Ibex-35 drivers: investors like Telefónica , not so keen on utilities
While the telecoms sector (mainly represented by Telefónica) is very attractive for investors, “looming pressure on returns” is clouding investor interest in the utilities.
Ibex
Inditex’s flexible model still driving growth; its momentum unlikely to fade any time soon
Spanish retailer Inditex is the largest in Europe, more than twice the size of the number 2. Kering. With over 7,000 stores and 150,000 employees globally, it continues to outpace its rivals mainly due to its flexible business model.
Abertis’ Future Still Up In The Air; It’s Between ACS And Atlantia
ACS is still looking for the financial muscle to be able to make a counter-bid for Abertis. The company has the capacity to generate cash and has a solid financial situation, but it would need the help of foreign investors to better Atlantia’s bid of 16,5 euros per share.
Brazil’s Privatisations Plan: Which Spanish Companies Would Be Interested?
Víctor Peiro (GVC Gaesco) | The emerging markets are performing well this year and so the context is favourable for revisiting the privatisation process in those countries. Brazil is set to sell off a raft of different assets, including state-owned utility Electrobrás. Several big Spanish companies could be interested in acquiring these assets.
Spain’s Energy Firms Lose €3 Bn In The Market In Just 1 Day; Accuse Government Of Driving Investors Away
Spain’s big utility companies have accused the Energy Ministry of “driving investors away” with their strategy of revealing the next milestones in the energy reform to the large investment banks. The main electricity firms (Iberdrola, Endesa, Gas Natural and REE) saw almost 3 billion euros shaved off their market capitalisation in just one day.
The Unexplained Mystery Of Inditex’s Stock Market Decline
Nobody has been able to explain, in any credible and understandable way, the reasons for Inditex’s sharp stock market decline, precisely in a year when it’s beating records in terms of sales and profits.
Iberdrola Eyes Potential M&A Deals: Innogy On The Radar
Iberdrola is sounding out possible acquisition opportunities in the European energy sector and Innogy is on its radar. According to financial sources, the Spanish firm could be interested in launching a bid for the German utility company.
Siemens Gamesa pursues the repowering of wind farms
Siemens Gamesa will increase the annual amount of energy produced at the wind farms of NextEra Energy Resources in Texas (US) by up to 25%. As a result, it will boost their profitability and efficiency, as well as extend their useful life, the company said.
Telefonica Bails Out Colombian Affiliate
Telefonica has informed the Stock Market Regulator (CNMV) that it has reached an agreement with the Colombian government to hike capital for a total of €1.840 billion at its affiliate operating in the country, which is one of the main ones in the group. The reason for the capital increase is the debt the parent company has with the company which manages the pension funds.
Betting on oil and airline stocks at the same time? Repsol, IAG good choices
Sonia Ruiz de Garibay (GVCGaesco) | Although a simultaneous investment recommendation for oil and airline stocks might seem a contradiction in terms, the fact they are both heavily influenced by oil prices gives them a very important element in common. Oil is an earning driver for the oil industry, while for the airlines sector it is an important costs’ element, accounting for over 20% of the total. Repsol and IAG are currently good bets.