Santander, Sabadell, Banco Comercial: 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.
Construcciones y Auxiliar de Ferrocarriles SA (CAF) : The Spanish train maker’s first-quarter attributable net income rose 4.7 percent from a year earlier to 25.8 million euros ($38 million). Sales climbed to 399.3 million euros, the company said. The shares fell 1.3 percent to 403.75 euros.
Jazztel Plc (JAZ) : The Spanish phone company reported first-quarter net income that beat analysts’ estimates as sales soared, boosted by a growing base of broadband customers. Net income was 6.9 million euros, compared with a net loss of 3.5 million euros a year earlier. The company forecast full-year profit will climb to 25 million euros to 35 million euros. The shares climbed 2.5 percent to 4.10 euros.
Sniace SA (SNC SM): The Spanish maker of wood-based products that’s expanding in renewable energy said first-quarter profit rose to 5.1 million euros as sales climbed to 42.3 million euros. The shares jumped 4.6 percent to 1.58 euros.
Banco Comercial Portugues SA (BCP) : Portugal’s biggest publicly traded bank in terms of assets said first-quarter profit dropped 19 percent to 77.7 million euros as trading income fell. The lender doesn’t intend to use state funds to recapitalize, Chief Executive Officer Carlos Santos Ferreira said. The shares climbed 1.3 percent to 54 euro cents.
Semapa-Sociedade de Investimento e Gestao (SEM) SGPS SA: The Portuguese holding company that controls a cement maker and a paper producer said first-quarter net income rose 78 percent to 32.6 million euros. The shares dropped 0.3 percent to 8.34 euros.
-- Editor: Stephen Kleege
To contact the editor responsible for this story: Angela Cullen at email@example.com.