Fitch downgraded Red Eléctrica (REE, A- from A, and elevates the perspective to stable from negative) after the firm’s acquisition of Hispasat. The credit rating agency says that the 2018-2022 strategic plan announced by the group in February “does not support a capital structure consistent with the ‘A’ rating level in the medium term.”
Banc Sabadell | Telefonica will decide in the coming days between the binding and final offers it has on the table, namely Digital Realty, Equinix and Brookfield’s. The price would be around 500/600 million euros. The Spanish tech company has 23 data centers in 9 countries.
M&G Valores | A sustained annual growth in profits of 4% is well below that of previous bull cycles in the stock market, but seems realistic in the current situation. We have on one hand the modest growth of developed economies (secular stagnation), and on the other the composition of the Ibex dominated by regulated sectors, with modest growth, and the banks.
Banc Sabadell | The regulator has announced that TCI will make an accelerated sale of 0.8% of AENA at an estimated price (according to Bloomberg) of 159.53 Euros/share (-2.2%).
Bankinter | The company has announced that it will share 1.44 euros gross per share as a complementary dividend. This means that the total dividend for the year will be 1.89 euros/share (+37% over the previous year).
Acciona has won two contracts for maintenance of Canadian roads, which means taking responsibility for 4,200 km of carriageways in the province of British Columbia for 10 years for 235 million euros.
Morgan Stanley | There is no doubt that Inditex (ITX) is a high quality and well-managed business with an impressive historical record.
Alphavalue | The perspective for Siemens Gamesa presumably seems brilliant offshore, given that the industry is now focused on the high sea. Aerogenerator makers declined significantly in 2017 due to the system of auctions in almost all markets, which put pressure on prices in the whole supply chain.
Alphavalue | Santander bank just created the Company Landmark Iberia to transfer all the land assets it has due to its exposure to the housing market.