Small companies are quite easy to ignore. After all, analysts rarely cover them, you may not have heard of them, and you are unlikely to have their products in your home. However, “small companies are often the ones that offer the biggest potential”, as said by analysts at Wisdom Tree.
The recently elected President of Mexico, Andrés Manuel López Obrador, wants to stop or, at a minimum, reconsider the construction project for the international airport of Mexico City, which was awarded to a consortium in which Spanish FCC and Acciona participate.
Just a year ago Amadeus was left just outside the EuroStoxx50, the main stock market index in the Eurozone. But this year´s revision has guaranteed, at last, its entry, which will take effect on 24 September. Amadeus will join other Spanish companies which form part of the index such as Santander, BBVA, Iberdrola, Telefonica and Inditex.
Link Securities | The Spanish construction and infrastructure company Ferrovial has won the contract to install two electrical substations in support of the construction of what will be the UK´s first high speed rail line linking London and Birmingham.
Morgan Stanley | For the first time since its flotation (17 years ago), we put the recommendation as Sell (underweight) with an Objective Price which falls from 26 to 21 Euros.
Miguel Navascués | Emerging markets continue seething and carry with them ever less confidence. The latest sign is that the flight of capital has sought refuge in US bonds (and in Wall Street, a new record), among other destinations, and has reduced the yield curve to a minimum of many years of 0.23%.
Intermoney | American companies continue to benefit from the favourable tail winds of solid growth in the world´s biggest economy and from the aftermath of the fiscal reform, which has also served to improvement in payments to shareholders.
In the opinion of Neil Dwane, global strategist at Allianz Global Investors, Turkey, confronted by growing structural challenges, especially the latest Lira crisis, needs a stronger response based in stricter fiscal and monetary policy, and a less confrontational foreign policy.
Renta 4 | The ratings agency S&P has maintained the rating of BBVA, but has lowered the Outlook from stable to negative because its exposure to Turkey through Garanti, of which BBVA controls 49.85% and which accounts for 15% of the Group´s profits.
Santander | After the collapse of the Morandi bridge in Genoa, the Italian government has begun the process of terminating ASPI´s concession. The management team could try to negotiate possible solutions to avoid the termination, despite the protection offered by the terms of the contract.