Upside potential for Telefonica of 12.7%, below the rest of the telcos
Alphavalue | Between May 2017 and September 2018, Telefónica´s stock price has fallen -37.5% before recovering +20% in the last three months.
Ibex
Iberia And Vueling Might Be Unable To Fly In Spain If There Is A No Deal Brexit
After the presentation yesterday by the EC of a new battery of contingency plans for specific industry sectors in the case of a no deal Brexit, IAG´s airlines which comprise Spanish Iberia and Vueling, will not be allowed to operate domestic flights within the EU, nor connections with stop-overs in Europe.
Sabadell Sells 80% Of Solvia: Capital Gain Of 138 M€
Banco Sabadell has reached an agreement to sell 80% of the capital of its property platform Solvia to Lindorff Holding Spain, a Swedish company belonging to Intrum Group. Solvia has been valued at a total of 300 million euros.
The supermarket chain DIA falling apart
The bad spell began in the middle of October with a profit warning for 2018 and has finished this week with the announcement of its exit from the Ibex35 at the end of the month. Between one event and the other, the company has suspended its dividend for 2019, has reorganised its leadership team, has been downgraded by Moody´s and S&P and has considered closing unprofitable stores in Spain.
Santander Can Return To Venezuela Through Julius Baer
The market is speculating that Banco Santander could return to business in Venezuela through the assets of Julius Baer. The Spanish bank has not operated in Venezuela since it sold its shares in Bank of Venezuela to the country’s government for 1.050 billion euros.
Iberdrola Adjusts The Sale Price Of Scottish Power To Drax To Share Risks And Adapt To European Justice
The Spanish utility agreed to modify the initial agreement to sell part of the electricity power stations of its subsidiary Scottish Power to Drax Group. This firm sought to renegotiate the contract following an European Court of Justice ruling that declared illegal the payments to some UK stations to guarantee the capacity of electricity generation in the country.
Naturgy Will Be Able To Undo The Provisions For Hyperinflation And Devaluation Of The Peso
Naturgy has reached agreement with Argentina to recover 120 million euros. The company has been suffering significant damage to its accounts from the hyperinflation and the devaluation of the Argentine peso this year.
Grifols Negotiates To Take Control Of Leader In Blood Products In China
The Spanish blood products company could invest 5 bn$ in the Chinese pharmaceutical company Shanghai RAAS Blood Products, leader in China, which specialises in the investigation, production and sales of plasma products. The operation would be formalised in Q219. Grifols would reinforce its position in China and would reduce its dependence on the US.
Repsol Reinforces Its Exploration Position In Alaska With 12 Blocks
Repsol has secured 12 new blocks in an area near to Pikka, the largest on-land oil discovery in the US in the last 30 years. The oil company has secured mining domination in a zone situated south of the River Colville (Alaska, US), where ConocoPhillips has also made significant discoveries. Repsol´s partner Oil Search has also secured four leasing contracts.
Geographical Exposure Of BBVA: Mexico And Turkey Make Up 51% Of Profits
BBVA is a well-managed bank, but with a geographical exposure that is currently very negative. The financial entity’s shares have risen in a roller coast since the new President of Brazil, Andrés Manuel López Obrador, announced and then retracted his party’s plan to limit bank commissions.