A head start in Spanish equities
Also available in Spanish, see next article.
First of all, let’s be clear. The following is not investment research/advice.?And, as such, it involves no investment recommendations. These are notes I take to keep myself current on newsflow regarding Spanish equities. I share them freely (and not just as regards price). As always, I am only trying to help. Please read the rest of the “discomplainer (*)” at the end of the article.
Stories in alphabetical order
Faes???(=) Expects a new profit record in 2023 thanks to the international market (El Economista p8)
FCC??(=) Sources close to Mr Carlos Slim play down the probability of a bid for Metrovacesa (Expansion p6)
Ferrovial?(=) Debuts today on the Amsterdam stock exchange and aims to enjoy lower financing costs but warns of tax and reputational risks (Expansion p3)
Indra?(=) Indra and Bain clash over the valuation of ITP, as the fund believes it is worth double the Indra bid (El Economista p5)
Inmobiliaria Colonial??(=) Plans more asset sales after selling assets for €500m (Expansion p4)
Investment Strategy??(=) The Ibex index falls 0.02% to 9,430, with the ECB forecasts disquieting the market (Expansion p16)
(=) The ECB raises rates by 25bp to 4% and announces a new rise in July (Expansion p13)
(-/=) PM Sanchez puts the focus on fighting tax evasion in the Spanish presidency of the EU (Expansion p22)
(-/=) Total government debt slows to 113% of GDP in 1Q23 (-0.2pp from end-2022) but reaches a historic high at €1.53tn (Cinco Dias p21)
Macro?(-/=) The rise in rates puts 0.6m households in financial straits (Cinco Dias p20)
Sacyr??(=) Estimates the value of its concessions in 2025 at €3.7bn, €500m more than its last internal estimate (Expansion p4)
(=) Considers the water business strategic and leaves up in the air the entry of a partner (Cinco Dias p7)
*The above information has been read/understood/summarised/evaluated/copied as well as I could to provide a guide to Spanish equities (as part of a personal research project on the impact of information transparency on the market i.e. “derecho de cita”), given available timing/intellectual constraints, and I accept no liability for misreading and/or mistranslating the original copy (which I urge you to check, as I am only trying to point you in the right direction, I hope). As for what you may decide to do, after reading the above, please contact your legally approved provider of investment advice on Spanish equities. Feel free to copy (but remember to check the original first).