One of the benefits of the Talisman acquisition for Repsol has been precisely the reduction of geopolitical risk in its Upstream business, given that the lion’s share of its Downstream activity is carried out in Europe.
Repsol and its partner Armstrong Energy have made the biggest conventional discovery of hydrocarbons in the last 30 years on US territory. The total amount is approximately 1.2 million barrels of light recoverable oil, a figure which is equivalent to four years of consumption in Spain.
Once again Mario Draghi followed the expected script: it kept interest rates at 0%, where they have been for the last year; it left the deposit facility unchanged at -0.4% and did not modify the debt purchasing programme.
Iberdrola has warned of the risk Donald Trump’s administration poses to renewables’ growth plans in the US. Iberdrola says Trump could freeze or eliminate the CPP (Clean Power Plan) designed by Obama. This envisaged investments of $8.5 billion a year until 2030. But for now, these changes in US policy have not altered Iberdrola’s growth outlook.
Popular’s share price is very volatile and is up around 8% from its year lows, amid rumours that the only option for the troubled bank is to merge with another bigger lender.
After the restructuring Santander carried out in Spain in 2016, the bank could be planning to improve efficiency in other countries, including Germany. Although the project is in an initial phase, it would obtain cost savings of about 15%.
Fernando Rodríguez At the end of this month, OHL will present its Strategic Plan 2017-2030 after terminating 2016 with losses of 432,3 million euros, three risk rating downgrades from Moody’s, its exit from the Ibex-35 index and its share price taking a nosedive.
The deadlines for the merger of Bankia and BMN will be accelerated once it has been confirmed there is no interest on the part of other investors. The tie-up is expected to be completed after the summer and will be the starting gun for the next round of sector consolidation.
Catalan lender Sabadell has sold its subsidiary Sabadell United Bank (Sabadell United) to US lender Iberiabank Corporation (IBKC) for a total price of 1.025 billion dollars (967 million euros).
Be passive! That seems to be the key for successfully investing these days. Put your money in an ETF that targets a basket of stocks, or, even better, into an indexed fund and forget about the rest. It is a market trend that has been blessed by no other than Warren Buffet. In his last encyclical (otherwise known as, simply, Berkshire’s letter to shareholders), the Oracle of Omaha tells his flock