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Siemens Gamesa

Companies, Ibex, Spanish economy 12th August 2022

Siemens Gamesa will supply 14 turbines to the Philippines after its first renewable energies auction

Link Securities | Siemens Gamesa said in a statement that it has finalised a new agreement with Acen Corporation for the supply of 14 SG 5.0-145 turbine units to the Philippines. The deal comes in the wake of the first renewable energies’ auction in that country. This order comes after the same client last year signed up for the country’s biggest wind energy project, the 160 MW wind farm Pagudpud…

euro coin

Relevant News Item, Spanish economy 12th August 2022

Spain July inflation rate confirmed at 10.8%; highest level since September 1984

Spain’s inflation rate rose to 10.8% in July year-on-year, as confirmed by the National Statistics Institute (INE) on Friday. The figure is six tenths of a percent higher than that recorded in June and represents the highest level since September 1984. The INE had given an advance of the July CPI figure at the end of last month. Inflation has now been over 10% for two months in a row,…

Iberdrola

Companies, Ibex, Spanish economy 11th August 2022

Iberdrola, amongst stocks with greater exposure and benefitting more from clean energies in US

Morgan Stanley |The climate legislation in the US is improving the profitability outlook for investments in clean energy, since countries are competing for capital and accelerating the new energy ambitions in the wake of the global energy crisis. Previously, the US was the top destination for capital. However, the gas crisis in Europe has changed the preference for assignation of capital of those companies in our coverage: a: 1) Europe,…

Heathrow Ferrovial

Companies, Ibex, Spanish economy 10th August 2022

Ferrovial studies getting rid of Heathrow: book value assuming a valuation at RAB would be €840 M

Intermoney | Ferrovial (Hold, Target Price 24 euros/share) would be considering selling its 25% stake in Heathrow, where it has been present since 2006, according to various media outlets on Tuesday. These same sources say that one of the interested parties in this stake would be the fund Ardian, who would join forces with the Saudi firm PIF. Currently, in addition to Ferrovial, Heathrow’s shareholders are QIA (20%), the Canadian…

Sacyr

Companies, Ibex, Spanish economy 9th August 2022

Sacyr wins road works contract in Colombia for an investment of €900 M

Intermoney | Sacyr (Buy, Target Price 3,4 euros/share) has won the concession to improve and finish a dual carriageway running between the Colombian municipalities of Buga and Buenaventura, according to the daily Cinco Dias. The investment will be 900 million euros. The length of the new stretch of road is 128 km, and it will be complemented with other works and maintenance jobs on other roads, for a total of 244…

iberia IAG

Companies, Ibex, Spanish economy 8th August 2022

Iberia (IAG) reaches code-sharing agreement with Viva Aerobus; it will allow them to coordinate frequencies, mutually contribute clients

Intermoney | Last week, Iberia (IAG) and Viva Aerobus announced a code-sharing agreement for passengers travelling between Mexico and Spain. On the one hand, Iberia’s passengers who use the Madrid-Ciudad de México route will be able to take advantage of the network which Via Aerobus offers from that city. Meanwhile, on the other hand, those passengers who want to transfer to Madrid via Iberia will be able to connect with…

ACS

Spanish economy 8th August 2022

ACS, Acciona, finalists in the bid to build a new tram line in Calgary, with an investment of €4.2 B

Intermoney | ACS (Buy, Target Price 40 euros) and Acciona (Buy, Target Price 245 euros) are finalists in the bid to build a new tram line in the city of Calgary, in Canada, involving an investment of nearly 4.2 billion euros. This amount was fixed in 2020, but will undoubtedly increase given the current rise in inflation. The tram line, which envisages crossing Calgary from north to south, will be 46 km…

Acciona

Spanish economy 5th August 2022

Acciona still supported by renewables growth, an infrastructure portfolio at record high levels: Buy (T.P. 230,20 euros/shr)

Bankinter | Business evolution in the first half of the year is positive and Acciona’s results reflect solid progress in EBITDA (+65%) and in NAP (+36%). Acciona Energía is the main results’ growth driver thanks to a strong increase in average prices (+70%), along with a modest advance in capacity (+2%). The company’s infrastructure portfolio has reached a new record high after increasing by a further 14% in the first…

Meliá

Spanish economy 4th August 2022

Meliá’s revenues recover pre-Covid levels; capacity for price hikes will offset costs: Buy (T.P. 7,81 euros/share)

Bankinter |Meliá’s revenues recover pre-Covid levels and the strong capacity for price hikes at its hotels will allow for the increase in costs to be offset to a large extent. We foresee this trend extending at least over the coming months. For that reason, we are raising our recommendation to Buy. This is after tacitly lowering it to Neutral barely a month ago, given the doubts with respect to the…

Acciona

Spanish economy 3rd August 2022

Acciona wins €258 M contract in Chile to design and build desalination plant

Link Securities | Acciona has won a 258 million euros contract to design and build a sea water desalination plant in Chile, according to Europa Press. The new plant will be located in Puerto Patache de Collahuasi, 70 kms south of the city of Iquique. The project forms part of the “Infrastructure Development and Productive Capacity Improvement” plan for the mining company Doña Inés de Collahuasi (CMDIC)’s operations. It also…