Industrial production
MADRID – Spain’s industrial production shrank 1.8% in July, three-tenths less than the one recorded in June (1.5%) compared to the same month in 2022, continuing to be weighed down by the decline in the energy sector and its mergers. Four consecutive months without positive data, according to the National Institute of Statistics (INE).
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Advances
Madrid – The total number of foreclosures on primary residences fell by 16% between April and June, according to data presented this Friday by the National Institute of Statistics (INE).
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Navantia Enterprises
Ferrol/Madrid – Navantia continues to negotiate with the government of Saudi Arabia to formalize the contract, worth around 2,000 million euros, to activate five corvettes and reject the terms that the Arab kingdom had agreed to freeze the project, almost a year ago. , after the potential entry of Saudi group STC Telefonica.
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Short markets
MADRID – Spain’s stock market lost 0.9% this week, hit by signs of economic weakness, particularly in Europe, and rising oil prices, which could stem a decline in inflation and lead the European Central Bank (ECB) to apply fresh interest rates. rate increases.
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– Spain’s stock market rose 0.59% on Friday to close at 9,364.6 points, reversing seven days of negative territory, as markets awaited the evolution of the economy and the central banks’ next decisions.
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– Other European stock markets ended higher: Paris 0.62%, London 0.49%, Milan 0.28% and Frankfurt 0.14% and the Euro STOXX 50 index, which combines the main listed companies, 0.38%.
– Wall Street is up at the moment and its key benchmark Dow Jones Industrials is up 0.25%, the select S&P 500 is up another 0.22% and the Nasdaq Composite Index, which combines tech companies, is up 0.22%.
– The ECB sets the reference exchange rate for the euro at 1.0704 dollars compared to 1.0710 the previous day.
– At the end of the credit market, Germany’s ten-year bond, considered the safest, yielded 2.606%, compared with 2.609% the previous day.
– By the end of trading in Europe, Brent oil was up 1.1% at $90.9 a barrel, while Texas WTI was up 0.62% at $87.43.
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Savings Insurance
Madrid – Spanish insurance companies closed the first half of the year with a managed savings volume of 258,104 million euros, 4.52% more than a year ago, Unespa, the insurance sector’s employers’ association, said this Friday.
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Berte Automotive
Madrid – A total of 139 companies have already submitted 260 projects, raising more than 7,500 million euros, for the calls for the second phase of assistance of the electric and connected vehicle Berte (VEC). The application period is open until September 15.
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Electric vehicle
MADRID – Hector Gomez, Acting Minister of Industry, Trade and Tourism, has confirmed the government’s commitment to install charging points for electric vehicles in line with European Union (EU) policies, with the aim of promoting their implementation in Spain. )
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– According to calculations by the National Association of Truck and Automobile Manufacturers (ANFAC), Spain needs to double its electric car charging points and reach 45,000 by the end of 2023 to meet the targets set by Brussels.
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Argentina YPF
NEW YORK – Federal Judge Loretta Bresca of the Southern District of New York ruled today in favor of Burford Capital Fund for the forfeiture of YPF with the Argentine state, and forced Argentina to pay the maximum amount. 16,000 million dollars (about 14,940 million euros).
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Ukraine war
MOSCOW – The contribution of oil and gas revenues to Russia’s federal budget fell 38.2% to 4.8 trillion rubles, or $44.76 billion, as of August compared to the same period last year, according to data released today by the Russian Finance Ministry.
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Japan’s GDP
TOKYO – Japan on Friday revised down its gross domestic product (GDP) growth by three-tenths to 1.2% in the second quarter of this year, due to weaker demand from the private sector, data officials said.
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China Coins
BEIJING – China’s currency, the yuan, hit a 16-year low against the dollar this week, a decline cited by the local press for doubts about China’s economic recovery and a cooling of economic activity.
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UPS Credit Suisse
GENEVA – A commission of inquiry authorized by the Swiss parliament in June to examine the crisis that led to the collapse of Credit Suisse, the country’s second-biggest bank until it was bought by UBS, today announced its action plan, which it revealed will hold an inquiry. Poor management of the company since 2015.
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