Telefonica, Repsol, Jeronimo Martins: Iberian 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 declined 1.3 percent to 9,437.8. The PSI-20 Index retreated 1.6 percent to 7,285.87.
Acciona SA (ANA SM): The Spanish wind farm operator was cut to “equal weight” from “overweight” at Barclays Plc. The shares fell 0.6 percent to 51.43 euros.
Duro Felguera SA (MDF SM): The designer and builder of power plants said it won a refinery contract in Belarus valued at 128 million euros ($166 million). The shares declined 3.5 percent to 4.98 euros.
Grifols SA (GRF SM): The Spanish company plans to sell $1.1 billion of debt maturing in 2018 as soon as this week, according to a person familiar with the offering. Proceeds will be used to fund the company’s acquisition of Talecris Biotherapeutics Holdings Corp., said the person, who declined to be identified because terms aren’t set. The shares dropped 0.5 percent to 10.12 euros.
Iberdrola Renovables SA (IBR SM): The world’s biggest producer of wind energy was cut to “equal weight” from “overweight” at Barclays. The shares fell 2 percent to 2.55 euros.
Indra Sistemas SA (IDR SM): Spain’s largest computer- services company was cut to “neutral” from “outperform” at Credit Suisse Group AG. The shares retreated 0.7 percent to 12.41 euros.
Obrascon Huarte Lain SA (OHL SM): The Spanish builder’s Czech unit won a contract to renovate a railway line between the towns of Biadoliny and Tarnow in Poland for 131 million euros, El Economista reported. OHL, as the Spanish builder is known, also won another 7.3 million-euro railway contract in Poland, the newspaper said. The shares advanced 1.2 percent to 21.50 euros.
Repsol YPF SA (REP SM): Banco Bilbao Vizcaya Argentaria SA boosted its stake in Repsol to 3.28 percent from 2.48 percent, after buying 9.8 million shares of the Spanish petroleum company, La Vanguardia newspaper reported, without citing anyone. Repsol shares slid 0.8 percent to 20.42 euros.
Telefonica SA (TEF SM): Europe’s second-largest phone company plans to offer mobile-phone services in Costa Rica by the end of 2011 after bidding $95 million for a wireless license. The 15-year license must still be approved by regulators, Madrid-based Telefonica said. The stock slipped 0.8 percent to 16.58 euros.
Jeronimo Martins SGPS SA (JMT PL): Portugal’s biggest retailer is scheduled to report preliminary sales figures for 2010 after the close of trading. The stock fell 1.9 percent to 11.30 euros.
To contact the reporter on this story: Esteban Duarte in Madrid at email@example.com.
To contact the editor responsible for this story: Paul Armstrong at Parmstrong10@bloomberg.net.