IBEX

Saudi Arabia’s Sovereign Wealth Fund Also Buys Shares in Repsol Amid The Crisis

The increase in WTI to $15.1/barrel and Brent to $22.22/barrel has boosted Repsol’s shares, which were trading today 2.06% higher. Despite this small respite, the Spanish oil firm has not been able to escape the latest moves of the Saudi Arabian sovereign wealth fund and is amongst the big European oil companies included in a list of stock market forays on the part of the Public Investment Fund (PIF) over the last few weeks, reported Financial Times.


Iberdrola To Supply ‘Green’ Energy To T-Mobile In The US From A 158 MW Wind Farm

Iberdrola, through its US subsidiary Avangrid, has signed a long-term ‘green’ energy power purchase agreement (‘PPA’ in English) with German telecommunications giant T-Mobile. The energy will be supplied by the Otter Creek wind farm in LaSalle County, Illinois, USA. The company has corporate clients in the US such as Nike, Amazon, Apple, Google and Facebook, amongst others.


Cellnex Accumulates A 20% Increase In Value Despite The Coronavirus

Cellnex buys 100% of Portuguese company NOS’ tower operator. The transaction involves nearly 2,000 sites, with an initial investment of around 375 million euros. But Cellnex has agreed to earmark a further 175 million euros to expand the perimeter by up to 400 more towers over a period of 6 years.


Banco Santander Announces It Will Not Meet Its Targets In Mexico

Banco Santander, the leading bank in Spain and the Eurozone, has warned of a slowdown in its business in North America. This is a region which accounts for 16% of group profits, thanks to the contribution from the United States (7%) and Mexico (9%). But the current pandemic led Santander Mexico to announce yesterday that it will not meet its 2020 targests, and that COVID19 will affect results at least until H1’21.


Banco Santander fulfills its commitment to shareholders and raises cash dividend by 3%

Santander Has €90 Bn Of Additional Credit For Families, Firms And SMEs Thanks To 2019 Second Dividend Cancellation

Banco Santander assumes that the coronavirus pandemic will force it to change its roadmap for the coming years. For the time being, the lender has announced that it will not pay a final 2019 dividend (0.13 euros/share planned for May) and suspended payment of the 2020 dividend. This is in line with the decision of the European banks which have adhered to the ECB’s recommendation.


After Covid19, The Situation Will Not Be Easy For Fossil Fuel Suppliers

Alphavalue | One might wonder why equity investors bet on being long on oil last week when the Brent was reaching new lows. In fact on Tuesday, Brent prices hit 20-year lows in the $22/barrel range. It could be one of the surprising examples of how much risk can be taken when there is talk about, or hopes for, stimulus. At that point, even the strongest fundamentals tend to be ignored.


Iberdrola's mix is "coherent" with global energy policies

Iberdrola Maintains Its Growth Objectives For 2020

At Iberdrola’s Annual General Shareholders’ Meeting last Thursday, Chairman Ignacio Galán announced that, for the time being, he expected Net Attributable Profit to grow at a “high single-digit” rate in 2020, thanks to record investments of over €10 Bn. The firm’s dividend is seen increasing in line with profits, he added. Bankinter analysts believe that Iberdrola’s expectations for 2020 may appear “somewhat optimistic, given the current context of uncertainty about the depth and duration of the Covid-19 crisis”.


Scotland Selects Ferrovial’s Subsidiary Amey To Maintain And Improve Its Roads For Eight Years

Ferrovial, through its UK services arm Amey, has been awarded an eight-year, 452.9 million euros contract to maintain and improve roads in southwest Scotland. The company said there is also an option to extend the contract for a further four years, increasing its value to 781.3 million euro.The divestment process of this subsidiary will continue despite the crisis of the coronavirus, the company said. But it recognizes that it will suffer some delays.


Aena Signs New Loans (1.075 billion euros); Achieves A Cash Position That Allows It To Cover 1 Year Of Costs

AENA has signed new loans with various financial institutions for a total of 1.075Bn euros. The loans have a maturity of between 1 and 4 years and will boost the firm’s liquidity to 2.425Bn euros (from 1.350Bn previously). AENA also has the possibility of increasing it further with the Euro Commercial Paper (ECP) programme up to 900Mn euros, of which 495Mn are still available. Furthermore, the company expects to close additional loans in the coming weeks.