Renta 4 : European stock markets open moderately higher (Eurostoxx futures +0.3%) after positive US closes, in a session where the S&P 500 posted its best daily performance since November 2022. Yesterday’s better than expected initial jobless claims in the US (233,000 4-week low) helped to alleviate some fears about the US labour market. This helped equity markets, and we also saw a steepening in fixed income, with the US…
Link Securities) | Telefónica (TEF) and Vodafone have reached a strategic agreement with Meta (META-US) for the owner of Facebook, WhatsApp and Instagram to reduce its data consumption. Meta has implemented a new encoding in its videos that allows it to reduce its traffic by 20%.
Link Securities | The Libyan National Oil Corporation (NOC) confirmed on Tuesday the reduction in crude oil production due to a blockade by protests at the Sharara oil field, the most important in Libya operated by the Spanish company Repsol (REP), as elEconomista reported. The social leader of the Libyan region of Fezán, Bashir Sheikh, who has claimed responsibility for blockades in the past, disassociated himself two days ago from…
Link Securities | British private equity fund Marshall Wace has increased its bearish bet on Telefónica (TEF) to 1.21% from 1.12%, according to Bolsamania.com. Never before has Marshall Wace had such a large bearish position. According to the National Securities Market Commission (CNMV), the bearish fund first took a short position of 0.5% in April 2024, but has been increasing in recent weeks. Marshall Wace’s entry coincides with the increase…
Intermoney | Indra (IDR) has acquired the Deimos company from Elecnor, a subsidiary specialised in the development of space missions and satellite integration, according to several media. It has subsidiaries in the UK, Portugal, Italy and Romania. The price has not been made public, but could be in the region of €20-25 million, according to the press. Deimos has a strong position with space institutions, participating in national and European…
Bankinter | Telefónica is buying frequencies in the 3.5 GHz band , which is the standard for the bulk of 5G traffic, from Masorange. Both companies have submitted the formal request for the transfer to the Ministry of Digital Transformation. Opinion of Bankinter’s analysis team: The sale of frequencies by Masorange falls under the “remedies” or conditions imposed by the EC for the authorisation of the merger between Orange and…
Link Securities | The world’s major rating agencies have given the go-ahead to Iberdrola ‘s (IBE) biggest deal in recent years. Standard & Poors (S&P), Fitch and Moody’s estimate that the acquisition of 88% of British grid operator Electricity North West (ENW) for around €5 billion will improve the electricity company’s earnings structure, elEconomista reported on Tuesday. S&P expects ENW to contribute €500 million annually to IBE’s EBITDA (+3.5% versus…
Intermoney | As reported Tuesday by the company, Sacyr (SCYR) (Buy, PO €4.4) has been awarded the concession of the Northern Airport Network of Chile, which includes the airports of Atacama and Antofagasta. The consortium is made up of Sacyr Concesiones (70%) and Cointer (30%). The contract covers the operation and expansion of the two terminals of both airports. The concession foresees an investment of approx. €266 million and has…
Link Securities | Acciona Energy (ANE) on Monday announced the award of a 12-year “contract for difference” (CfD) with Croatian energy regulator Hrvatski Operator Trzista Energije (HROTE) for the 189MWp Promina photovoltaic plant, currently under development, according to Bolsamania. According to Acciona Energía, Promina will be built in the province of Sibenik-Knin, in southern Croatia, and will be the country’s largest solar plant when it comes into operation in 2027….
Link Securities | The European Commission (EC) explained on Friday morning the reasons why it opposed the purchase of Air Europa by IAG, according to Expansión. Iberia’s parent company announced on Thursday that it was abandoning the operation due to the EC’s demands, as it considered that the acquisition would no longer make sense if it had complied with them. The merger between the two would have adversely affected competition…