Although the difficulties that the Spanish small and medium sized companies experience to access finance showed signs of very soft relief, the figures were bad. The latest survey on SMEs in the euro zone offered a stark picture of small companies in Spain suffering the worse end of the credit crunch, as a consequence of [...]
All posts by thecorner.eu team
Look at US T-bill sales before blaming market saturation for lower bund demand
MADRID | The German Treasury placed Wednesday €2.4 billion in 30-year bunds with an average return of 2.41%, down from 2.62% in the previous auction. The bid to cover dropped to 1.1 times from 2.1 times. Berlin admitted that demand had been lower than expected, and the total sale volume planned had been left uncovered. In a note to investors, Citigroup in Spain commented on the German explanations [...]
Direct investment in Spain increases for the second year in a row
By Carlos DÃaz Guell, in Madrid | Global foreign direct investment flows in 2011 increased by 17% year on year, recovering pre-crisis levels. Spain also regained investment flows into equity last year, with a rise in total net investment (total minus divestiture) of 18.2% year on year that reached 1.8% of GDP. Some aspects of this foreign [...]
Beware France
By Jesús Sánchez-Quinones, in Madrid, for Cotizalia | Europe has for more than three years now been immersed in a profound crisis of its economy and beyond. The focus of trouble has been moving from country to country. First it was Greece, when its authorities acknowledged that they had falsified its public account figures in late 2009. After [...]
Repsol, Inditex among 64 European stocks ​​recommended by Morgan Stanley
MADRID | Morgan Stanley in Madrid released an investor note on Tuesday with some recommendations, and we spotted a couple of Spanish companies (always on the bright side, we know…) “We propose the following basket of 64 stocks ​​(Nifty Fifty +) with the intent to replicate the behaviour on the original list (Nifty Fifty) for the [...]
Can the euro mess up the US economy? Yes, it can!
By Luis Arroyo, in Madrid | What I would like to do here is bringing a magnifying glass on to a recent lapse of time and see if the fourth euro crisis (yes, I said fourth) has somehow cooled the US economy down. It’s possible, you know. In the US, the authorities are beginning to see signs [...]
Monday’s graph: improvement in gross debt ratio of Spain’s private sector
International Financial Analysts Afi brought to our attention this chart from 2011 financial accounts in Spain, which confirm that ratio of gross debt (loans and different security prices) of households and businesses in Spain has dropped by 13.5 percentage points of GDP. The figure is now 216pc, down from the maximum levels reached during the [...]
JP Morgan believes Wall Street is set to shrink with or without Obama
LONDON | The US 2012 election result can do little to change the fate of Wall Street under the extreme pressures of a global credit crunch and a relentless economic crisis. In a paper issued Monday by JP Morgan Asset Management, the investing company said that the financial sector will likely shrink after having become quite [...]
Hollande vs Sarkozy: a quick check by JP Morgan
MADRID | Although nine candidates attempted on Sunday to pass through to the second round of the French presidential elections, only two mattered in the dispute for the trophy: Nicolas Sarkozy, current president of the republic, and the socialist Francois Hollande. Two days after the first round of elections, the polls are very clear and give a [...]
Lloyds TSB forecasts UK economic recovery “very weak”
LONDON | Consumers’ discretionary spending in the UK continued to deteriorate in March, and after inflation fell 1.1% from a year earlier, reaching its lowest level since February 2011. This equates to £113 less a year to spend on non-essential items. In its latest Spending Power Report released Monday, Lloyds TSB said hopes for a [...]
