Ibex 35 Financial Markets

Ibex

Ibex 28th July 2025

Airlines and airports: rising despite uncertainty; IAG and Ferrovial, preferences in both sectors

Deutsche Bank | Since the publication of our latest transport leading indicators on 27 June, airlines (up 4%) and airport and infrastructure companies (up 2%) have slightly outperformed the market average (STOXX 600 +1%), despite higher oil prices (jet fuel rose 8% to $762/mt), continued uncertainty over tariffs and geopolitics, and some mediocre PMI data. Two of the French names we cover have been the most profitable within their subsectors,…

Companies, Ibex 24th July 2025

Rental income from Inmobiliaria Colonial’s French subsidiary rises to €123 million; Colonial’s rental income could reach €197 million, up 3%

Intermoney | SFL, the French subsidiary of Inmobiliaria Colonial (COL) (Buy, Target Price €8.5/share), reported its H1 2025 figures on Wednesday after the market closed. Rental income rose by 1% in equivalent terms to €123 million, in line with Intermoney’s expectations for Colonial. Compared to the figure reported a year ago, rental income fell by 3% due to asset sales. The 1% growth is divided between a 5% decline due…

Companies, Ibex 22nd July 2025

Laboratorios Rovi’s gross margin could reach 63% thanks to lower raw material costs and higher sales of Okedi

Renta 4 | Laboratorios Rovi (ROVI) will publish its Q2 2025 results on Thursday 24 July at 10 a.m. We expect some improvement on the figures recorded in the previous quarter, although it is true that the year-on-year comparison in this second quarter is much more challenging, and in this regard, Rovi will present figures that, at first glance, appear worse. Thus, we expect Rovi to report revenues of €160…

Companies, Ibex 22nd July 2025

BBVA delays presentation of takeover bid for Banco Sabadell until September

Renta 4 | BBVA (BBVA) has confirmed that the acceptance period will begin in early September. The aim is for the prospectus to include both the results for the first half of 2025 and those of the Extraordinary General Shareholders’ Meeting of Banco Sabadell (SAB), where the sale of TSB and the distribution of the extraordinary dividend of €0.5 per share will be submitted for approval. Assessment: This decision avoids…

Companies, Ibex 22nd July 2025

Puig chairman not ruling out share buyback to boost stock market value

Link Securities | As explained on Monday by Marc Puig, president and CEO of fragrance company Puig Brands (PUIG), in an interview with Bloomberg, Puig does not rule out a share buyback to boost its stock market value. ‘Over time, we will consider whether it is appropriate to take measures to help investors who have invested in the shares to obtain the value they believe they deserve,’ said Marc Puig,…

Ibex, In Spain 2nd January 2025

Santander receives €23.6m from Google, first payments under contract signed two years ago

Alphavalue / Divacons | The Cantabrian bank has already received $25 million (€23.6 million) as the first payments for the contract signed two years ago with Google. The bank granted the US multinational the licence for Gravity, a technology that Santander developed for its own transformation and which Google will now also market to its large corporate clients. Gravity Framework, whose intellectual property belongs to Santander, is software that makes…

Companies, European economy, Ibex 20th September 2024

Iberdrola inaugurates Saint-Brieuc wind farm, one of first two in France

Link Securities | Iberdrola (IBE) has inaugurated on Thursday in Brittany the Saint-Brieuc wind farm in France, one of the first two in the country, with 496 MW of capacity and an annual production of 2 million megawatt hours (MWh), as reported on Thursday by Bolsamania.com. This will provide safe, indigenous and emission-free energy to nearly one million people. With an investment of €2.4 billion, the project began to be…

Companies, Ibex 27th August 2024

Caixabank now has 24 mobile branches

Link | CAIXBANK (CABK) has extended the service it provides with its mobile branches in 1H24 to guarantee financial inclusion to a total of 804 towns and cities, which is 27% more than the number of locations served by the financial institution’s mobile branches in the first six months of last year. CABK thus provides financial coverage with its mobile branches in towns where 340,000 people live, who, whether or…

Companies, Ibex 27th August 2024

Arcelor and Acerinox: attractive valuations versus historical averages

Morgan Stanley | STEEL Alain Gabriel publishes today a recap presentation with the main figures and trends in European steel. His main OWs remain Arcelor and voestalpine (the latter he upgraded to OW last week) and Acerinox and Outokumpu in stainless steel. STEEL Arcelor- trades at a steep discount to its cyclical low multiple with normalised earnings and offers an interesting risk-return 12 months ahead. The new ebitda calculation perimeter,…

Companies, Ibex 26th August 2024

Texas Department of Transportation buys back SH-288 toll road from Abertis and ACS

Santander | In a significant event, Abertis (BBB- e, BBB e) has announced that the Texas Department of Transportation (TxDOT) has decided to proceed with the repurchase of the SH-288 toll road in Texas, which has been owned by ACS Group and Abertis since November 2020. TxDOT will make a payment of $1.732bn, of which $520mn will be used to repay debt associated with the project, while Abertis will receive…

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