Renta 4 | The present difficult conditions caused by Coronavirus prevent the IAG directive from announcing an estimated operational performance guide for 2020. In principle, the most complicated months should be April and May.
PharmaMar’s shares were trading slightly lower, down 0.20%, at midday today. However that is following a rebound of 33% on Friday, making it the best performing stock on the Spanish stock market. This was after the company announced positive results from studies on Aplidin to combat the coronavirus. As a result, it will ask for tests to be carried out on infected patients.
Ferrovial has won a contract from the UK Ministry of Justice for 632 million pounds (about 725 million euro) through Amey, its UK services subsidiary. This unit is currently up for sale and therefore deconsolidated from the Spanish infrastructure group’s accounts.
Iberdrola has increased its ambition in the offshore wind industry, following the conclusion of an agreement to take 100% ownership of Ailes Marines. The company, which previously owned 70% of the consortium’s capital, has acquired the remaining 30% from Avel Vor. With a global 12.4 GW offshore wind project pipeline, Iberdrola currently operates three offshore wind farms: West of Duddon Sands (389 MW), Wikinger (350 MW) and the 714-MW East Anglia ONE (to be fully commissioned in 2020).
The drop in demand for travel driven by fear of the coronavirus resulted last week in the first corporate bankruptcy, namely British airline Flybe. The firm was already in serious financial trouble after Brexit and rivalry with other companies in the sector. Amongst the victims of Flybe’s bankruptcy is Spanish group Ferrovial. Through a joint venture with the Australian financial group Macquarie, it controls some of the airports used by the airline.
Naturgy will incorporate BlackRock’s Global Energy & Power Infrastructure Fund (GEPIF) as a financial partner in its purchase of 34.05% of Medgaz. To this end, it has sold 50% of the vehicle which will control its participation in the underwater gas pipeline running between Spain and Algeria.
Siemens Gamesa, through one of its subsidiaries, has been selected by Ørsted as a preferred supplier of wind turbines for the Borkum Riffgrund 3 (900 MW) and Gode Wind 3 (242 MW) offshore wind farms, located in the North Sea (Germany), with a total power of 1,142 MW and also including a service and maintenance contract for five years.
Alphavalue | BlackRock has increased its participation to 3.726% in the Spanish market manager in the middle of a takeover bid by the Swiss operator SixGroup. Is BlackRock expecting a counter-coup movement from Euronext?
Enagás has signed an agreement with another Spanish firm, Ampere Energy, to jointly develop several R&D projects for hydrogen production with solar energy and batteries. This will be carried out at the regasification plant in Cartagena (Murcia), owned by Enagás.
With an investment of 4 billion euros, Acciona plans to build renewable energy facilities in the next five years which will generate a combined total capacity of about 5 gigawatts (GW). These new allocations will be added to the portfolio of 10,117 megawatts (MW) which the Spanish group has installed and in operation, with 56% in Spain and the remaining 44% abroad. This has already made it one of the main global players in the sector.