Aena IPO likely to lead sentiment for Spanish markets


Traders on European markets will be eager to see the early performance of Spanish airport group Aena, with the company set to launch an IPO for 49% of its shares at 12PM today. The shares have been given an initial value of € 58 per share, with the company valued at a total of €8.7bn.

There has been slightly improved sentiment on markets around the globe amidst rumours that euro zone Governments and their Greek counterparts may be edging somewhat closer to conciliatory talks in the days ahead.

There have been cautious soundings about the possibility that the Greek government may be offered a type of short term funding which would bridge the country’s shortfall until such a time as they can prepare detailed proposals to their creditors.

Alexis Tsipras issued a number of defiant statements last night through social media, reiterating the stance that the new Syriza led government would not deviate from the anti-austerity mandate voted for in the recent elections. Tsipras also stressed the importance of European unity, a tone which may have mitigated against some of the stronger rhetoric.The coming days will reveal whether the parties are any closer to agreement, with tomorrow’s meeting in Brussels set to be crucial.

The IBEX 35 of Spanish shares inched up slightly (0.09%) in early trading to 10,509.50. The euro was trading at USD 1.1315.

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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