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

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EC president Jean-Claude Juncker

“Eurogroup is dominated by Schäuble and he will not agree to any recovery measures”

In Europe

BRUSSELS | April 1, 2015 | By Alexandre Mato | Former British MEP Stuart Holland, who was economic assistant to Jaques Delors when the French politician was the EC President, speaks out against German finance minister Wolfgang Schäuble’s negative influence in attempting to derail the Juncker Plan.

Markets

“The City and Wall Street dished out an unreasonable level of punishment to the euro”

MADRID | April 1, 2015 | By Fernando Barciela | The Corner caught up with Luis Iturbe, a board member with Spanish insurance giant, Mapfre. He emphasises the improving health of the Spanish banking sector, but says that the capital increases by lenders, notably Santander, have prevented the Spanish stock market to reach the same revaluations as its peers. He also states that markets in London and New York dished out an unreasonable level of punishment to the euro and Greece.

IturbeTCbaja
In Europe

PMI figures to remain flat in euro zone

The Corner | April 1, 2015 | Manufacturing PMIs are the only significant data due in the EMU on Wednesday, with data from the US set to drive market sentiment in the day ahead.

Danone factory
Markets

Bankinter: Spain’s Ibex to reach 12,878 points (+12%) in 2015

The Corner | March 30, 2015 | While much of the attention is focused on bonds, it should also be noted that stocks and real estate market are also worth more. How much? Bankinter analysts forecast that Spain’s Ibex will reach 12,878 points (potential + 12%) in 2015; EuroStoxx50, 4,338 (+ 18%); S&P 500, 2,333 (+ 10%). The Japanese Nikkei remains the least attractive option at 20.305 (+ 4%).

Investors
Markets

EBA on Basel III Monitoring Exercise

BBVA Reasearch | March 31, 2015 | The EBA (at European level) and the BCBS (at global level) both published their 7th Basel III Monitoring Report on March 3rd, using data as of June 2014. Overall, the trend towards enhancing the resilience of banks’ balance sheets is underpinned. Indeed, there has been an improvement in all the three pillars of the new prudential framework: capital, leverage and liquidity. The EBA estimates a capital shortfall of EUR2.8bn for a 7% CET1 of Group 1 banks, which means a decrease of 75% compared with the previous publication. 

Basel III monitoring exercise in 4 charts
In Europe

Retail sales show improvement in Germany and Spain

The Corner | March 31, 2015 | German and Spanish retail sales have improved markedly compared with this time last year. Unemployment figures for the euro zone are expected to fall slightly, while results of EU inflation figures will be keenly monitored in the wake of the ECB’s sovereign bond purchasing programme, launched earlier this month.

Demanda_domestica1TC
Markets

Spanish banks: Income quality remains a challenge in 2015

MADRID | March 30, 2015 | By Nuria Álvarez, at Renta 4 | Strong gains to remain challenging in the year ahead as banking environment undergoes sectoral changes.

Spanish banks