Today’s market chatter in Spain: Itinere, Abengoa, Inditex, and much more

SELF BANK explains that Spanish supermarket chain DIA is in the top of stock gains thanks to recommendation switch from Raymond James, whereas building company FCC and Sabadell bank hog the red lights.

Energy company Abengoa will execute the biggest solar thermal power technology project en LatAm. This way, Abengoa bolsters its position in Chile, where operates since 1987 and has carried out diverse schemes so far.

Spanish fashion company Inditex launches Stradivarius firm in Japan. Its presence in Asia is boosted by the opening of two new centres in Nishinomiya and Tokyo bay. Besides, the company is already strong with other units in Japan: Zara and Zara Home hold 92 stores and young firm Bershka 14 stores. Inditex is one of the largest fashion retail groups in the world with eight brands and over 6300 stores in 87 markets.

Sacyr agreed with Citi the comprehensive sale of highway company Itinere for €1.3bn. Citigroup controls 54% of this business. Sacyr 15.5% participation is worth €200M.  Itinere holds a €2.8bn debt that achieved to refinance in last October.”International investor interest and increasing highway traffic recovery sign lesses Sacyr risks to get drops in value,” Bankinter analysts say.

About the Author

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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