Today Qatar Airways buys 10% stake in BA-owner IAG (FT)
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The Corner contextualizes the EU’s economy from Spain with exclusive analysis from market leaders.

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italian banks

Italian banks: It’s the end of the world as we know it

In Europe

LONDON | BNP Paribas | Over the years we have abstained from discussing M&A scenarios among Italian banks as we always deemed it highly speculative. However we believe the proposed reform of the Italian Popolari banks (forcing them to demutualise within the next 18 months) changes everything with defensive M&A among small and mid-cap banks a distinct possibility. 

 

Companies

Qatar Investment Authority secures majority stake in IAG

By Sean Duffy | MADRID | The announcement on Friday of the Qatar Investment Authority’s purchase of 9.99% of IAG is the latest flexing of financial muscle from the Gulf state. QIA continues to grow its portfolio in Europe, having already invested over €13bn in Spanish companies since the beginning of the crisis.

In Europe

Eurozone prices continue to slump

MADRID | The Corner | January ends with bad news for the eurozone: consumer prices fell sharply (0.6% lower than in January 2014, having been down 0.2% on an annual basis in December). This is nothing strange given cheap oil prices, merely adding stress for policymakers. The European Central Bank hopes to stop this decline in prices -the largest since July 2009- with its new bond-buying program starting in March.

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In Europe

Spanish banks improve after rough start to the week

MADRID | By Sean DuffyMarket fears about Greece eased somewhat on Thursday, with Spanish banks recovering the ground lost earlier in the week. Friday brings new data on unemployment and GDP which may bring further good news for the Spanish economy

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In Europe

Dollar appreciation benefits Spanish firms

MADRID | The Corner | The onset of QE by the ECB will have several consequences but one of the most important is the continued depreciation of the euro against other currencies. The significant appreciation of the dollar, the pound and the Brazilian real in recent months could be very positive for Spanish companies,” but it depends on how they are funded in these countries and whether the currency risk is covered,” said experts BekaFinance.

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