Fernando Rodríguez | In just three years real estate firm Colonial moved from being on the brink of bankruptcy to the preferred stock to capitalize the announced and definitive recovery of the property sector. After joining the Ibex35 and changing into a Socimi, the company’s appeal to investors has increased.
The construction company is studying a possible counter-bid for Abertis in order to improve Italian Atlantia’s offer price of 16.5 euros, but no decission has been made yet even though the Spanish Securities and Exchange Commission CNMV has already been notified.
The metal industry is not performing well on the stock exchange in current year due to lower expectations about the US infrastructures investment plan and fears of contraction in China’s growth. Specifically, Acerinox has dropped around 14% in the last three months, while in the whole year lost near 5%. Analysts have been supporting the company with a recomendation of “hold” and buy”, but Citi has broken the tendency by downgrading to “sell” and cutting target price to €10.50 from previous €14.
Iberdrola is preparing itself to enter the Italian electricity trading market before current year ends, in which the company will offer its own tariffs in the distribution segment. They will compete with operators such as Enel, Eni and Edison and expect to reach a market share of 5%-7% in next six years, namely a million of customers in 2020 and three millions in 2023. Iberdrola is not considering any acquisitions in order to carry out this strategic move.
Starting tomorrow, Iberia and Vueling, both owned by IAG, will coordinate their schedules to allow passengers the option to choose among 26 daily frequencies in each direction (16 Iberia and 10 Vueling) against 18 daily connections of the railway operator Renfe, all taking a less-than-3-hour-travel time.
On Wednesday, Banco Santander completed a senior non-preferred debt issue for a total of 800 million Australian dollars (534 million euros). This is the first debt issue to be executed in Australian dollars by a Spanish bank.
Acciona has obtained one of the biggest rail contracts currently underway in Australia, namely the upgrade of a line to boost the service in Melbourne worth 518 million Australian dollars (around 350 million euros). It sees 100 billion euros of infrastructure development opportunities in Australia and New Zealand in the next 10 years.
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
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.