Banco Sabadell| Railway manufacturer Talgo will present its first-half results on Tuesday, 30 September, which were initially due to be published on 1 August, once they had undergone a ‘limited’ review by external auditors as part of the capital increase it is planning to strengthen its balance sheet.
Banc Sabadell | Trump said on social media that, starting on 1 October, all branded or patented pharmaceutical products will be subject to a 100% tariff, unless the company has begun to build a manufacturing facility in the United States. Assessment: Negative news due to the noise it may generate. However, details remain to be finalised, as we do not know whether companies that already had a presence in the…
Bankinter | The terms of the transaction have not been made public and are currently only rumours in the press. Tecnobit is a subsidiary of Oesía and is dedicated to the development and manufacture of intelligent vision, simulation and tactical communications technology. The main figures available for Tecnobit in 2024 are: Revenue €105 million, order book €194 million, EBITDA €15 million. Bankinter analysis team’s view: Limited impact on the session,…
Link Securities | In relation to the considerations publicly expressed by one of the company’s major shareholders (TCI Fund), as well as the myriad of news items published in the media in recent weeks, regarding the possible participation of the autonomous communities in the management of airports of general interest owned by Aena (AENA), the latter recalls and emphasises that it has closely, constantly and thoroughly monitored the possible decisions…
Link Securities | On 25 September 2025, the National Securities Market Commission (CNMV) has agreed to authorise the modification of the characteristics of the voluntary takeover bid for Banco Sabadell shares made by BBVA, which was authorised by the CNMV on 5 September 2025. In accordance with the content of the registered documentation, the modification of the offer consists of an improvement in the mixed consideration offered, with a change…
Deutsche Bank | Christophe Menard: Airbus (AIR) is on track to meet its delivery targets for fiscal year 2025, with preliminary September figures reflecting the strong performance in 2018, indicating a recovery in deliveries of the A320 family. At the same time, efforts continue to consolidate European space activities into a joint venture involving Airbus, Leonardo and Thales. This initiative aims to create a European leader, improve profitability and reduce…
Bankinter | TCI, Aena’s second-largest shareholder (6% of capital) after the government (51%), demands a forceful defence of the airport management model. On the one hand, it is calling for the company to ensure proper remuneration for regulated investments for the five-year period 2027-2032, which it sees as risky. On the other hand, it is demanding that the company maintain the centralised airport management model and not hand it over…
Renta 4 | CAF has announced the planned inclusion of the company in the UN database of companies for its participation in the Jerusalem light rail project. This document includes companies that participate, directly or indirectly, in some of the activities listed in the annual report of the United Nations High Commissioner for Human Rights. It should be noted that the project, awarded in 2019 through a 50-50 joint venture…
CdM | Telefónica (TEF) continues to make progress on the Sustainable Development Goals (SDGs) it launched a decade ago and on Thursday announced that over the last ten years it has invested a total of €77 billion in the deployment of sustainable, resilient and high-quality infrastructure and services, ‘which have facilitated the inclusion of use and access, the creation of quality employment and the economic development of the societies in…
Banc Sabadell | Pertamina Hulu Energi, a subsidiary of Indonesian state-owned company Pertamina, is in final negotiations to acquire 12.5% of the Pikka project in Alaska for $1 billion (€847 million/5% capitalisation), according to press reports. Repsol (REP) owns 49% of the project, while the Santos group controls the rest. On the other hand, Reuters reports that negotiations between Aramco and Repsol for the purchase of 25% of its Renewables…