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.
Ibex
Santander Designated Bank Of The Year In Spain, Western Europe And The Americas
Banco Santander has been named Bank of the Year in Western Europe, the Americas, Spain, Portugal, Argentina and Chile by The Banker magazine. The Banker recognized the bank’s “peerless commitment to an enhanced customer experience”, its pursuit of operational efficiency and its development of new digital, global trade and global merchant services.
Iberdrola Merges Offshore Wind Farms In the UK Into A Mega Project Of €7,600 M
Iberdrola will promote via its subsidiary Scottish Power Renewables a marine wind mega-project, called East Anglia Hub, which will add an installed capacity of 3,100 MW and involve an approximate investment of 6,500 million pounds (more than 7,600 million euros). The three projects will be procured together to leverage their scale with a continuous installation programme.
Grifols: 35% revaluation in 2019 Vs IBEX35 9%
José Benito de Vega | Grifols has had a very positive stock market performance in 2019, with a 35% revaluation compared to 9% of the IBEX35. The positive evolution of its results, its powerful cash flow generation and debt reduction, together with its potential growth thanks to a treatment for Alzheimer’s that is under study, explain the good behavior of the stock.
MasMovil does not need a strong investment in 5G
The broadband market continues to grow in Spain: 31% penetration in Spain vs. 42% on average in other European countries, analysts at Morgan Stanley point out.
Cellnex will wait at least 12 months before increasing capital
The firm reported revenues up 13% and EBITDA up 13% in first nine months of 2019.
IAG cash outflows in 2020/23 are now lower, underpinning cash generation
Banc Sabadell | IAG’s Capital Markets Day focused on cash generation. The reduction of some operational objectives (AKO’s 2020/23 growth from + 6% to + 3.4% per year; annual BPA growth from + 12% to + 10%), is in line with market forecasts and BS (e) .
Iberdrola has a global installed capacity of 30,900MW at the end of September
Banca March | The Spanish utility prepares its launching in Australia with a portfolio of renewable projects for 650 MW in the states of Queensland and South Australia, with an estimated market investment of approx. € 500M.
Acciona boosts renewable investments: 500MW in 2019, 1,110 MW in 2020-21
Bankinter | The main challenge of the group is the restructuring of Nordex. The market interprets this acquisition as a defensive movement to protect its investment in the turbine producer. A waiting period is now open to see if you are able to recover profitability with this injection of Acciona funds. This greater uncertainty could slow down the evolution of the stock.
Santander profits fall -35% (3.732 Bn€) for Brexit provisioning and restructuring
Santander bank secured a net profit of 3.732 Bn€ in the first nine months of the year, 35% less than a year before, after making provisions of 2.448 Bn€, mainly because of the adjustment to the goodwill in the UK due to Brexit.