IBEX


Telefónica Q1'18 results

Telefonica’s Blown It With Telxius IPO

These are not good times for IPOs. Telefónica has been obliged to cancel the IPO of its infrastructure affiliate Telxius, with the agreement of the placement banks. With the stock market listing, Telefonica had hoped to reduce its hefty debt pile of over 52 billion euros. But market pressure has forced it to backtrack. Telefónica’s shares opened down 4% on Friday. So far this year, the shares have still lost over 8%.



Bankia’s CEO Goirigolzarri still doesn’t convince the markets

When the former CEO of BBVA, José Ignacio Goirigolzarri (62) arrived at Bankia in 2012, the most critical year for the bank (19.2 billion euros of losses), everyone celebrated his appointment. They saw it as a guarantee that Bankia would succeed in getting back on its feet within the expected timeframe, not only in terms of its business but also terms of its stock market valuation.


Caixabank has very efficient cost structures

Caixa Bank BPI – Clarity Gained, Capital Action Taken

UBS | Once CaixaBank gained further clarity around BPI’s deal’s viability, it announced a placement of its own treasury shares near Thursday’s market close. This sale amounts to the 585m shares (9.9% of capital) which CaixaBank received as a result of the asset swap (involving BEA/Inbursa stakes) with Criteria in December last year.


Banco Popular announces lay offs, branch closures to get itself out of a jam

Banco Popular has had no other option but to take drastic measures to get itself out of a jam. The huge amount of impaired property assets on its balance sheet has forced the bank to make two capital hikes worth 5 billion euros, restructure the organisation, which includes the appointment of a new CEO and announce that it will lay off 3,000 employees and close 300 branches.


Inditex's flexible model

Inditex Posts Record-Beating 8% Rise In Profits; Creates Nearly 10,000 Jobs

First half results from Inditex have once again been record-beating. The company owned by Amancio Ortega, the world’s richest man in 2016 according to Forbes, posted an 8% rise in net profit to 1.256 billion euros in the first half of its 2016-2017 fiscal year (this runs from February 1 to July 31) from a year earlier.


agrees on sale of its 20.07 % stake at €19/share

Repsol: Analysts More Upbeat After Gas Natural Stake Sale

Mari Pinardo / Julia Pastor | At the start of this year, Repsol launched an ambitious Strategic Plan to allow the Company to eliminate its debt and weather the storm of low oil prices. The plan includes: divesting non-core assets for a total of 3.100 billion euros via a series of deals, one of which was the possible sale of its Gas Natural stake. The chance came along and on Monday Repsol announced it has agreed to sell 10% of its stake in the gas company for 1.901 billion euros. The operation has been well received by the markets and by analysts.