Mr. Orcel is currently member of UBS Group’s executive committee and “brings a wealth of experience and expertise, having worked closely with Santander for almost two decades”, according to the financial entity.
The electricity distribution network in Portugal is going to be re-auctioned within an ambitous programme of liberalisation launched by the Government. The Portuguese electricity market, with more than 6 million connections, is a quarter that of Spain. Endesa looks to take advantage as it has 18% of the energy supply market in the country.
Chandra Roy | In this tenth anniversary of the financial market crisis, market regulators can clearly be seen to support the short-sell strategy of securities, rather than outlaw it. The practice is likely to gather further momentum as it is widely expected that at some point, new legislation will allow insurance companies and other final users to participate in the pool of securities on offer; currently, borrowers must source their needs from depositories and other trading houses via bespoke agreements.
Gestamp, the multinational company specialising in the design, development and fabrication of highly engineered metal components for the car industry, has recently inaugurated its new plant in Wolverhampton, in the West Midlands (UK). In fact, Gestamp counts with seven production plants in the country. Since 2012, the company has invested more than 200 million pounds in its installations in the UK.
Cepsa will be launched onto the stock market in the last quarter of the year through an IPO. Valuations are being discussed in the range of 10 or 11 billion euros for 100% of the company. The Abu Dhabi sovereign fund (IPIC) bought 100% of Cepsa in 2011. At that stage Cepsa was listed in the stock market for approximately 7.5 billion euros.
The Spanish financial entity BBVA has entered the Dow Jones sustainability index, which Telefonica has left. BBVA shares have accumulated losses of -23.38% so far in this exercise, weighed down by the situation in Turkey, a region which contributed 11% of the Group’s net profits in the first half of 2018.
Enagas and Reganosa, who were unable to integrate in Spain, have signed an agreement to present themelves jointly ain the tendering process for the operation and maintenance services for one of the largest Liquid Natural Gas (LNG) in the Al-Zour refinery in Kuwait.
The Spanish leader in insurance has registered a modest performance of +14% in the last two years, the weakest among the insurers analysed at Alphavalue. Since August 2017, when the hurricane season began in the US, Mapfre has not been able to keep up with the rest of the sector. In Alphavalue´s estimates, the company should benefit from a first series of three consecutive years of growth in net profits in the period 2018-20.
Australia has awarded to a subsidiary of Naturgy a total of 180 MW installed capacity in a windpower project located approximately 150km from the city of Melbourne. The wind farm is expected to contribute gross operating profits (Ebitda) of approximately 22 million euros when it is in full operation.
Inditex has presented its results for the first half of the fiscal year (1 February – 31 July 2018). The company obtained a net profit of 1.409 billion euros, which means an increase of 3% compared to the 1.366 billion euros in the same period last year.