Finance snippets October 12

Gold at record high

Gold, a traditional safe-haven asset, has surpassed $4,000 per ounce for the first time, reaching $4,030.30, according to EFE. With a 51.59 per cent gain in 2025, gold is on track for its strongest performance since 1979. The surge is driven by global uncertainties, including the US government shutdown delaying key economic data, which complicates Federal Reserve interest rate decisions. Political turmoil in France, with the prime minister’s resignation, alongside Trump’s trade war and geopolitical crises in Ukraine and Gaza, has further boosted demand for safe-haven assets like gold.

Sweet temptation

Mercadona, the supermarket chain owned by Juan Roig, has launched a new pistachio cake priced at €4.10, hoping to sweeten the transition from summer to autumn. The cake has already caused a buzz, with TikTok user Iris sharing a viral video review, amassing over 100,000 views. She praised the cake’s rich pistachio flavour, tender texture, and generous filling, though noted its intense white chocolate and high sugar content, rating it 8.5/10. However, some users criticised the overuse of pistachio in products, despite the cake’s popularity, reflecting mixed sentiments about this trendy flavour in today’s market.

Financial literacy

Spaniards are making slow progress in financial literacy, lagging behind the European average despite efforts from public and private sectors. Technology is emerging as a key ally, particularly for younger generations, simplifying personal finance management. A Funcas survey reveals 27 per cent of Spaniards feel ill-equipped to manage their money, while the 2023 European Commission Barometer shows only 19 per cent have high financial knowledge, compared to Europe’s 26 per cent. Initiatives like Finanzas para Todos aim to bridge this gap through education.

Amazon anniversary

Amazon celebrated the fifth anniversary of its state-of-the-art robotic logistics centre (SVQ1) in Dos Hermanas, Sevilla, with a high-profile event attended by Andalucia President Juanma Moreno and local leaders.

Since opening, Amazon has poured over €1.2 billion into the region, boosting GDP by €900 million and creating 1,600 direct jobs at the facility—Europe’s largest solar-roofed warehouse with 13,000 panels powering 1,500 homes annually.

The centre, featuring 15km of conveyor belts, supports 2,500 local SMEs, enabling €135 million in exports last year.

Airbus flying

Airbus delivered 73 commercial aircraft in September, totalling 507 units in the first nine months, a 2 per cent increase from 497 in 2024. These include 454 single-aisle aircraft (62 A220, 392 A320), 20 A330, and 33 A350, delivered to 79 customers.

In September, Airbus sealed deals on orders for 10 additional aircraft, bringing the yearly net to 514. CEO Guillaume Faury plans to recover ground, targeting 820 deliveries in 2025, surpassing the 766 in 2024.

Sun power

In a historic milestone, solar photovoltaic energy has overtaken wind power as Spain’s dominant renewable source, with capacity reaching 32,350 megawatts (MW) in 2024, a 22.8 per cent rise from 2024. Wind lagged at 32,100 MW, up just 4.1 per cent.

Overall, renewables hit 66,756 MW, a 12.2 per cent increase, according to Informa’s DBK report. Solar sales rose 17.8 per cent to 43,181 gigawatt-hours, though revenues dipped due to market volatility. Andalucía leads growth at 23.15 per cent, nearing Castilla-La Mancha’s top spot.

Steel clampdown

European Commission proposes doubling steel import tariffs to 50 per cent from 25 per cent, targeting Chinese overproduction to safeguard Europe’s steel sector. Quota-free imports will halve to 18.3 million tonnes, improving traceability to curb evasion.

The EC vows to protect 2.5 million jobs amid unfair competition.

Smishing victim

Organisation of Consumers and Users (OCU) has successfully intervened to ensure a BBVA customer recovers the full €8,620 stolen via smishing, a text-based phishing scam. The fraudsters sent deceptive SMS messages tricking the victim into revealing information. The bank reimbursed the entire amount following OCU’s advocacy, highlighting the importance of consumer protection in digital fraud cases.

Cash is king

European Central Bank (ECB) has clarified how much money households should stash away at home to weather crises like blackouts or wars. In a new report, it stresses cash’s role as a vital backup when digital payments fail. Experts recommend 200-500 euros per person for essentials. Financial resilience with preparedness.

Bounce back

Supermercados Dia has turned profitable, reporting a net profit of €37.8 million for the first half of 2025, compared to €94 million losses last year. The figure includes €12 million from discontinued operations. Strong Spanish operations and a sustainable value strategy for shareholders and stakeholders fuelled the recovery, per CNMV filings.

Power surge

Spain’s wholesale electricity prices dropped 10.8 per cent in September to €61.04/MWh, driven by surging solar energy production and a 14.7 per cent fall in gas costs to €32.04/MWh. Midday rates plummeted 54 per cent year-on-year despite higher demand and reduced wind output. Renewables hit 60 per cent of generation, though grid limits favour gas.

Iberian China

Amid escalating EU-China trade tensions, with tariffs up to 62.4 per cent on European pork, Spanish Iberian ham exports to China surged to €28.08 million in 2024. First-half 2025 sales hit €11.74 million, a 8.4 per cent rise. Iberian pork products evade duties, fuelling promotions like ‘Awaken Your Ibérico Sense’.

Defence boom

Spain’s defence, security, aeronautics, and space industry achieved €16.153 billion in 2024 revenues, a 16 per cent jump, driven by Ukraine war and China tensions. TEDAE reports 2.3 per cent of national industrial turnover, 260,000 jobs, €9.931 billion exports, and €2.614 billion R&D.

Blackout Risk

Spain’s energy industry blasts Red Electrica de España (REE) for alerting CNMC to potential blackouts like April 28’s, blaming renewables, synchronous response lags, and unseen autoconsumo up to 8 GW. “REE admits control loss over years,” sources say.

Boeing military

Boeing delivered Germany’s inaugural P-8A Poseidon, first of eight replacing P-3C Orions, improving NATO deterrence in the Baltic against rising Russian submarines. This “flying guardian” boasts 907 km/h speed, 12,496m ceiling, Harpoon missiles, and 129 sonobuoys. Germany eyes four more, joining eight P-8A operators with over 700,000 flight hours.