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

Banks sector?(=) Mortgage NPLs rise to 2.49% at the end of 1H23 from 2.38% at end March (Expansion p19)

BBVA??(=) BBVA turns Turkey into the motor of its investment banking division (Expansion p19)

CaixaBank??(=) Will distribute over €10bn to its shareholders through 2026 (Expansion p26)

CF Alba?(=) 1H23 net profit of €147m -24%, with NAV/share of €96,75 +8.4% (Expansion p6)

Deoleo?(=) 1H23 loss of €9.7m vs. profit of €5.6m, warning of further rises in olive oil prices despite the negative impact on consumption (Expansion p11)

Iberdrola/Mapfre?(=) Mapfre and Iberdrola considera an alliance to sell insurance (Expansion p22)

Investment Strategy?? (-) The Ibex index falls 1.12% to 9,386, with European markets dragged down by China (Expansion p24)

(=) The fight between the Treasury and the regional governments causes a sharp change in the geographical application of wealth taxes (Expansion p30)

(=) Spanish corporates earned 17,7% more in 1H23 despite the decline in revenues (Cinco Dias p10)

(=) Manufacturing gross profit falls 40% in the second quarter (El Economista p30)

Macro? (=) The August wholesale prices index showed a 10.0% YoY decline vs. -8.6% in July (National Statistics Institute)

*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).