Europe

The king of Spain Felipe has dissolved parliament and called new elections for Sunday, June 26.

"We hope we have all learned the lesson and that the next parliament to agree (on the government) as soon as possible," said the chairman of Patxi Lopez at a press conference in which he confirmed the signature of the king of the decree index voting. The last elections were held in Spain last December, but months of negotiations have failed to produce an agreement between the political forces to form a new government.

Swisscom in the first quarter of 2016 achieved net profit of 364 million francs, up 3.7% from a year earlier. The business volume of the largest Swiss telecommunications operator has instead contracted by 0.3%, to 2.885 billion.

The decline is explained by the reduction of tariffs, it says the biggest Swiss telecom operator said in a statement today.
"In light of the difficult market conditions, are satisfied with the business," says the chairman of the management Urs Schaeppi, quoted in a statement today. "The market is increasingly saturated and it becomes more difficult to gradually grow, for example in the mobile communications sector".

Pierrel Pharma, a subsidiary of Pierrel, announced that Orabloc, its flagship anesthetic, recorded in the first quarter of the year increased sales by 35% compared to the same period of 2015. Considering only the month of March, the product It showed an increase of 42% in sales, reaching a record from 2012 in the North American market. The performance in the first quarter "reinforces the management of Pierrel the idea to accompany towards loftier goals its pharma" division, we read in today’s statement.

The French automobile market is still growing: according to figures released monthly data by the Association of French Automobile Manufacturers (CCFA), the sector recorded a sales increase of 6.5% in April, a slightly lower rate than the first three months of 2016, however, higher than that recorded in the same period last year.

The manufacturing PMI index, prepared by Markit / Adaci, rose in April for the second consecutive month, reaching 53.9 points from 53.5 in March and consolidating above the threshold of 50 that separates growth from those surveys of the sector contraction.

The figure was better than economists’ expectations, which indicated a slowdown in growth, a Reuters poll in fact gave the index to fall to 53.0 share points, with forecasts oscillating between 52.5 and 54.0.

First quarter growth for the accounts of Ferrari: the Maranello recorded in the first quarter net profit to 78 million euro, a record for a first quarter, with an increase of 19% over the same period of 2015 while revenues in 675 million with an increase of 8.8%. Declining net industrial debt, which in late March is 782 million. Total deliveries of cars have reached 1,882 units, an increase of 15%.

The Spanish company Telefonica ended the first quarter with a fall in core profit by 6.7% to 3.376 billion euro, slightly below market expectations, penalized by the exchange rate depreciation.

A profit of 5.7 billion francs in the first quarter of 2016, it was announced by the Swiss National Bank (SNB).
The gold stock has generated a profit of 4.1 billion. The gain obtained on the positions in foreign currencies amounted to 1.2 billion francs. The appreciation of the franc caused exchange losses 6.9 billion, has indicated this morning the central bank.

In the first quarter of 2015, the abandonment of the minimum threshold of franc / euro exchange rate had generated an appreciation of the franc and exchange losses on all the investment currencies in the amount of 41.1 billion francs.