Santander buys back 50% of AM unit
Santander has reached an agreement with Warburg Pincus and General Atlantic to buy back the 50% of its asset management arm it sold to the private equity firms in 2013.
Ibex
Gas Natural rules out negative impact from Electricaribe intervention
On Tuesday, the Colombian government ordered an intervention in Electricaribe because there was a risk the company could discontinue its services. Electricaribe is an electricity distributor with 2.5 million clients on Colombia’s Caribbean Coast. Gas Natural owns 85%, while the remaining stake is in state hands.
What’s Behind The Sharp Drop In Indra’s Price?
The Spanish market’s attention was firmly on technology company Indra on Tuesday when it’s share price plummeted 12%. One reason for the slump was its nine months to September results, which hugely disappointed analysts and investors.
Iberdrola’s Business In The US, Mexico Should Not Be Affected By Trump Win
Spanish power company Iberdrola is involved in the electricity and gas generation and distribution businesses in the US. It also has 5.504MW of installed capacity in Mexico, mainly in combined gas cycles. This is one of the pillars of future growth for Iberdrola as it is constructing 4.000 MW to reach a 2020 target of 10.000 MW of installed capacity.
Can Repsol Be “Small & Beautiful?
Carax-Alphavalue | Amongst integrated oil companies, Repsol (Add, Spain) is one of the smallest with a €19bn market cap despite its latest acquisition (Talisman) doubling its size (production seen at 725kbpd by 2020 from 355kbpd in 2014).
Telefonica Holds Up Well In The Stock Market After Dividend Cut
Telefonica’s stock price held up much better than expected after the multinational announced it will cut its dividend this year and next. The shares finally closed down 1% after falling as much as 4% in the first few hours of the session. It seems that investors have understood that, on the one hand, it is the company’s best option for reducing debt; and, on the other, that the dividend yield is still very attractive.
Ana Is No Miracle Worker
The first thing that should be said about Ana Botin is that only a few weeks after taking over the reins of Santander in September 2014, she left no-one in doubt that she planned to put that house in order and take the bank’s problems seriously. After a wave of restructuring, including lay-offs and bank closures, things have turned nasty again for Santander in the first half of this year, with Brexit and Brazil key complications.
Santander Earns €4.61 Bn until September, 22.5% Less Than In The Same Period Of 2015
Banco Santander has delivered €4.606 BN in attributable profits for the first nine months of 2016, down 22.5% from the same period in 2015 due to the impact of extraordinary items announced in Q2 of this year and Q2 of 2015. Excluding extraordinary items and exchange rate movements, profits grew by 8% year on year to €4.975 BN.
Gas Natural: Cash-Flow Will Support Capex And Dividend Without Need To Hike Debt
José Benito de Vega | Gas Natural’s shares have been volatile in the last few months due to results which were worse than analysts’ consensus, coupled with a strategic plan which disappointed the market. But the stock price has recovered in the last two months and has outperformed the Ibex 35 index by 7.6% so far this year.
Ferrovial rubbing its hands ahead of possible Heathrow airport extension
Ferrovial, which owns 25% of Heathrow, could benefit from the possible extension of the airport’s installations: apart from being able to participate in the construction of a third runway, the increase in the number of passengers would mean higher revenues, profits and dividends for the Spanish services and infrastructure operator.