Relevant News Item

Companies, Ibex, Relevant News Item 14th August 2024

L.A. law firm files class action lawsuit against Grifols based on allegations about accounts

Alphavalue/DIVACONS | A Los Angeles law firm, The Schall Law Firm, filed a class action lawsuit against the Catalan company on Tuesday, based on allegations made earlier this year by Gotham City about its accounts. This comes at a time when Grifols is debating a possible takeover bid being prepared by the Grifols family in conjunction with Canadian fund Brookfield. Grifols shares dropped -5.38% yesterday. Grifols: Buy, Target Price €19.9/share.

Companies, Ibex, Relevant News Item 14th August 2024

Interior Ministry awards Telefónica two contracts for almost €138 million to provide services to General Directorate of Police

Link Securities | The Ministry of the Interior has awarded Telefónica (TEF) two of the three lots of the public contract for the provision of telecommunications services for the Directorate General of Police for almost €138 million, according to the newspaper Expansión. Specifically, Telefónica has been awarded the lot relating to unified communications for the National Police for €112.49 million and the part of the contract relating to information and…

Companies, Ibex, Relevant News Item 13th August 2024

Aena airports in Spain register 31.9 million passengers in July, up 7%

CdM | Aena’s airports in Spain registered more than 31.9 million passengers in July, which is an all-time record for the month. The figure is 7.2% higher than in July last year, according to data provided by the company. Specifically, the seventh month of 2024 closed with 31,900,662 passengers in the airports of the Aena network in our country. Of these, 31,828,032 were commercial passengers: 22,241,650 travelled on international flights,…

Companies, Ibex, Relevant News Item 13th August 2024

BBVA acknowledges that not completing merger with Sabadell would jeopardise €850m cost savings target

Link Securities | BBVA (BBVA) has acknowledged to the National Securities Market Commission (CNMV) that if it successfully carries out the takeover bid for Banco Sabadell (SAB), but cannot complete the merger, it would find it difficult to meet its target cost savings of €850 million over three years, as reported yesterday by the digital portal Invertia.com. In any case, it believes that in this scenario it could materialise “most…

Companies, Ibex, Relevant News Item 13th August 2024

ACS selected to build Atlanta Airport Automated Transit Network Project

Link Securities | ACS (ACS), through ACS Infra (Iridium) and Flatiron-Dragados announced that it has been selected by the Atlanta Airport Community Improvement Districts (AACID) to design, build, finance, operate and maintain the Automated Transit Network (ATN) Project that will improve connections at the world’s busiest airport. No financial details of the contract have been disclosed, according to Cinco Días newspaper on Monday. This pilot project extends approximately 800 metres…

In the World, Markets, Relevant News Item, World economy 9th August 2024

Latest US employment data confirms business cycle divergence with Europe

Renta 4 : European stock markets open moderately higher (Eurostoxx futures +0.3%) after positive US closes, in a session where the S&P 500 posted its best daily performance since November 2022. Yesterday’s better than expected initial jobless claims in the US (233,000 4-week low) helped to alleviate some fears about the US labour market. This helped equity markets, and we also saw a steepening in fixed income, with the US…

Companies, Relevant News Item 9th August 2024

Despite short-term hurdles, Airbus’ medium-term growth outlook remains attractive: Overweight

Morgan Stanley | Following a road show with the company’s management team in NY, Ross Law (analyst) reiterates his investment thesis: despite near-term headwinds, he believes the medium-term growth outlook remains attractive (5Y EPS of €23-28 and a mid-teens FCF CAGR). As such, with the stock trading near cycle lows (9x MSe FY3 EV/EBIT) Ross reiterates Overweight (OW). More specifically, the analyst highlights that: a) engine supply has not fully…

In the World, Relevant News Item, World economy 8th August 2024

Bank of Japan says no rate hikes as long as markets are unstable

Bankinter | The Bank of Japan says it will not raise rates while markets are unstable. Bank of Japan Governor Shinichi Uchida stated that interest rates will remain at current levels for as long as market volatility persists. He also suggested that the BOJ will carefully consider financial market conditions before making future rate decisions. Bankinter’s research team’s view: Uchida’s dovish message has helped calm markets. The shift towards a…

In the World, Relevant News Item, World economy 8th August 2024

EU and Mercosur closer to trade deal that could save more than €4 billion a year in tariffs

BancaMarch | The European Union and the five South American countries that make up Mercosur – Argentina, Brazil, Uruguay, Paraguay and Bolivia – are moving closer on the most sensitive issues and aim to conclude a trade agreement before the end of the year. The agreement would create a market of 780 million people and, according to the European Commission, would save the EU bloc’s companies more than €4 billion…

In Spain, Relevant News Item, Spanish economy 7th August 2024

Spain’s services PMI stands at 53.9, maintains growth but at slowest pace since January

Link Securities | S&P Global’s services PMI for Spain declined in July to 53.9, down from 56.8 in June, and also lower than the consensus forecast of 56.0. Thus, the reading assumes sustained growth in the Spanish services sector, but at its slowest rate of improvement since last January, due to a slowdown in new orders and output growth. Meanwhile, new export business grew solidly once again, maintaining a rate…

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