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The Corner contextualizes the EU’s economy from Spain with exclusive analysis from market leaders.

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Bankia's president J.I. Goirigolzarri

Bankia’s dividend: Timely or premature?

Companies

MADRID | April 24, 2015 | By Fernando G. Urbaneja | Bankia held its general meeting in Valencia (headquarters of one of the integrated in the brand new boxes) this week to approve its 2014 results –the year of the firm’s regeneration– and design its future roadmap. One of its non-explicit goals is to accelerate the partial and progressive privatization of the entity before November general elections in Spain.

Markets

A lot of Greece worries are already priced

The Corner | April 24, 2015 |  Greek PM Tsipras is expected to meet with Chancellor Merkel on the Eurogroup sidelines on Friday. The next key focuses will be the IMF payment (€200mn) on 1 May and the Eurogroup meeting on 11 May. But as Barclays analysts remind, lot of worry is already priced; Greek spreads tightened  for a second day.

euro Greece
Markets

Average S&P500 firm has grown revenues by 2.9% yoy, while EPS grew by 20.1%

The Corner | April 24, 2015 | The Nasdaq closed on Thursday at an all-time high, surpassing record set 15 years ago, at the very dot com boom. But while US equities have been supported by positive earnings, the current market environment is very different from the late 90s.

Traders at Nasdaq
World economy

China’s anti-graft drive: Don’t stop now

BEIJING |  April 23, 2015 | Caixin Editorial | The fact that many government officials are sitting idle, waiting for the storm to pass, proves the campaign must continue.

A renminbi note
Markets

The game of US earnings season’s big day

The Corner | April 2015 | Welcome to the heart of earnings season, with one-third of the S&P 500’s firms reporting today –Google, Amazon, Pepsico, Procter & Gamble and Starbucks amonth them. Analysts are pointing that 75% of the companies have beat forecasts, which is better than the 63% average since 1994. “Everyone knows the game: analysts reduce investors’ EPS expectations so firms can beat them,” experts at Link commented.

US earnings season
Markets

Beware of corrections: Revisions for Euro Stoxx 50 best in five years

The Corner | April 23, 2015 | European equities fell on Thursday, earnings news and economic data from China and the euro zone were worse than expected. But if we take a look at the big picture, analysts are improving their forecast following the better eurozone activity and confidence indicators and begin to revise upward their forecasts for corporate profits. Euro Stoxx 50 revision is of 1.4 times, the best number in five years.

european equities
In Europe

Greece is gasping for a deal

ATHENS | April 22, 2015 | By Nick Malkoutzis via MacroPolis The Greek government made another payment to the International Monetary Fund earlier this month. This time it was just 450 million euros, a relatively manageable amount compared to the 1.5 billion that Greece had to pay back to the IMF in March. Each of these payments brings relief that a possible default has been avoided, but they also bring greater anxiety that a default is getting closer.

Greece deal