POWER: Spain’s Asco 1 Nuclear Plant Halts Wed Evening in Unplanned Outage
Jun-05 07:52
The 1.03GW Asco 1 nuclear plant had an unplanned outage on Wednesday evening that is scheduled until 7 June 22:00 UTC, remit data showed.
- Separately, the 1.01GW Almaraz 1 nuclear plant is scheduled to return on 6 June 18:00 UTC after an unplanned outage that started on 1 June.
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ITALY DATA: Stronger-than-expected April Services PMI, But Export Demand Soft
May-06 07:51
The Italian services PMI was 52.9 in April, above the 51.3 expected and 52.0 prior. It’s broadly back in line with February’s 53.0 reading, allowing the PMI to remain in expansionary territory for the fifth month. Despite this, the latest flash national accounts suggested the services industry made no contribution to sequential value-added growth in Q1.
The press release suggests further weakness in export demand, usually an important source of Italian growth.
Key notes from the release:
- “Where panellists reported increased activity levels, they typically linked this to greater inflows of new work and recent new customer intakes”….“ According to survey respondents, there were various factors driving the improvement, namely new project wins, recent customer onboarding and a general boost in demand for services”.
- “Meanwhile, there was a ninth consecutive monthly drop in new work from abroad in April. International sales were reportedly limited by weakness in key export markets.”.
- “Services firms in Italy continued to hire additional staff in April”.
- “Reflective of increased purchasing prices, as well as greater staff and energy related costs, there was a further rise in overall operating expenses”…“ Although average charges rose again in April, there was a loss of momentum as the rate of inflation cooled to its weakest in the year-to-date”.
- “Looking ahead, increased levels of uncertainty and concerns towards the economic climate weighed of firms' expectations regarding activity over the coming 12 months”.
EGB SYNDICATION: Germany 30-year Syndicated Tap: Guidance
May-06 07:31
- EUR Benchmark Tap of DBR 2.9% 08/15/56 DBR+3.25 Area (MNI expects E4-6bln)
- Benchmark: DBR 2.5% 08/15/54
- Coupon: 2.9%, annual, act/act, long first
- Settlement: May 13, 2025
- ISIN: DE000BU2D012
- Bookrunners: Barclays, Citi (B&D), CA-CIB, DZ Bank, GS, JPM. Remaining members of the Bund Issues Auction Group will be invited into the co-lead group
- Timing: May price today
Details as per BBG
EUR: An underlying bid goes through in the EUR
May-06 07:31
- A small underlying bid in the EUR is going through combined with some offers in the USD, the EUR is testing intraday highs against the USD, GBP, CHF, AUD, SEK, and NOK.
- While the Aussie is the worst performer, next resistance in EURGBP comes at 0.8557 High Apr 28.
(Chart source: MNI/Bloomberg).
