European banks: Countdown to the M&A ballet
It is only a question of time and the markets are waiting: there will be more consolidation operations in the European banking sector in the next few years, some of them cross-border.
Markets
High acceptance (72%) of Telefonica’s hybrid bonds
Renta 4 | Telefónica has announced the result of the repurchase of the 2 hybrid bonds which it issued on 5 March. The nominal aggregate value which Telefónica will accept to purchase the bonds has reached 934.7 million euros, of which 586.5 million euros corresponds to the bond with maturity in December 2019 and 348.2 million euros with maturity in March 2020.
Spanish banks: less Tier1, no skeletons in the closet
Spanish banks are last in Eurozone in Tier 1 and penultimate in regulatory capital. But they have an unquestionable competitive advantage: they are the only transparent ones in the Eurozone for the ECB and for the other investors being the only audited ones. There are no skeletons in the closet even if there is less capital to compensate.
Sunflower seeds, sweets and chewing gum! Insurance, washing machines, investment funds!
Manuel Moreno Capa | Axa, Mapfre, Mutua and other big insurers have spent years settled solidly in the collective investment market, with their powerful fund managers. But today they are taking a step further: as insurers they are confronting what the experts call a structural fall in profits in their traditional business, they want to grow in others, but not only offering funds through their managers, but directly buying parts of the market, in other words other managers who bring their funds and their clients.
Recession warnings at a glance
It is impossible to predict a recession with precision, even less when the scenarios are constantly changing and with variables still unknown. But indicators exist that let us calibrate where the risks are accumulating.
European equity markets: “All the ideas are priced in”
Ana Fuentes | Funds´ volume of cash has reduced considerably in February and Europe is the region that has most benefited from asset allocation. A report by BofA Securities indicates that just in February $11.8bn has entered European equity markets. “All the ideas are put in the price”, explains Oscar Anaya, head of institutional sales at Tradition Securities and Futures Spain, “In one sense it is normal, but we are rather left in no man´s territory”.
Ibex 35 closes 2018 with an increase in net profits of 4.3%
Santander | The publication of the 2018 results have practically finished, and Europe´s company profits have shown their resilience in a global scenario dominated by the uncertainty generated by the fear of a “trade war”, volatility in emerging markets, currency weakness, Brexit, the increase in populism in the South of Europe…
BBVA honorary chairman Gonzalez leaves board amid spying probe
One day before the General Shareholders’ Meeting, the former president of BBVA announced on Thursday by letter that he is temporarily leaving the positions that bind him to the entity (he is the honorary president of the bank and the Foundation) until the end of the investigation of the Villarejo case, in which BBVA is related to a supposed espionage of politicians, businessmen and journalists when González occupied the presidency.
Endesa And Iberdrola Agree To Buy Gas From The US For 20 Years
Endesa and Iberdrola will next month begin to receive the first gas tankers from the Corpus Christi gas liquefaction plant, after this installation received the necessary permits for putting into function its first convoy. In this way, both Spanish companies put in action agreements of above 10 billion euros for the purchase of gas over the next 20 years.
Abertis Reorders Its Shareholders’ Debt Through Its Dividend Policy
Abertis will pay an extraordinary dividend of approximately 10 billion euros, of which ACS will receive approximately 4 billion euros, and this will allow it, in turn to improve its dividends. Abertis has announced to its shareholders – Atlantia (50%), ACS (30%) and Hochtief (20%) – the distribution of an ordinary dividend between 2018 and 2020 of 2.675 billion euros (891.6 million euros per year).