Renta 4 | Técnicas Reunidas, in a consortium with TSK and Siemens Energy, has won a contract to develop two combined cycles in Mexico. The contract was awarded by the state-owned entity Comisión Federal de Electricidad de México. Last week, it awarded the consortium formed by Técnicas and TSK the construction of another two combined cycle plants. The contract is worth 337 million dollars (310 million euros) and includes the…

Renta 4 | Possible new measures to bring the price of electricity down. According to the press, the Ministry of Ecological Transition will force the four big producers (Iberdrola, Endesa, Naturgy and EDP) to sell 6% of its generation to provide liquidity for bilateral contracts. The aim is to link 10% of the PVPC to the result of these auctions. Whatsmore, the implementation of the Recore is being considered, making…

Norbolsa | BBVA has reached an agreement with Neon Payments Limited to acquire approximately 21.7% of its capital. The deal will be clinched via a capital increase and a payment from the Spanish bank of around $300 million. The Company, set up in the UK where it also has its headquarters, fully owns the Brazilian company Neon Pagamentos S.A. As of the date of this communication, BBVA is already the…

Morgan Stanley | According to our macroeconomists, the yield on the German bond could reach 0,6% at year-end. If this happens, it would be very negative for various stocks in the real estate sector. Over the last decade the correlation between property companies and the bond yield has been strong. So a rise of 38 pb would add a lot of volatility. This could lead to corrections of around 20%…