Spain’s Cabinet holds its weekly meeting, while the purchasing managers’ index and new car registrations data are released.
WHAT TO WATCH: *Cajastur, Caja Extremadura, Caja de Ahorros del Mediterraneo and Caja Cantabria have to present the Bank of Spain with their new strategies after a planned merger collapsed. The Bank of Spain said on March 30 they must come up with the new plans “immediately” and CAM said it would seek support from the state rescue fund known as FROB. *Cabinet meeting, followed by news conference by Deputy Prime Minister Alfredo Perez Rubalcaba at 1:45 p.m. CET.
ECONOMY: *Manufacturing PMI data for March at 9:15 CET. *ANFAC publishes data on new car registrations, a proxy for sales.
EQUITIES: *Banco Santander SA (SAN) is the favorite candidate to buy Caja de Ahorros del Mediterraneo (CAM), El Economista reported, citing unidentified people in the financial industry. Banco Bilbao Vizcaya Argentaria SA (BBVA) is the second most favored buyer for the Alicante-based bank, which may need a capital injection of as much as 3 billion euros ($3.25 billion), the newspaper said. The regulator may try to auction CAM this weekend, it reported. *Amper SA (AMP) said it closed a transaction to buy 85 percent of eLandia International Inc. in exchange for 79.7 percent of its Brazilian unit Medidata Informativa SA. *Bankinter SA (BKT) said the first tranche of its convertible bond sale was oversubscribed. *Ebro Foods SA (EBRO) agreed to purchase SOS Corporacion SA’s rice division for 205 million euros, Ebro said in a regulatory filing. *Actividades de Construccion & Servicios SA is looking for a candidate to replace Hochtief AG’s Chief Executive Officer Herbert Luetkestratkoetter, Cinco Dias reported, without saying how it got the information.
To contact the reporter on this story: Manuel Baigorri in Madrid at firstname.lastname@example.org
To contact the editor responsible for this story: Angela Cullen at email@example.com