Pharmamar confirms Positive Results For Aplidin To Combat Coronavirus

PharmaMar’s shares were trading slightly lower, down 0.20%, at midday today. However that is following a rebound of 33% on Friday, making it the best performing stock on the Spanish stock market. This was after the company announced positive results from studies on Aplidin to combat the coronavirus. As a result, it will ask for tests to be carried out on infected patients.

Iberdrola Buys Ailes Marines, The Company Developing French Saint-Brieuc Offshore Wind Farm

Iberdrola has increased its ambition in the offshore wind industry, following the conclusion of an agreement to take 100% ownership of Ailes Marines. The company, which previously owned 70% of the consortium’s capital, has acquired the remaining 30% from Avel Vor. With a global 12.4 GW offshore wind project pipeline, Iberdrola currently operates three offshore wind farms: West of Duddon Sands (389 MW), Wikinger (350 MW) and the 714-MW East Anglia ONE (to be fully commissioned in 2020).

Flybe Bankruptcy Penalizes Ferrovial’s Regional Airports

The drop in demand for travel driven by fear of the coronavirus resulted last week in the first corporate bankruptcy, namely British airline Flybe. The firm was already in serious financial trouble after Brexit and rivalry with other companies in the sector. Amongst the victims of Flybe’s bankruptcy is Spanish group Ferrovial. Through a joint venture with the Australian financial group Macquarie, it controls some of the airports used by the airline.

The coronavirus threatens Stoxx600; index could drop by -15%

Uncertainty Pushes Rates To Unknown Limits

Financial markets remain volatile with the concerns about the virus spillover effect being the main market driver. After yesterday’s equity rebound, declines in the equity markets have resumed today, with market risk measures such as VIX soaring to 37, although moderated afterwards but remains above 30.

Acciona Refocuses Its Commitment To Renewables With An Ambitious Investment Plan

With an investment of 4 billion euros, Acciona plans to build renewable energy facilities in the next five years which will generate a combined total capacity of about 5 gigawatts (GW). These new allocations will be added to the portfolio of 10,117 megawatts (MW) which the Spanish group has installed and in operation, with 56% in Spain and the remaining 44% abroad. This has already made it one of the main global players in the sector.