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Bankia

Ibex, Markets, Spanish economy 4th September 2020

Bankia And Caixabank Will Create The Largest Bank In Spain, Streets Ahead Of BBVA And Santander

Bankia and Caixabank have communicated that they are at a preliminary talks stage for a possible merger that would be carried out through an exchange of shares. For the time being, no agreement has been reached. The merger would create a lender with total assets of €664 Bn (according to data from Q2’20). So it would be the leading Spanish bank by volume of assets. It would combine a network of offices (including those of CaixaBank’s Portuguese subsidiary) with 6,700 branches and staff of over 51,000.

Gold

Markets, World economy 21st August 2020

A Moment In Markets – Was It A Shift In Sentiment?

Mobeen Tahir, Associate Director, Research, WisdomTree | On Tuesday, 11 August, gold fell by over 5% and silver retreated nearly 15% prompting investors to wonder if there had been a material shift in market sentiment. Are defensive hedges no longer required? How important are gold and silver as risk sentiment improves? A glance towards the wider market, and indeed economic fundaments, can help answer these questions.

Inditex results

Markets 7th August 2020

The Apparel Retail Sector Has A 15% Upside Potential, Partly Due To Inditex

Alphavalue Research | The industry is still a question mark: the shift to online purchases, to what extent buyers will need to see, touch and feel a product before making up ones’ mind. However with a 15% upside potential, the sector is nearly at acceptable prices. This is entirely due to Inditex (27% upside) and M&S (25% upside but best avoided). The fact that Zalando or Next do not trade wildly above their target prices may also indicate that a Buy window has opened. Time to dip a toe again. 

Repsol biofuel

Ibex, Markets 5th August 2020

Repsol Produces Airplane Biofuel For The First Time In The Spanish Market

 

Repsol produced Spain’s first batch of biojet at its Puertollano Industrial Complex, becoming the pioneering company in the manufacturing of this sustainable aviation fuel in Spain. The first batch consists of 7,000 tons of aviation fuel with a bio-component. This will prevent 440 tons of CO2 emissions from being released into the atmosphere, which is equal to 40 Madrid-Barcelona flights.

 

Santander NYSE Bell Podium

Ibex, Markets 5th August 2020

The NYSE Recognizes Santander’s Global Action For Entrepreneurs In Response To Covid-19

The New York Stock Exchange acknowledged Santander’s management of the Covid-19 effects on the world economy, particularly the international initiative Santander X Tomorrow Challenge. It is focused on giving innovative solutions to help soften the socioeconomic consequences of the health crisis. As a symbolic act of this recognition, executive chairman, Ana Botín, rang on Monday the virtual bell to mark the end of the Wall Street’s session. The initiative awarded 20 winning projects of entrepreneurs from 10 countries.

telefonica vivo

Ibex, Markets 31st July 2020

Telefonica Joins Forces with TIM And Claro To Buy Oi, A Deal Aimed At Defending Its Leadership Position In Brazil

Spanish telecommunications’ giant Telefonica, together with Italy’s TIM and Mexico’s Claro, have tabled a 2.706 billion euros joint offer for the assets of Brazil’s Oi, the fourth largest telco in Brazil. This bid is 10% over the minimum auction price of 2.5 billion euros required by the company. Telefonica is market leader in Brazil with a share of 33% followed by TIM and Claro, with 24% each.

Spain confronts Brexit: The moment of truth for Spanish companies in the UK

Ibex, Markets 30th July 2020

IAG Needs To Strengthen Its Capital Despite Its €10Bn Of Liquidity

As reported in its Q1’20 financial results on May 7, IAG had a solid balance sheet and liquidity position prior to the health crisis. It had cash and undrawn credit lines amounting to 10 billion euros as of April 30. So the board’s announcement that it will carry out a 2.75 billion euros capital hike to strengthen its balance sheet (61% market capitalisation) was surprising.