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Relevant News Item 30th July 2024

Merlin Properties uniquely positioned in sector: raises €921 million to finance expansion of data centres

Deutsche Bank (Thomas Rothaeusler) | The company has finally set the financing structure for its data centre expansion by raising €921 million in new equity, confirming our scenario, which reflects an increase in earnings after two years and non-recurring revenues after one year and equates to a target price of €13 per share. We view the capital increase as a very positive development, as it lays the foundations for significant…

Relevant News Item 30th July 2024

Court of Auditors goes to CJEU for amnesty law on grounds that it affects European interests

The Court of Auditors has raised a preliminary question to the Court of Justice of the European Union (CJEU) regarding the amnesty law, considering that the alleged diversion of funds for the “referendum” of October 1 and the external action of the ‘procés’, for which the former Catalan president Carles Puigdemont and 34 other people are indicted, affects the financial interests of the EU. In an order, the councilor of…

Relevant News Item 29th July 2024

Iberdrola in advanced negotiations with data centre developers for creation of joint ventures

Alphavalue/DIVACONS | As part of its 1H24 results presentation, Iberdrola (IBE) announced that it is in advanced negotiations with data centre developers for the creation of joint ventures. Although we do not know the specific details of these negotiations, it is clear that the group is looking to capture a stake in this fast-growing sector. Connecting data centres to the grid represents a real challenge for operators and can be…

Relevant News Item 29th July 2024

Repsol reduces share capital through redemption of 20 million treasury shares with a nominal value of €1

Link Securities | The Board of Directors of Repsol (REP), pursuant to the resolution approved by the General Shareholders’ Meeting held on 10 May 2024, agreed to reduce the company’s share capital by redeeming 20,000,000 treasury shares, each with a par value of €1, representing approximately 1 .70% of Repsol’s share capital at the date of this communication. In this capital reduction, Repsol will redeem the shares acquired through the…

Relevant News Item 28th July 2024

Acerinox’s net profit reaches €114m, 59% lower than in 1H2023

Link Securities | Acerinox (ACX) presented on Thursday its results for the first half of the year (1H2024), of which we highlight the following aspects: The 1H2024 results have been affected by the strike at the Acerinox Europe plant from 5 February to 21 June. Thus, ACX’s 1H2024 turnover reached €2,781 million, 21.0% lower than in the same half of the previous year.Also, ACX’s EBITDA ended June at €236 million,…

Relevant News Item 26th July 2024

Endesa sells 49.99% of its 2-GW solar portfolio to Masdar for €817 million

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…

Relevant News Item 24th July 2024

Repsol posts net income of €1.626 billion and announces new share buyback

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…

Relevant News Item 24th July 2024

Ebro Foods 2Q24 Results Preview: good operating performance and favourable raw materials outlook

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…

Relevant News Item 23rd July 2024

BBVA chooses Telefónica Tech to boost cybersecurity of global operations

Link Securities | BBVA (BBVA) has chosen Telefónica Tech (Telefónica (TEF)) to boost the cybersecurity of its operations on a global scale with the incorporation of the most advanced technologies in artificial intelligence and process automation for the prevention of cyber threats, according to the digital portal Bolsamania.com. In addition, this alliance involves the creation of a new specialised centre in Mexico, which will function as a mirror of BBVA’s…

Relevant News Item 18th July 2024

July’s ECB cheat sheet: The less I know the better

ING | The ECB is weighing sticky inflation and wages with a softening growth outlook, French political turmoil, and more dovish Fed expectations. Cutting again this week is out of the question, and giving new rate guidance is probably an undesirable path too. Once again, less is more in ECB communication, and the impact on rates and FX should be limited As discussed in our full European Central Bank preview,…

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