Markets

bbva sabadell

BBVA admits second takeover bid for Sabadell could compromise capital distribution plan

Alphavalue/DIVACONS | BBVA (BBVA) admits that a second takeover bid for Banco Sabadell (SAB) could compromise its capital distribution plan, according to Expansión. The bank notes the ‘negative impacts’ that a possible second takeover bid for Banco Sabadell, which would be financed with ‘available resources’, would have on its solvency. Meanwhile, Zurich Insurance Group (Add, Target Price CHF 635) notified the National Securities Market Commission (CNMV) that it owns 4.947%…

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Redeia nuevo

Redeia: poised for upside after EPS downgrades due to disappointing regulatory proposal; recommendation raised to Overweight

Morgan Stanley | Our analyst Arthur Sitbon changes Redeia’s recommendation to OW, seeing the shares poised for a rebound after discounting regulatory and blackout risks. He notes that its underperformance has been partly due to negative EPS revisions following a disappointing regulatory proposal, which now sets a floor for expectations, although he does not expect major changes in his base case scenario. He identifies an earnings inflection point in 2025,…