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BME, Telefonica, Gas Natural, Santander: Spanish Equity Preview

The following companies may have unusual price changes in Spanish trading. Stock symbols are in parentheses and share prices are from the previous close.

Spain’s IBEX 35 Index retreated 0.6 percent to 10,450.1.

Abengoa SA (ABG SM): The Seville-based engineering company aims to double its revenue and earnings before interest, taxes, depreciation and amortization over the next four years, Chief Executive Officer Manuel Sanchez Ortega said, according to newspaper ABC. The stock declined 0.57 percent to 18.47 euros.

Banco Santander SA (SAN SM): Spain’s largest bank was cut to “neutral” from “buy” at Nomura Holdings Inc. The shares fell 2.3 percent to 9.10 euros.

Bolsas y Mercados Espanoles (BME SM): The manager of Spain’s stock exchange was cut to “sell” from “neutral” at UBS AG. The shares fell 3.4 percent to 18.95 euros.

Gas Natural SDG SA (GAS SM): The Barcelona-based company said a ruling related to a gas dispute with Algeria’s Sonatrach may lead to a reduction in 2010 profit of as much as 450 million euros. The stock fell 1.69 percent to 10.75 euros.

Iberpapel Gestion SA (IBG SM): Spain’s largest producer of fine paper said full-year profit will exceed the 11.5 million- euro ($15.8 million) average estimate of three analysts in a Bloomberg survey, Chairman Inigo Echevarria said in a phone interview. The shares fell 0.6 percent to 12.43 euros.

Sacyr Vallehermoso SA (SYV SM): The builder aims to carry out a 400 million-euro share sale before the end of November, El Confidencial reported, citing unidentified people familiar with the plans. Shareholders including Juan Abello and a group of savings banks have doubts over whether to invest more money in the company, the financial news website said. The shares climbed 13 percent to 4.96 euros.

SOS Corporacion Alimentaria SA (SOS SM): Grupo Hojiblanca, a Spanish olive products co-operative, is considering purchasing a stake in SOS, El Economista reported, citing Hojiblanca Managing Director Antonio Luque. Hojiblanca could purchase shares in SOS as part of the food company’s planned rights offering, the paper said. SOS shares fell 1 percent to 1.03 euros.

Telefonica SA (TEF SM): Europe’s second-largest telecom company said Oct.1 its purchase of Portugal Telecom SGPS SA’s stake in Vivo Participacoes SA of Brazil will generate a capital gain of about 3.5 billion euros ($4.8 billion). The merger between Vivo and Telefonica’s fixed-line unit in Brazil will generate savings of 3.3 billion euros to 4.2 billion euros, it said. The shares increased 1.1 percent, to 18.18 euros.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at Parmstrong10@bloomberg.net.

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