Bankinter | After the announcement on February 22 that SEPI had acquired an additional 10% of Indra’s capital, raising its holding to 28%, the government would have proposed to Telefónica and Criteria Caixa that they acquire a stake. The aim would be to form a core shareholding in the defence systems company. Moncloa would have proposed to Telefónica and Criteria Caixa that they each buy 5-10% of Indra’s capital. Neither…

Intermoney | Ferrovial (FER) (Hold, Target Price 24 euros/share) and Acciona (ANA) (Buy, Target Price 200 euros/share) have won a contract to build part of the AVE between Lorca (Murcia) and Pulpí (Almeria). The project will require an investment of 171 million euros, according to the Expansión newspaper. The work will consist in completing the 31 kilometres double track platform, as well as a tunnel, ten viaducts and 28 structures of…

Morgan Stanley | The risk premium on oil prices due to the Ukraine is unlikely to disappear. The scarcity of supply means that any little disruption fuels hikes in prices. We raise the estimate on Brent for Q2’22 to 110 dollars with a bull case of 125 dollars. The weighting on global GDP of oil consumption is increasing to 4% and was 4.5-5% during 2011-2014, when the demand for oil continued…

Link Securities | The CEO of IAG, Luis Gallego, still left the door open to reaching an agreement with Globalia for the acquisition of Air Europa. However, he also recognises that the Hidalgo family holding is negotiating with other airlines, according to Cinco Dias. He acknowledged this in a meeting with the press after IAG’s results presentation. “This is a strategic purchase for Iberia and IAG, as well as for Spain…

Intermoney | Meliá Hotels International will become one of the big hotel brands in Vietnam, thanks to a new alliance with the country’s largest domestic hotel owner Vinpearl. As a result of the agreement, the Spanish hotel group will take over management of 12 hotels and resorts in the main destinations spread throughout the country. These are already operational and will be incorporated into the portfolio during the year. With…

Renta 4 | The official period for JP Morgan to receive non-binding offers for up to 25% of the capital finished on February 7, after a book was drawn up where the perimeter of the renewable subsidiary’s assets were finalised. Two combined cycle plants with some 1.600 MW have been excluded. Repsol (REP) has 700 MW in operation in hydroelectric plants, which it inherited from Viesgo, after it bought a…