Will MasMovil join the Ibex 35?

Renta 4 portfolio: MasMovil IN; Telefonica OUT

Renta 4 | We made a change in the Portfolio letting Telefónica (TEF) go, and MásMóvil (MAS) in, since the second has a much higher revaluation potential supported by its greater growth, double digit in revenue and expanding its operating margins, estimating that it will continue to be the operator with the highest share in the coming years.

Inditex's flexible model

Inditex: less promotional than 2018

BOfAML | We see a lower percentage of SKUs on discount in November compared to November 2018, which reflects a less aggressive discounting strategy by Zara in 2019, in our view.

pallete telefonica

Telefonica will focus on its 4 key markets

Spanish group Telefónica (TEF) announced an action plan focused on five points: (i) focus investments and growth in Spain, Brazil, the United Kingdom and Germany; (ii) creation of Telefónica Tech; (iii) creation of Telefónica Infra; (iv) operational spin-off of Latin America (Latam ex Brasil) and (v) redefinition of the corporate center. This leads to a reorganization of the current Executive Committee.

shanghai raas

Grifols obtains authorizations for the alliance with Shanghai RAAS

Renta 4 | The Spanish firm has reportedly obtained the necessary authorizations from the United States (Sept. 30) and China (Nov. 13) to conclude the sale of assets between Grifols (GRF) and Shanghai RAAS (Chinese pharmaceutical company), which is expected to conclude before the end of the year.