There are rumours of a corporate transaction. Iberdrola, Gas Natural, Engie and Enel are tipped in the press to be candidates for a key role in a corporate deal with EDP. These companies would potentially be interested in participating in an operation, so as not to be outmanoeuvred in the next wave of mergers in the sector.
European buybacks seem to be increasing by approximately 25 billion euros to a universe of 420 shares (excluding the banks) with a combined market capitalisation of 8 billion euros.
Is the fact that the state owns a stake in a company, with the corresponding voting rights, an obstacle for it or not? AlphaValue has arbitrarily established the level of 15% as a sufficiently big enough quota to be able to offer an opinion about the strategy which may not coincide with the best interests of other shareholders.
German energy firms RWE and E.ON have announced an exchange of assets as part of a major deal which will transform the country’s electricity sector and could be worth some 20-22 billion euros (which according to Alphavalue’s calculations corresponds to an EV of 43 billion euros: market cap + debt).
In a preliminary analysis of European companies’ results, consensus-beating EPS and higher-than-forecast sales stand out.
Deutsche Bank’s shares fell 6.21% on Friday, after the bank unveiled weak Q4 figures and a third consecutive year of losses. Germany’s biggest bank reported net losses of 497 million euros in 2017, following losses of 1.35 billion in 2016 and 6.77 billion in 2015.
ArcelorMittal, the leading global integrated steel and mining firm, said it posted net profit of 4.568 billion dollars in 2017 (3.670 billion euros), 157% up from a year earlier. It will also pay a dividend again for the first time since 2015.
If there is something that the months of January have in common every year are the numerous sectorial reviews which every analyst consensus makes. Tradition focuses on 12 companies in the Stoxx600 with a recent buy recommendation.
Abengoa is considering selling the remaining 16.5% stake it holds in Atlantica Yield and some investment funds could be interested, press reports say.
Abengoa has signed a contract with Algonquin Power & Utilities Corp. (APUC), which provides public services in the renewable and regulated energy sector, for the sale of a 25% stake in Atlantica Yield for $607 million.