Intermoney | Acciona Energía (Buy, PO 26 ) yesterday announced the commissioning of the Forty Mile wind farm (280MW) in Alberta (Canada), one of the ten largest wind farms in Canada and the largest facility of its kind that the company has built to date in North America. Forty Mile consists of 49 Nordex wind turbines, each with a capacity of 5.7MW and a tower height of 108 metres. According…
Aurelio Medel (5 Días) | The fall in indebtedness of companies and families can be interpreted as proof of the improvement of their financial health, also as further evidence of the low investment made in Spain, or as a warning that the restructuring of the financial sector will continue. The decline in credit activity adds to a context of a permanent increase in capital requirements, which have placed the sector…
The Minister of Economy, Trade, and Business, Carlos Cuerpo, has finally decided to elevate BBVA’s public takeover bid (OPA) for Banco Sabadell to the Council of Ministers for the integration to be examined for reasons of general interest other than competition. This is a move expected by the market. Now, a period of 30 calendar days begins for the Council of Ministers to issue its opinion on the OPA. The…
Renta4 | IAG will enter the MSCI World Index from Monday 2 June. Ryanair will also enter the index. The MSCI World Index incorporates some 1,350 medium and large companies from the world’s 23 major developed economies. IAG was part of the index until March 2019 when it was excluded following its decision to shield its shareholding from non-EU investors to protect itself from Brexit. Assessment: Positive news as the…
Banco Sabadell : According to press reports, and confirming rumours that have been appearing in the press over the last month, the National Markets and Competition Commission (CNMC) is moving forward with its decision to approve a 6.5% remuneration for electricity distribution networks and 6.4% for gas for the next six years. Assessment: As for electricity, although the news is negative, it was already known that the proposal being considered…
Alphavalue/DIVACONS | EUR/USD continues to signal investor concern over US debt, but no widespread reallocation of European assets is expected. Considering Donald Trump’s tariff threat against the EU, it would not make sense. The EU would be hit hard if tariffs of 50% were imposed.
Link Securities | Caixabank (CABK) is considering a takeover bid for Portuguese bank Novo Banco. There are other interested entities, such as the French group BPCE and the Portuguese Caixa Geral de Depósitos, as reported on Friday by elEconomista. Novo Banco was created in August 2014 after the Bank of Portugal intervened to rescue Banco Espírito Santo (BES), which at the time was one of the country’s largest and most…
Link Securities | US President Donald Trump announced on Sunday a delay in the imposition of 50 per cent trade tariffs on the European Union (EU), extending the start of the tariffs to July 9. In a statement on his social media, Trump said he had taken the decision after a telephone conversation with European Commission (EC) President Ursula Von del Leyen, who confirmed the conversation, described it as a…
Alphavalue / Divacons | The Spanish utility yesterday announced the official launch of East-West Digital, a new company dedicated to the development and commercialisation of AI-powered digital solutions for sustainability. East-West Digital will leverage innovations developed by Iberdrola Innovation Middle East, a world-leading digital solutions innovation centre developed by Iberdrola at the Qatar Science and Technology Park. The company will design, industrialise and commercialise AI-based solutions for sustainability with global…
Renta 4 | CAF has announced its intention to invest in France. Specifically, the company will invest €50 million in its factories in France over the next five years with the aim of tripling its capacity in the country. With this investment, CAF will reinforce its presence in the French market through its two plants in Reichshoffen and Bagneres-de-Bigorre. Assessment: Positive news as it fits within the company’s organic strategy…