Liberbank’s shares fell as much as 30% during Friday’s stock market session and the CNMV has today forbidden short-selling in the stock for a monthy. But there is concern that Liberbank could suffer the same fate as Banco Popular.
SPANISH SMALL & MID CAPS
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.
ACS’ renewable energy subsidiary, Saeta Yield, plans to increase its dividend by 1% to 0,76 euros per share in 2017 compared with a year earlier. This is mainly due to the firm’s strong recurrent cash flow generation.
Tubacex has clocked up an order book worth 700 million euros in high tech tubular solutions for the gas and oil extraction, petrochemical and energy generation sectors. This figure is a record for the company. A contract in Iran represents about two-thirds of the existing premium product backlog or 560 million euros.
The Energy Ministry this week held its macro-auction to award installation licences for up to 3.000 MW of renewables plants in Spain. The auction represents an investment of over 3 billion euros and Forestalia, Gas Natural and Endesa ended up with the majority of the MW.
Spanish automotives parts’ manufacturer Gestamp will make its stock market listing on April 7. The preliminary price range is 5,60-6,70 euros, which values the company at 3.540 billion euros at the middle range. The operation will be positive for the Spanish bourse, where there are not a lot of industrial companies.
Fernando Rodríguez |Bankia’s stock market gains after the news that it will takeover BMN exceeded market consesus. But the future of Bankia’s stock price in the short-term will depend on the small print and the ratios of the merger.
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.
In 2016, Merlin Properties posted a record profit of 582.6 million euros, almost 12 times more than in 2015. Rental income corresponding to just the fourth quarter rose to 121.5 million euros from 74.9 million in the third quarter thanks to the integration of Metrovacesa’s assets from end-October.
Prosegur plans to list up to 40% of its Prosegur Cash affiliate via a share sale exclusively for qualified investors. Prosegur Cash is the group’s main cash flow generator, contributing over 90% of results. It plans to earmark 50-60% of earnings for dividends.