Santander Corporate & Investment | We have revised our valuation and forecasts for Acciona (ANA) (Underweight, TP 96.00)
The French company Total has burst in to the race launched in Spain by the oil companies to offer electricity and gas services to all kinds of clients, in direct competition with the big electricity and gas companies like Endesa, Iberdrola and Naturgy.
The advances in inflation figures throughout the Eurozone will be a subject of debate in the coming weeks, not least because of its bigger-than-expected rise. An increase which has a common thread in the form of hikes in energy prices and, to a lesser extent, in food prices.
By Juan Pedro Marín Arrese, in Madrid | Year after year, electricity prices have been reined back below recognised costs, building up a deficit running…