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??(=) ECB vice president De Guindos says it is premature to talk about rate cuts and that the tax on banks has created uncertainty (Expansion p15)

(=) The Ministry of the Economy will limit commissions charged by investment funds (Expansion p17)

CaixaBank?(=) The FROB government holding company seeks advisor for the sale of its 17.3% stake in CaixaBank (Cinco Dias p8)

Catalana Occidente? (=) Does not rule out expanding abroad if it can be a relevant player there (El Economista p20)

Ferrovial?(=) Accelerates contacts with the airlines for its JFK terminal (Expansion p10)

Investment Strategy?(-) The Ibex index falls 1.16% to 9,319, with doubts rising at the start of the quarter (Expansion p19)

(+/=) The EC gives the go-ahead to increasing European aid to Spain by €94.0bn, replacing the commitment to introduce tolls on government-owned motorways with increased rail investment (Expansion p25)

(-/=) Sumar demands the control of food margins in order to support the re-election of PM Sanchez (Expansion p27)

(=) The Independent Fiscal Authority (Airef) demands political consensus to prevent the budget deficit solidifying at 3% of GDP (Expansion p27)

Macro??(=) Spain’s manufacturing PMI index for September printed 47.7, up from 46.5 in August (S&P Global)

*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).