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?? (=) Santander and BBVA call for a reduction in the sustainability regulatory burden (Expansion p18)

BBVA?(=) Raises by 33% its interim dividend, the highest in its history (Expansion p29)

Enagas??(=) Closes the acquisition of a 10% stake in the German HEH consortium (Cinco Dias p13)

Greenergy?(=) 1H23 net profit €4m -54% on revenues of €225.8m +110% and EBITDA of €21.7m +8% (Expansion p4)

Investment Strategy?(-) The Ibex index falls 0.37% to 9,331, while awaiting inflation (Expansion p34)

(+/=) European justice endorses the aid to large Ibex companies for their internationalisation (Expansion p38)

(=) Spain’s Supreme Court will revise government aid for foreign acquisitions (Cinco Dias p20)

(=) Inflation boosts the VAT tax pressure by €5.2bn (Expansion p39)

(-/=) Payroll tax contributions to pay pensions are the third highest in Europe (El economista p42)

Macro??? (-/=) The number of mortgages on homes registered in July fell 18.8% YoY (National Statistics Institute)

Real Estate sector??(-/=) Real Estate investment sinks 60% YTD due to the rise in interest rates (Cinco Dias p3)

Santander?(=) El Corte Ingles and Santander renew their alliance in financing (Expansion p3)

Telefonica??(=) Awaits the Government’s stance in order to set its position regarding the entry of Saudi Telecom into its shareholding (Expansion p8)

*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).

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