IBEX


Grifols

FDA approves Grifols’ Xembify in the US

Spanish multinational pharmaceutical and chemical manufacturer Grifols (GRF) has received the approval of Xembify (20% concentrated subcutaneous immunoglobulin) by the FDA for the treatment of primary immunodeficiencies.


Masmovil

MasMovil quotes a very attractive return on cash flow attributable to shareholders: 11.7%

Santander Corporate & Investment | In 1Q19, MásMóvil (MAS) registered 140,000 new net subscribers in fixed broadband (compared to expectations of less than 100,000 for the entire market) and the trend in 2Q19 remains solid, considering fixed ports, suggesting no less of 100,000 net connections in 2Q19 and implies a risk of upward deviation for the scenario that we handle of 350,000 net connections in 2019E. 




The mutualist roots of Mapfre has not let it keep up with the rest of the sector

Mapfre completes the purchase from Santander of 50.01% of a new insurance broker

Mapfre (MAP) said this week that the acquisition, which had already been announced in January, of 50.1% of a new insurance broker from Banco Santander through its subsidiary Mapfre España has been completed, pending the corresponding authorisations. The broker will commercialise insurance for cars, multi-risk trade, multi-risk SMEs and civil responsability exclusively for Santander´s network in Spain.


Ibex35

IBEX end of year forecasts: top down 9,030 points; bottom-up 10,782 points

Sabadell revised all the forecasts and objective prices for the companies they cover and highlight their favourite shares in their portfolios (model, 5 value portfolio, high yield and SME portfolio). Although they do not change their recommendations, they significantly revise the valuation of Cellnex (+15%), Sacyr (+15%), Iberdrola (+13%), FCC (-7%), Unicaja (-7%), Caixabank (-8%), Liberbank (-13%), Bankia (-14%) and Arcelor (-22%).


Ferrovial

Ferrovial’s Motorway division accounts for 72% of O.P.

Banc Sabadell | Despite Ferrovial´s excellent performance this year (+26% in absolute terms and +17% vs IBEX) our Objective Price still suggests potential (c.+10%) and the share remains one of our main bets in the sector.



Norway’s sovereign wealth fund holds 3.024% in Telefonica

Bankinter | Norway´s sovereign wealth fund informed the Spanish markets regulator (CNMV) that it now holds 3.024% in Telefonica (TEF). This is an increase of more than 1% since it last informed the regulator of its holding in the Spanish telecommunications company last February.