The US President has approved a discretionary imposition of tariffs on steel (25%) and aluminium (10%). So what does this mean for Spanish domestic manufacturers Arcelor and Acerinox?
German energy firms RWE and E.ON have announced an exchange of assets as part of a major deal which will transform the country’s electricity sector and could be worth some 20-22 billion euros (which according to Alphavalue’s calculations corresponds to an EV of 43 billion euros: market cap + debt).
The three big electricity companies with operations in Spain, namely Iberdrola, Gas Natural Fenosa and Endesa, earned 5.627 billion euros in 2017, up 3% from a year earlier.
Spain’s Stock Market Watchdog (CNMV) has finally given its green ligth to the bid from Hochtief, a subsidiary of ACS, for Abertis. The authorisation comes after the news of the talks between ACS and Atlantia aimed at reaching an agreement to put an end to the “bidding war”.
Atlantia and ACS could cease to be rivals in their bid for Abertis and become collaborators in the acquisition. The two companies acknowledged they had had initial talks, as a result of which they would jointly buy Abertis and share out its assets.
BBVA will invest 96 million euros to raise its stake in UK mobile bank Atom to 39 pct, the Spanish bank said in a statement.
Some key threats for investors, like the trade war between China and the US, have combined to paint a picture which makes us wonder if we should start to bet on defensive stocks. This contrasts with just one month ago when the market was betting strongly on cyclicals.
Acciona has been awarded a contract to design and build a desalination plant in Jebel Ali worth 250 million dollars (200 million euros). The contract was awarded by the Dubai Water and Electricity Authorities.
Aena may be studying the possibility of increasing its stake in the UK’s Luton airport (it has a preferential option) after its current partner, the fund Ardian, has shown interest in getting rid of its stake.
Bankia Chairman, José Ignacio Goirigolzarri, has fuelled M&A rumours after saying in an interview with the FT that the bank “fits perfectly with other large Spanish banks, specially BBVA.”