Financial Markets News | Page 47 of 267

Markets

The sale of Telefonica's share in 02 is unblocked

Ibex, Markets 6th May 2020

Telefónica Would Rather Merge Its British Subsidiary With Liberty Global Than Go Public

The company acknowledges that it is in the process of negotiating with Liberty Global for a possible integration of its assets in the UK, but there is no guarantee this will be successful or that the final terms will be met. Liberty Global offers pay television, broadband and telephony services in the UK through the Virgin Media brand. In addition, it has a mobile virtual operator or MVNO based on British Telecom’s network that expires at the end of 2021 (which would have already negotiated a switch to Vodafone).

Markets, World economy 5th May 2020

US Corporate Bonds: New York FED To Start Purchases “In Early May”

Markus Allenspach, Head Fixed Income Research, Julius Baer | At this stage, the corporate bond market needs support from the Federal Reserve to digest the negative news flow, such as the net tightening of lending standards for commercial and industrial loans in the senior loan officers’ survey published yesterday or the numerous cyclical data showing the depth of the contraction in the current quarter.

Markets 30th April 2020

Shell Cuts Dividend For First Time Since World War II

Royal Dutch Shell recorded losses of $24 million (22 million euros) in the first three months of 2020, compared to an attributable net profit of $6.001 billion (5.518 billion euros) a year earlier, as a result of the impact of the Great Confinement and the collapse of crude oil prices. The Board of Directors of Royal Dutch Shell has decided to cut the dividend for the first quarter of 2020 to $0.16, compared to $0.47 a year earlier.

Ibex, Markets 29th April 2020

ACS Sells 74% Of Its Six ‘Shadow Toll’ Motorways In Spain For €950 M

ACS has closed the sale of 74% of its stake in a batch of six tranches of ‘shadow toll’ highways in Spain to the Hermes fund. The operation was agreed last November and will generate a capital gain of 40 million euros for the infrastructure firm. The group will keep the remaining 26% of its share in the highways, which it will also continue to manage. Their total and joint value amounts to 950 million euros.

Ibex, Markets 28th April 2020

Santander Q1 Profit 331 Mn€, Down 82% Vs Previous Year; Provisions 1.646 Bn€

Banco Santander reported attributable profit of €331 million in the first quarter of 2020, 82% less than a year earlier, after recording a net charge of €1.646 billion. This impact was mainly due to a provision of €1.600 billion for the expected deterioration in macroeconomic conditions resulting from the health crisis caused by the Covid-19 pandemic.

Ibex, Markets 27th April 2020

DBRS Rates Acciona’s Debt At BBB In The Long Term And At R-2 In The Short Term

Acciona has publicly confirmed its rating from the Canadian agency DBRS. This is a rating that the Spanish firm has had since 2018 for various specific operations in different regions, mainly in North America, but which it has so far not released. Acciona does not have ratings from the main rating agencies. However the company believes that the flexibility of the sector analysis offered by DBRS allows it to more reliably reflect the joint risk of Acciona’s various businesses.

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.

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.

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.

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.

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