According to a report by the Study Services of BME on the ownership of shares, foreign investor participation on Spain’s stock market reached 46% at the close of 2017, the highest level in the historical series, with an increase of 3% over the course of the year, 9% in the decade, and 16% since 1992.
According to data provided to the regulator (CNMV) by the company, Repsol´s oil production amounted 691,000 barrels per day in the third quarter of the year, a reduction of 4.3% compared to the previous quarter and practically in line with the 693,000 barrels per day of the same quarter last year.
For the first time in its history AENA has published its strategic plan and set out its forecasts for its results for the next two years. In the plan, three pillars mark the direction of the group in this period: commercial income, construction and foreign growth.
Acerinox recently celebrated its Capital Markets Day, in which it confirmed its strategy based geographical diversification of its plants (distributed over 4 continents), a policy of differential investment, the control of costs and strengthening its balance sheet, with a special stress on the generation of cash. Its exposure to the US, where the fundamentals remain solid, amounts to around 45% of its sales.
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.