This is what markets makers are talking about today:
ACF. Telefónica leaves Portugal. The company, which held €14M of capital, decided to conclude its historical participation in Portugal Telecom aiming at controlling the position in the Brazilian market. It paves the way for Vivo (TEF), Claro (AMX) and Oi (PT) to buy TIM Brasil. / Repsol Shareholders Assembly will pass the agreement on YPF next Friday, after the Senate of Argentina does so. Repsol will also propose a reduction in the corporate capital.
CORTAL CONSORS forecasts 0.8% GDP growth in Spain this year and 1.8% in 2015. They expect Ibex 35 to boost by 10% (15 % in 2015) and finish the year at 10,700 points (12,300 in 2015).
SABADELL. Government prepares a gas reform scheduled to be passed before this year’s end. Gas distribution changes would offer a better retribution than electricty distribution, on the grounds that gas is not considered a basic service and business risk is higher than electric sector risk. Another goal is to drastically reduce transportation and regasification cost. Market could push up Gas Natural to the detriment of Enagás.
SANTANDER. France’s National Front and Greece’s Syriza’s rise are bringing political and economical risk to Europe. Local elections in France might bring about the downfall of PM and Finance Minister. / Troika returns to Spain this week to assess the financial sector, the budget situation and the economy improvement.
RENTA 4. Today’s stock exchange is expected to be weak in view of another concerning sign from Asia. HSBC China Manufactuing PMI didn’t meet predictions in March: 48.1. It is the third straight month remaining under 50. Coming up, macro news from the US may invigorate markets.
Be the first to comment on "Today’s market chatter in Spain: gas reform, tourist sector rocking and much more"