Bolsas y Mercados (BME) has published a report giving details of stock market trading activity in December, as well as a figure for 2017 as a whole. Some €651.466 million were traded in equities during last year, in line with the amount negotiated in 2016.
According to a statement lodged with Spain’s Stock Market Regulator (CNMV), Gas Natural has completed the first stage of the sale of 59.1% of its stake in its Colombian affiliate Gas Natural SA ESP.
The planned IPO of Neoenergia, the biggest electricity company in Brazil and leader in Latin America by number of clients, with 13,4 million, has not gone ahead. The firm is the result of the merger between Iberdrola’s subsidiary Neoenergia and Elektro.
A consortium led by Acciona has been awarded an 800 million euros water management contract in Veracruz (Mexico) for a 30-year period. With this contract, apart from boosting its presence in Mexico where the company has been operating for 40 years, Acciona will increase its experience in the country’s water sector.
Repsol is doing very well at the moment. And in fact, it has been selected as the best exploration and production company in 2017 by Platts Global Energy Awards. During H1’18 Repsol will present its new 5-year strategic plan. The most interesting part will be the so-called “third leg”, describing the firm’s vision of the future.
The effective launch of the bids for Abertis will be delayed 2-3 months if the CNMV revokes authorisation for Atlantia’s offer and it has to seek prior government approval.
Unicaja Banco offers a good investment opportunity which we consider is interesting from a price angle. UC is trading at a discount close to 50% – in terms of Price/Tangible Book Value – with respect to the main domestic banks (Caixabank, Bankia and Sabadell).
Mapfre said last Friday that it will restructure its business in the US “to optimise its profitable growth structure and concentrate the operations there in a smaller number of states.”
The difference between top managers’ salaries in Ibex-35 companies and the lowest salaries in these same firms is on average 207 times, which shows the salary gap in Spain is increasing.
The weakness in Ferrovial’s share price compared with that of its peers is largely down to the erosion in the construction division’s EBITDA margin. This has declined by 65% to 2.6% for Ferrovial Agroman, and it’s not expected to recover until the beginning of 2019.