European Share Buybacks In Perspective: €25 Bn/year?
European buybacks seem to be increasing by approximately 25 billion euros to a universe of 420 shares (excluding the banks) with a combined market capitalisation of 8 billion euros.
Companies
Abengoa Mulls Sale Of Remaining 16.5% Stake In Atlantica Yield; Investment Funds Could Be Interested
Abengoa is considering selling the remaining 16.5% stake it holds in Atlantica Yield and some investment funds could be interested, press reports say.
Abengoa Takes Another Step In Its Restructuring Process With The Sale Of 25% Of Atlantica Yield
Abengoa has signed a contract with Algonquin Power & Utilities Corp. (APUC), which provides public services in the renewable and regulated energy sector, for the sale of a 25% stake in Atlantica Yield for $607 million.
Ibex-35 drivers: investors like Telefónica , not so keen on utilities
While the telecoms sector (mainly represented by Telefónica) is very attractive for investors, “looming pressure on returns” is clouding investor interest in the utilities.
Betting on oil and airline stocks at the same time? Repsol, IAG good choices
Sonia Ruiz de Garibay (GVCGaesco) | Although a simultaneous investment recommendation for oil and airline stocks might seem a contradiction in terms, the fact they are both heavily influenced by oil prices gives them a very important element in common. Oil is an earning driver for the oil industry, while for the airlines sector it is an important costs’ element, accounting for over 20% of the total. Repsol and IAG are currently good bets.
The whole saga surrounding Obamacare is contributing to the European pharmaceutical firms disappointing performance
Carax Alphavalue |The European pharmaceutical sector hit record highs almost two years ago, since when it has had an overall disappointing performance. So far this year, there has been no sign of its defensive qualities, although it continues to pay attractive dividends.
Grifols Strengthens Presence In US Where It Now Generates Over 60% Of Sales
Spanish pharmaceutical and healthcare firm Grifols has obtained approval from the US Food and Drug Administration (FDA) to market the physiological saline solution which the company manufactures at its plant in Las Torres de Cotillas (Murcia). This is very positive for the group’s hospital division and, in particular, for its presence in the US.
ACS’ Order Book In Brazil Stands At €3 Billion
ACS’ subsidiary Cobra has won a contract worth 126 million euros to build various electricity transmission lines in Brazil, boosting its portfolio of these projects in that country to 3 billion euros.
Spain’s Abertis and Italy’s Atlantia could form Europe’s largest motorway operator
Italian motorway and airports operator Atlantia is considering a tie-up with Spain’s Abertis by launching a tender offer. The transaction is valued at some 15-16 billion euros, taking into account the current market value of Abertis. The offer will be made partly in cash and partly in Atlantia shares, with the end result a merger between the two companies.
Telefónica’s Share Price Has Begun To Recover With Álvarez-Pallete. Will It Last?
Telefónica’s share price has made a strong recovery so far this year and is now trading around 10,3 euros, meaning it has gained no less than 31% from last year’s minimum levels. New executive chairman Jose María Álvarez-Pallete has played a big part in this comeback.