Ibex


Naturgy expects to invest 2 billion €, 70% in Spain

Naturgy Expects To Invest 2 Billion Euros, 70% In Spain

Naturgy expects to invest 2 billion euros during 2019, of which 70% will be destined for Spain: almost 1 billion euros in new renewable installations, 175 million euros for electricity networks and another 220 million euros in gas networks. This was announced by the company’s president, Francisco Reynes, during a press conference prior to the General Assembly of shareholders held in Madrid yesterday.


ACS-USA

ACS Participates In US Infrastructure Boom With 3 Billion Euros Megacontract

The Spanish constructor has won the tender for a contract the construction of tunnels and bridges on a 15km stretch of the 1-64 highway between Hampton and Norfolk in the state of Virginia. Among other things, ACS will add four additional lanes to the highway through new tunnels. It is the largest infrastructure project Virginia’s history.



Repsol

Repsol Reinforces Its Profile As A Gas Company With The Discovery In Indonesia

Repsol has made the largest discovery of gas in Indonesia in the last 18 years and one of the 10 largest in the world in the last 12 months, with a preliminary estimation of at least 2 billion cubic feet of gas in recoverable resources, the equivalent of 2 years of gas consumption in Spain and 20% of Repsol’s natural gas reserves.


Eight Spanish banks brands amongst the 500 most valued worldwide

Spanish Banks: Attractive Valuations But Fragile Trading

The Q418 results have been a negative catalyst for Spanish banks and almost all of them (with the notable exception of BBVA) have seen how the stock market advances accumulated over the course of the year have vanished to the point of returning negative.The recurrent tendencies of incomes have remained moderately positive, as happened in 2018, but, in opinion of Santander Research, net financial margins remain vulnerable.


Enagas thinking about investing a billion euros in US listed company

Enagas Thinking About Investing €1 Bn In US Listed Company

The Spanish gas system operator, Enagas, is exploring its options of buying shares in the US listed company Tallgrass Energy. According to various sources in the sector, the public company, whose main shareholder is the state through SEPI, has been working discreetly on this operation since last November. In any case, the process is at a preliminary stage, and there are others interested in the US company.


Why are the banks a problem for the Ibex?

Why Are The Banks A Problem For The Ibex?

Alex Fusté (Andbank) | There is a notable difference between US and European banks: the stock market pays 35% less for European banks. This claim is confirmed by the price/book value ratio, whose average for the 10 largest banks in the US sector is 1.24, while in Europe it falls to 0.8%. In the case of the two largest Spanish banks, Banco Santander and BBVA, the market price is even lower than the average, given that they show ratios of 0.8 and o.7 respectively.