of STC’s shares in Telefónica, reduces its stake from 13% to 8.3%

The adjustment in the reported stake by the US firm is due to the expiration of a portion of the financial derivatives used to hedge STC’s position in Telefónica. US investment bank Morgan Stanley has reduced its stake in Telefónica to 8%, a move that places the current value of its position at €1.726 billion, according to filings with the Spanish National Securities Market Commission (CNMV). Specifically, the entity’s holding…


ECB's president Christine Lagarde

ECB raises rates by 0.25 to 2.5%: Prices rise, and so does the cost of money

Julian Marx (Flossbach von Storch) | Strength lies in calm, and this applies to monetary policy as well. As a rule, the European Central Bank (ECB) avoids generating unnecessary suspense before potential changes in interest rates. This occasion was no different: Bundesbank President Joachim Nagel virtually previewed the rate decision when speaking to the French newspaper Le Monde in early September: “Inflation is currently very far from our medium-term target…


Naturgy launches strategic plan

Naturgy’s chairman asserts that Spain’s Energy Plan is obsolete

Francisco Reynés, executive chairman of Naturgy, considers that the National Integrated Energy and Climate Plan (PNIEC) has already become obsolete given the pace at which the energy sector and the international landscape are evolving. “The National Integrated Energy and Climate Plan, from my perspective, has already become obsolete. Even the latest update lies far behind, not so much in terms of time, but when compared to all the events that…