IBEX

Santander results: Attributable profit grows 18%

Banco Santander’s Capital Raising Operation Will Have A Higher Discount Than Market Expectations

Banco Santander will raise 7.072,4 billion euros as expected via a rights issue in order to”provide sufficient coverage for the acquisition of 100% of Banco Popular’s capital.” The operation will consist in issuing 1.458,2 million new shares at 4,85 euros/share, which includes the nominal value of 0,5 euros plus an issue premium of 4,35 euros/share. This capital hike implies a discount of 17.75% with respect to theoretical price excluding the subscription right.

Ibex35 Treasury stock

The Ibex 35 firms boosted their treasury stock again 2016

The 29 firms listed on the Ibex 35 which published their treasury stock figures at end-2016 accounted for a total of 678.127.762 own shares, representing 0.87% of social capital, with a market value of 4.372 billion euros. Despite the fact the treasury stock figures registered at end-2016 were higher than those in December 2015, this is not the case if we add to these figures the share redemptions made by these same listed companies during the year


Telefonica's debt cutting

Telefonica Continues Cutting Debt Via O2 listing, Argentina Business Sale

Telefónica is continuing with its plans for cutting group debt – estimated at 50 billion euros – by divesting stakes in some of its subsidiaries and ruling out any major new acquisitions. On the one hand, the company is still preparing to list a minority stake in its UK mobile subsidiary O2 towards year-end, on the other they are considering to sell Telefonica Argentina.

 


Bankinter's profits increased by 7% in the first nine months of the year

What if they had all been just a little bit more like Bankinter?

Bankinter, the best Spanish bank, amazed us with its spectacular results during the crisis and continues to do so now. It’s proof that things can be done with maximum prudence, security and moderation, without being pulled along by prevailing bubbles. Bankinter was always cautious about adventures. In the years prior to the eruption of the crisis it established the bases to prevent it from being carried away by what was a catastrophe.


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

Repsol: From Trading At A Premium To Trading At A Discount

José Benito de Vega | Moody’s has lifted Repsol’s outlook from negative to stable and confirms long- term debt rating at Baa2. Analysts were expecting this upgrading after Repsol presented a new strategic plan for 2016-2020. In fact, Repsol’s stock price performance has revalued 11%, less than the Ibex, but a lot higher than the Stoxx 600 Oil & Gas (-1%).


Colonial's bid for Axiare

Colonial Joins Ibex 35 Index Ahead Of Becoming A Socimi

This coming Monday, Colonial will join the Ibex 35, meaning that Spain’s two biggest socimis will now be represented in the selective index.  The weighting of Spain’s property sector in the index will also be increased as it continues its recovery.



A transition from Banco Popular to Santander

A transition, from Popular to Santander, with a bit of a respite in between

For a few hours on June 7, Banco Popular had three owners: the previous shareholders, the FROB and Banco Santander; a quick trip, with a stop in between for a bit of a respite, before changing its skin. The Single Resolution Mechanism (SRM), in other words the ECB, decided on Tuesday that Popular was inviable and immediately started the liquidation process which begins with a bail-in.


Banco Santander

Santander Acquires Banco Popular Paying A Notional Consideration Of €1

Banco Santander today announces that it has acquired Banco Popular. The acquisition takes place following an auction conducted by the Single Resolution Board and FROB in which Santander was elected as the successful bidder, paying a notional consideration of €1. As part of the transaction Santander will complete a rights issue for a total amount of € 7 billion . This will cover the capital and provisions required to strengthen Popular’s balance sheet.


Banco Popular will meet ECB

Banco Popular’s Very Delicate Meeting With European Regulator

Banco Popular’s management team, chairman Saracho and his CEO, Sanchez Asiain, will meet with the ECB tomorrow, according the economic press. It doesn’t seem as if there is any urgency behind the meeting, but rather that it is part of a routine monitoring process, aimed at analysing the bank’s current situation and options.