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.
Liberbank’s shares fell as much as 30% during Friday’s stock market session and the CNMV has today forbidden short-selling in the stock for a monthy. But there is concern that Liberbank could suffer the same fate as Banco Popular.
Neoenergia’s shareholders (Banco de Brasil, Previ and Iberdrola) have reached an agreement for Neoenergia to incorporate Elektro’s business and activity. This operation was on the cards and will be very positive for Iberdrola and its stock price
The National Copper Corporation of Chile (Codelco), the main global supplier of copper, has chosen Abengoa to develop the electromechanical installation of the El Teniente mine, the biggest underground copper mine in the world.
For a few hours on June 7, Banco Popular had three owners: the previous shareholders, the FROB and Banco Santander; a quick trip, with a stop in between for a bit of a respite, before changing its skin. The Single Resolution Mechanism (SRM), in other words the ECB, decided on Tuesday that Popular was inviable and immediately started the liquidation process which begins with a bail-in.
Banco Santander today announces that it has acquired Banco Popular. The acquisition takes place following an auction conducted by the Single Resolution Board and FROB in which Santander was elected as the successful bidder, paying a notional consideration of €1. As part of the transaction Santander will complete a rights issue for a total amount of € 7 billion . This will cover the capital and provisions required to strengthen Popular’s balance sheet.
The airline industry will register net profit of $31.4 billion in 2017 (5.3% more than forecast in December) and revenues of $743 billion (0.9% more than the December estimate).