Intermoney | According to today’s Cinco Dias, Acciona (Buy, TP 245 euros/share) has decided to lend 286 million euros to Nordex, its German wind turbine manufacturer subsidiary. The reason for the loan is so that Nordex can repay the green bond for a similar amount which matures next February. This instrument was issued in 2018, with a 5-year maturity and a coupon of 6.5%. The newspaper reports that at the…
Link Securities | According to figures made available to Europa Press by the company, the airlines in AENA’s airport network expect to have operated 24.835 flights over this August long-weekend. This represents just 5.5% less than in the same period of 2019, the year before the start of the pandemic. Saturday was seen as the day with the biggest number of operations, with a total of 6.311 flights scheduled, followed…
Link Securities | Siemens Gamesa said in a statement that it has finalised a new agreement with Acen Corporation for the supply of 14 SG 5.0-145 turbine units to the Philippines. The deal comes in the wake of the first renewable energies’ auction in that country. This order comes after the same client last year signed up for the country’s biggest wind energy project, the 160 MW wind farm Pagudpud…
Morgan Stanley |The climate legislation in the US is improving the profitability outlook for investments in clean energy, since countries are competing for capital and accelerating the new energy ambitions in the wake of the global energy crisis. Previously, the US was the top destination for capital. However, the gas crisis in Europe has changed the preference for assignation of capital of those companies in our coverage: a: 1) Europe,…
Intermoney | Ferrovial (Hold, Target Price 24 euros/share) would be considering selling its 25% stake in Heathrow, where it has been present since 2006, according to various media outlets on Tuesday. These same sources say that one of the interested parties in this stake would be the fund Ardian, who would join forces with the Saudi firm PIF. Currently, in addition to Ferrovial, Heathrow’s shareholders are QIA (20%), the Canadian…
Intermoney | Sacyr (Buy, Target Price 3,4 euros/share) has won the concession to improve and finish a dual carriageway running between the Colombian municipalities of Buga and Buenaventura, according to the daily Cinco Dias. The investment will be 900 million euros. The length of the new stretch of road is 128 km, and it will be complemented with other works and maintenance jobs on other roads, for a total of 244…
Intermoney | Last week, Iberia (IAG) and Viva Aerobus announced a code-sharing agreement for passengers travelling between Mexico and Spain. On the one hand, Iberia’s passengers who use the Madrid-Ciudad de México route will be able to take advantage of the network which Via Aerobus offers from that city. Meanwhile, on the other hand, those passengers who want to transfer to Madrid via Iberia will be able to connect with…
Intermoney | Colonial (Hold, Target Price 9,5 euros) celebrated its Capital Markets Day (CMD) in Paris on Monday. The socimi confirmed its main strategic points, such as focus on its three markets, maintaining a stable financial structure, asset rotation policy and reinforcing ESG policy. In the face of doubts from some investors, Colonial confirmed the high occupancy levels in its portfolio in service, and in the one where it will be…
Link Securities | The daily elEconomista.es made echo on Monday of a risk report Grifols presented to the US regulator SEC. In the document, the Spanish multinational pharmaceutical company admitted the recovery could be threatened by the pressure from a competition which has increasingly more resources and already offers solutions similar to those of the listed Catalan firm. Grifols warns in the report that its rivals are tough: “Our main competitors…
Morgan Stanley | Enagas will present its strategic plan 2022-2030 this week. We are not very positive ahead of this presentation as we expect the company will flag the potential growth in hydrogen. This is something which we believe is very long-term and seems already to be reflected in the price at 20 euros/share. Meanwhile the visibility with regard to financing is very limited. In the most optimistic scenario the…