Neoenergia’s shareholders (Banco de Brasil, Previ and Iberdrola) have reached an agreement for Neoenergia to incorporate Elektro’s business and activity. This operation was on the cards and will be very positive for Iberdrola and its stock price
The National Copper Corporation of Chile (Codelco), the main global supplier of copper, has chosen Abengoa to develop the electromechanical installation of the El Teniente mine, the biggest underground copper mine in the world.
For a few hours on June 7, Banco Popular had three owners: the previous shareholders, the FROB and Banco Santander; a quick trip, with a stop in between for a bit of a respite, before changing its skin. The Single Resolution Mechanism (SRM), in other words the ECB, decided on Tuesday that Popular was inviable and immediately started the liquidation process which begins with a bail-in.
Banco Santander today announces that it has acquired Banco Popular. The acquisition takes place following an auction conducted by the Single Resolution Board and FROB in which Santander was elected as the successful bidder, paying a notional consideration of €1. As part of the transaction Santander will complete a rights issue for a total amount of € 7 billion . This will cover the capital and provisions required to strengthen Popular’s balance sheet.
The airline industry will register net profit of $31.4 billion in 2017 (5.3% more than forecast in December) and revenues of $743 billion (0.9% more than the December estimate).
The FAANG, an acronym for Facebook, Apple, Amazon, Netflix and Google, are the five companies really moving the US market. As a matter of fact, it is entirely dominated by Apple. And this firm’s expectations are what drives its share price.
Banco Popular’s management team, chairman Saracho and his CEO, Sanchez Asiain, will meet with the ECB tomorrow, according the economic press. It doesn’t seem as if there is any urgency behind the meeting, but rather that it is part of a routine monitoring process, aimed at analysing the bank’s current situation and options.
Fernando Rodríguez | The Spanish equity market is benefitting from the idea that Spain is one of the eurozone countries which is going to do better. And then there is the effect of low oil prices, which is doubly beneficial for Spain compared with Germany or France.
The CEO of Acerinox reiterated current week the risks which the European steel sector has been highlighting for years, given that the arrival of steel from China is detrimental to their interests. He said he expects the company’s 2017 results to be significantly higher than those of 2016, driven by the recovery in prices and in demand.
The CEO of Italgas Paolo Gallo has said it is interested in acquiring Gas Natural’s distribution business in Italy. This operation would reflect the consolidation trend expected in the Italian gas market, allowing Italgas to raise its domestic market to 40% from the current 30%.