Top Stories

Markets

Repsol

Ibex, Markets 23rd April 2020

Saudi Arabia’s Sovereign Wealth Fund Also Buys Shares in Repsol Amid The Crisis

The increase in WTI to $15.1/barrel and Brent to $22.22/barrel has boosted Repsol’s shares, which were trading today 2.06% higher. Despite this small respite, the Spanish oil firm has not been able to escape the latest moves of the Saudi Arabian sovereign wealth fund and is amongst the big European oil companies included in a list of stock market forays on the part of the Public Investment Fund (PIF) over the last few weeks, reported Financial Times.

gestamp china2

Markets, Spanish Small & Mid Caps 23rd April 2020

Gestamp’s Plants in China Move Towards Normality

The company has been progressively closing factories worldwide since mid-March. Europe was first, followed by America, but now it expects a gradual re-opening in the coming weeks. The only exception is China, where there has already been some opening up. Gestamp has 11 plants, two R&D centres in China, representing less than 10% of the 112 production plants that it has globally. They hope that activity will return to normal more or less imminently in the rest of its factories.

Avangrid

Ibex, Markets 22nd April 2020

Iberdrola To Supply ‘Green’ Energy To T-Mobile In The US From A 158 MW Wind Farm

Iberdrola, through its US subsidiary Avangrid, has signed a long-term ‘green’ energy power purchase agreement (‘PPA’ in English) with German telecommunications giant T-Mobile. The energy will be supplied by the Otter Creek wind farm in LaSalle County, Illinois, USA. The company has corporate clients in the US such as Nike, Amazon, Apple, Google and Facebook, amongst others.

deoleo

Markets, Spanish Small & Mid Caps 21st April 2020

Deoleo Returns To Profit After Six Years Of Losses, With Ebitda Up 167% In Q1’20

Spanish food company Deoleo, which owns oil brands like Carbonell, saw a 78% increase in its share price yesterday. This came in the wake of the presentation last Friday of its Q1 2020 results. Deoleo reported net profit of 3.4 million euros in the first threee months of the year, compared with a loss of 10.6 million euros a year earlier. These figures represent the company’s return to profit for the first time in six years.

cellnex telecom centro

Ibex, Markets 16th April 2020

Cellnex Accumulates A 20% Increase In Value Despite The Coronavirus

Cellnex buys 100% of Portuguese company NOS’ tower operator. The transaction involves nearly 2,000 sites, with an initial investment of around 375 million euros. But Cellnex has agreed to earmark a further 175 million euros to expand the perimeter by up to 400 more towers over a period of 6 years.

Santander Mexico

Ibex, Markets 15th April 2020

Banco Santander Announces It Will Not Meet Its Targets In Mexico

Banco Santander, the leading bank in Spain and the Eurozone, has warned of a slowdown in its business in North America. This is a region which accounts for 16% of group profits, thanks to the contribution from the United States (7%) and Mexico (9%). But the current pandemic led Santander Mexico to announce yesterday that it will not meet its 2020 targests, and that COVID19 will affect results at least until H1’21.

Jay Powell

Markets, World economy 10th April 2020

The Federal Reserve Ventures Into Unchartered Territory

J.P.Marín Arrese | Jerome Powell raises the stakes day by day by making bolder than ever decisions. He shatters the image of shyness, prudence and circumspection he offered when taking over the Fed chairmanship. His last daring move has left markets flabbergasted. No wonder. He has pledged 2.3 trillion to buy ungraded bonds and to set up a massive lending facility for Main Street companies, thus breaking the golden rule of including only high-rated paper in the Fed balance sheet. 

Banco Santander fulfills its commitment to shareholders and raises cash dividend by 3%

Ibex, Markets 7th April 2020

Santander Has €90 Bn Of Additional Credit For Families, Firms And SMEs Thanks To 2019 Second Dividend Cancellation

Banco Santander assumes that the coronavirus pandemic will force it to change its roadmap for the coming years. For the time being, the lender has announced that it will not pay a final 2019 dividend (0.13 euros/share planned for May) and suspended payment of the 2020 dividend. This is in line with the decision of the European banks which have adhered to the ECB’s recommendation.

fossil fuels

Ibex, Markets 7th April 2020

After Covid19, The Situation Will Not Be Easy For Fossil Fuel Suppliers

Alphavalue | One might wonder why equity investors bet on being long on oil last week when the Brent was reaching new lows. In fact on Tuesday, Brent prices hit 20-year lows in the $22/barrel range. It could be one of the surprising examples of how much risk can be taken when there is talk about, or hopes for, stimulus. At that point, even the strongest fundamentals tend to be ignored.

Iberdrola

Ibex, Markets 6th April 2020

Iberdrola Maintains Its Growth Objectives For 2020

At Iberdrola’s Annual General Shareholders’ Meeting last Thursday, Chairman Ignacio Galán announced that, for the time being, he expected Net Attributable Profit to grow at a “high single-digit” rate in 2020, thanks to record investments of over €10 Bn. The firm’s dividend is seen increasing in line with profits, he added. Bankinter analysts believe that Iberdrola’s expectations for 2020 may appear “somewhat optimistic, given the current context of uncertainty about the depth and duration of the Covid-19 crisis”.