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

?ACS??(=) ACS and Apollo sell a further 17% of the Australian Ventia for €240m, reducing their stake to 11% (ACS 7%) (Expansion p5)

Almirall?(=) Acquires the rights to Spain for a new Alzheimer treatment with an initial payment of €45m (Expansion p5)

Banks sector?(-/=) The mortgage book of Spanish banks falls to €499.922bn in July, the low since May 2006, having fallen by €16.32bn in the last 12 months (Expansion p14)

(-/=) The Minister for the Economy assures the banks that the tax on the sector will be temporary (Expansion p15)

(=) The Minister for the Economy again calls on the banks to pay more for deposits (Cinco Dias p8)

(=) Consumer credit reaches 2009 highs in July, rising by €2bn YoY while household deposits fall €5.5bn (El Economista p13)

Investment Strategy???(-) The Ibex index falls 0.35% to 9,416, with doubts taking over the market (Expansion p16)

Macro?(-/=) Warning signs multiply pointing to a slowdown in GDP growth (Expansion p20)

(-/=) August registered unemployment rose by 24,826 workers MoM with affiliation to Social Security falling by 185,385 (Expansion p27)

*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).