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Spanish banks 's 2Q18 results season will start on July 25th

Ibex, Markets 18th July 2018

Spanish Banks Will Present Results Amidst Concerns Of Potential Bank Tax

Spain was a well-liked region within European banks until the new government came into place. As Morgan Stanley points in a note to investors, “the negative noise around a potential bank tax and the doubts on the fiscal plans have hit the sector.” Santander will kick off the 2Q18 results season on July 25th with all the eyes on its capital position and headwinds from Latam currencies. Issues like Turkey in BBVA and TSB in Sabadell have provided more downside to some of these names.

BBVA

Ibex, Markets 14th July 2018

BBVA Will Continue To Suffer Because Of Deterioration In Turkey

Turkish President Erdogan has began to exercise his new “attributes”, recently provided by an ever more authoritarian political system, in relation to the monetary policy of the central bank by affirming informally that interest rates will be lowered. This weakened the Turkish Lira from 4.66/$ to 4.85/$ (although it layered recovered to 4.82/$). This had a negative impact on the share price of BBVA, which holds 49.85% in the Turkish bank Garantí.

Santander results: Attributable profit grows 18%

Ibex, Markets 12th July 2018

Santander To Close Real Estate Bubble Cycle In Spain Subsidiary

Santander has put on sale a portfolio, known as Apple, of €6 Bn of housing assets, and hopes to close the agreement on their transfer this month. Last summer, just after acquiring Banco Popular, Santander agreed to sell to Blackstone €30 Bn worth of housing assets originating in Popular.

iberdrolaTC

Ibex 6th July 2018

Blackrock second shareholder in Iberdrola with 5%

Blackrock, the largest fund manager in the world, has raised its holding in the electricity company to 5.008% from the 4.998%  it held, and remains the second largest shareholder behind the sovereign wealth fund Qatar Investment Authority (QIA).

Naturgy2

Ibex, Markets 2nd July 2018

Naturgy Launches Strategic Plan

Recently renamed Naturgy, Gas Natural has presented its Strategic Plan 2018-2022 to analysts in London. In this new stage, the company will carry out radical changes in its share holding and leadership.

Gas Natural becomes Naturgy

Ibex 28th June 2018

Gas Natural Will Seek Purchases And Mergers After Becoming Naturgy

The general shareholders meeting of Gas Natural yesterday approved the change of name of the company, baptized Naturgy Energy Group. The group thus relaunches itself at the moment when it wants to take part in the corporate dance taking place in the energy sector. Gas Natural is passing through an historic phase, with drastic changes among its shareholders and leadership and with the design of a strategic plan for 2022.