Banca March: Emmanuel Macron has announced that he will not appoint a prime minister until the end of August, once the Olympic Games are over. The French president declared that ‘until mid-August we must focus on the Olympics’. He also indicated that after that time and depending on the progress of the negotiations, it will be his responsibility to choose a prime minister and entrust him with the task of…
In addition, the European Commission has also given Spain a two-month ultimatum to transpose the directive on receivables managers and purchasers into national law. In two separate proceedings, Brussels has, on the one hand, opened a sanctioning file against Spain for failing to fully transpose the amendments to the directive on bank rescue and resolution, which relate to the prudential treatment of global systemically important institutions and the loss-absorbing and…
Endesa has closed the sale of 49.99% of a large solar portfolio of 2,000 MW of capacity to the Emirati renewables fund Masdar for €817 million, the energy company informed the National Securities Market Commission (CNMV) on Thursday. The agreement will be accompanied by a 15-year power purchase agreement (PPA), which will be managed by a firm wholly controlled by the electricity company headed by José Bogas. With the entry…
Link Securities | In an interview with Europa Press, the Vice-President of the European Central Bank (ECB), Luis de Guindos, said yesterday that the institution’s opinion on BBVA’s takeover bid for Banco Sabadell (SAB) will not be delayed for long. BBVA requested authorisation from the ECB to launch the takeover bid on 4 June and this is one of the necessary steps for the National Securities Market Commission (CNMV) to…
Link Securities | Slovak central bank governor and European Central Bank (ECB) Governing Council member Peter Kazimir said yesterday in an opinion piece reported by Bloomberg that market bets on two more rate cuts this year are not ‘completely misplaced’. However, he pointed out that they should not be taken as ‘a given or a reference scenario’. In that sense, Kazimir said that they (ECB) are on the way back…
Intermoney | Merlin Properties (Buy, PO €12) has proceeded to execute its long-awaited capital increase after yesterday’s market close. In an accelerated placement excluding admission rights, the REIT has sold almost 94 M new shares at a price of €9.8 each, which represents a discount of less than -5% compared to yesterday’s closing price. The new shares represent 20% of the existing shares as of yesterday, or 17% as of…
Repsol posted net income of €1.626 billion in the first half of 2024, up 14.5%, a period marked by the presentation and implementation of the 2024-2027 Strategic Update, which prioritizes shareholder remuneration and continuing financial strength, and consolidates the company’s multi-energy commitment. Repsol announced today a new share buyback and redemption, of 20 million shares, in addition to the 40 million shares already redeemed during the year. Since 2022, the…
Naturgy has managed to repeat in the first half of this year 2024 the record results obtained last year in a context of a sharp global decline in energy prices. The energy company obtained up to June an Ebitda of €2,846 million and a net profit of €1,043 million, both at the same level as last year. The good results up to June and the outlook for the second half…
Santander achieved an attributable profit of €6,059 million in the first half of 2024, up 16% in current euros versus the same period last year, as strong growth in net interest income in all the global businesses and regions, supported by four million more customers, and very good cost control, more than offset the expected year-on-year growth in provisions. The group continued to increase profitability and shareholder value creation, with…
Banco Sabadell: Of the stocks to be published in the next few days, we highlight Ebro Foods (published on 29/07), given the good operating performance expected together with a favourable outlook for raw materials, which should allow management to be more optimistic for the year as a whole. This should have a positive impact on the share price, especially if we take into account that the stock has been underperforming…