FCC, Pescanova, Santander and Vueling: Spanish Equity Preview

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

Spain’s IBEX 35 Index added 0.7 percent to 10,014.8.

Spanish stocks:

Banco Santander SA (SAN SM): Spain’s largest bank will reimburse investors in its Santander Banif Inmobiliario FII fund and if all the fund’s investors decide to withdraw, the operation will cost the bank between 2.35 billion euros ($3.14 billion) and 2.45 billion euros, Expansion reported. Santander shares added 12 cents, or 1.4 percent, to 8.34 euros.

Fomento de Construcciones y Contratas SA (FCC SM): The Spanish builder said it repurchased 65,000 shares on Nov. 26 at an average price of 17.88 euros per share as part of a buyback program related to its sale of convertible bonds. The shares gained 3 cents, or 0.2 percent, to 18.38 euros.

Pescanova SA (PVA SM): Caixa de Aforros de Galicia, Vigo, Ourense e Pontevedra, the savings bank group created from the merger of Caixa Galicia and Caixanova, plans to trim its stake in Pescanova by March 1 after the combined holding in the fish processor slightly exceeded 30 percent. Pescanova shares rose 19 cents, or 0.8 percent, to 24.29 euros.

Vueling Airlines SA (VLG DM): The Spanish low-cost carrier has been granted 7,000 landing and take-off slots at Amsterdam’s Schiphol airport, news agency ANP reported without saying where it got the information. Vueling shares slipped 1 cent, or 0.1 percent, to 9.35 euros.

To contact the reporters on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.