Today’s market chatter: Repsol sees profits rise; Applus ready for IPO
MADRID | By Jaime Santisteban | Market makers in Spain are assessing the impact of Repsol’s rise in net income (it climber climbed 27% on year), helped by the U.S. harsh winter weather and increased production in LatAm. The oil major reported its 1Q14 results one day after closing a complicated chapter in Argentina by selling nearly all of its remaining 12% stake in YPF for more than $1 billion. Also, the Spanish Stock Exchange is starting to get traction: testing and inspection company Applus set IPO price at 14.50€ a share on Thursday, its net value based on that price being €1.88bn.