Last week Grifols received a negative recommendation from the global broker UBS, referring to the potential negative impact the commercialisation of a new alternative treatment for autoimmune diseases could have on its sales of intravenous immunoglobin.
Ryanair has issued a profit warning which, in reality, amounts to a warning for the entire European industry as it shows that the sector is beginning to be affected in both earnings and costs (margins) by three negative factors: increasing oil prices (aviation fuel), slowing of demand because of the slowing of the global economic cycle and the increased likelihood of strikes (greater in Ryanair´s case, but not only in their case).
According to a document given by the Spanish bank to the SEC, Brexit could result in increased financial instability and reduced economic growth, as well as increased unemployment and inflation in the UK, in addition to having adverse impacts on the bank´s business.
A few hours after the announcement that Santander (market capitalisation of 71.3 billiones euros) will have a new CEO in 2019, Andrea Orcel, BBVA the second Spanish bank by stock market capitalization (36.7 billion euros) reported that its chairman Francisco González will also leave his post at the beginning of next year. From January 1, the current CEO Carlos Torres Vila will be the new chairman of the Group.
Santander | To adopt a more optimistic view of the price, we would like to see Meliá increasing its debt exposure to the dollar and solves its profitability problems in leased assets.
Mr. Orcel is currently member of UBS Group’s executive committee and “brings a wealth of experience and expertise, having worked closely with Santander for almost two decades”, according to the financial entity.
The electricity distribution network in Portugal is going to be re-auctioned within an ambitous programme of liberalisation launched by the Government. The Portuguese electricity market, with more than 6 million connections, is a quarter that of Spain. Endesa looks to take advantage as it has 18% of the energy supply market in the country.
The Spanish financial entity BBVA has entered the Dow Jones sustainability index, which Telefonica has left. BBVA shares have accumulated losses of -23.38% so far in this exercise, weighed down by the situation in Turkey, a region which contributed 11% of the Group’s net profits in the first half of 2018.
Enagas and Reganosa, who were unable to integrate in Spain, have signed an agreement to present themelves jointly ain the tendering process for the operation and maintenance services for one of the largest Liquid Natural Gas (LNG) in the Al-Zour refinery in Kuwait.
The Spanish leader in insurance has registered a modest performance of +14% in the last two years, the weakest among the insurers analysed at Alphavalue. Since August 2017, when the hurricane season began in the US, Mapfre has not been able to keep up with the rest of the sector. In Alphavalue´s estimates, the company should benefit from a first series of three consecutive years of growth in net profits in the period 2018-20.