José Benito de Vega | Moody’s has lifted Repsol’s outlook from negative to stable and confirms long- term debt rating at Baa2. Analysts were expecting this upgrading after Repsol presented a new strategic plan for 2016-2020. In fact, Repsol’s stock price performance has revalued 11%, less than the Ibex, but a lot higher than the Stoxx 600 Oil & Gas (-1%).
Nick Ottens via Atlantic Sentinel | An Americans sanctions bill that explicitly mentions the Nord Stream 2 pipeline has set off alarm bells in Berlin and Vienna.
There no asset which is safe, liquid and provides a good return all at the same time, since these variables usually go in the opposite direction; gold has an extremely high VIX or volatility index and it sometimes exceeds the Standard & Poor 500 index.
Cellnex’s stock market listing in 2015 was the first in a series of moves (Inwit’s share offer, the sale of Telefonica’s stake in Telxius, etc) towards the creation of a listed telecommunications’ infrastructure sector, focusing on the mobile broad band segment.
Deutsche Bank has begun the process to sell its retail banking business in Spain and expects to receive non-binding offers before July 18. The sale price is not known, but according to the economic press, the bank’s initial intention was to obtain up to 2 billion euros from the disposal.
Unicaja has announced it has received sufficient demand to cover its stock market listing, due on June 30, and expects to raise 875 million euros. The offers presented are not binding as no definite price has yet been obtained.
This coming Monday, Colonial will join the Ibex 35, meaning that Spain’s two biggest socimis will now be represented in the selective index. The weighting of Spain’s property sector in the index will also be increased as it continues its recovery.
The IMF has forecast the global economy will grow 3.5% in 2017. Likewise, in the year to date, markets have acheived high growth rates. UBP’s analysts keep in mind small & mid caps as an investment option.
Energy markets has been taking a beating with oil and natural gas prices down across the board. For once, the fundamental news flow was ample. The US Energy Administration reported their weekly set of data, which showed a stronger-than-expected increase of crude oil and oil products in storage.