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Santander, Popular, Ferrovial: Spanish Equity Market 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 (IBEX) fell 1.2 percent to 10,204.50.

Spanish stocks:

Banco Popular Espanol SA (POP) : Fitch Ratings downgraded the banking company to A-, from A, with a negative outlook. The shares dropped 2.5 percent to 3.86 euros.

Banco Santander SA (SAN) : Spain’s market regulator said it granted Spain’s biggest lender the exemption it sought so that it won’t have to launch a takeover bid for Metrovacesa SA (MVC) if the bank’s stake rises to 30 percent as a result of a capital increase. Santander slid 2.1 percent to 7.85 euros, while Metrovacesa’s stock slipped 0.7 percent to 4.57 euros.

CaixaBank SA (CABK SM): CaixaBank’s new shares from capital increase will start trading on July 7. The shares fell 0.7 percent to 4.77 euros.

Compania Espanola de Petroleos SA (CEP SM): Spain’s market regulator said in a filing it approved the takeover of the gasoline refiner by International Petroleum Investment Company. The shares gained 0.1 percent to 27.89 euros.

Ferrovial SA (FER) : Heathrow Express reached an agreement in talks with its staff and their representatives, who have accepted a pay offer, according to an e-mailed statement from BAA Ltd., a unit of the Madrid-based company. Ferrovial shares dropped 0.7 percent to 8.61 euros.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.

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