Today’s market chatter in Spain

RENTA 4 leaves Arcelor out of Big 5 investment portfolio and introduces OHL. The steel company performed well recently compared to Ibex whereas analysts prefer to take advantage of the latest drops of building business OHL. Therefore, the Big 5 are BBVA, DIA, Inditex, OHL and Repsol. This portfolio yield was 17.57% in 2013.

BNP PARIBAS/CORTAL CONSORS.  European peripheral countries fiscal consolidation efforts are bringing important benefits for risk premiums and debt issuance conditions. Besides, recovery rhythm will boost tax income, making target meeting easier.

LINK. Telefónica will pay cash dividend by €0.40/share on May 7. Besides, the company announced the progress in negotiation with European Commision in order to get its approval for acquisition of German KPN division E-Plus. EU Commissioner for Competition Joaquín Almunia has the final say.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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