IAG, Endesa, Sacyr, Acerinox, Brisa: 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 (IBEX) slipped 0.3 percent to 9,630.70. Portugal’s PSI-20 Index (PSI20) fell 0.1 percent to 6,895.39.

Spanish stocks:

Acerinox SA (ACX) : The stainless-steel producer’s first- half net income climbed to 101.8 million euros ($146.6 million) from 81.1 million euros a year earlier, the company said. The shares climbed 1.1 percent to 11.53 euros.

Dinamia Capital Privado SCR SA (DIN SM): The company said it will sell its stakes in Segur Iberica SA and Hortus Mundi SL to MCH Private Equity, Corpfin Capital and Segur Iberica for about 13 million euros, the company said in a regulatory filing. The shares fell 2.5 percent to 6.52 euros.

Endesa SA (ELE) : Spain’s Treasury delayed the fifth sale of about 2 billion euros of so-called tariff deficit bonds until September, El Economista reported, citing unidentified people in the industry. The shares slid 1.4 percent to 20.46 euros.

Faes Farma SA (FAE) : The pharmaceutical company’s first- half net income fell to 10.4 million euros from 12.7 million euros a year earlier, the company said in a regulatory filing. The stock was unchanged at 1.86 euros.

International Consolidated Airlines Group SA (IAG SM): Chief Executive Officer Willie Walsh wants to merge Portuguese state-owned airline TAP SGPS SA with British Airways and Iberia, the London-based Times reported. IAG shares rose 1.8 percent to 2.7 euros.

Sacyr Vallehermoso SA (SYV) : The Spanish builder began refinancing its 4.9 billion-euro syndicated loan linked to its 20.1 percent stake in Repsol YPF SA (REP), Expansion reported, without citing anyone. Sacyr’s stock declined 1.4 percent to 5.78 euros. Repsol’s stock dropped 0.3 percent to 22.03 euros.

Unipapel SA (UPL) : The shares of Spain’s largest maker and distributor of paper products should trade at 30 euros as the current price doesn’t take into account the acquisition of Spicers and the company’s reorganization, Expansion reported, citing an interview with Chief Executive Officer Millan Alvarez- Miranda. The shares advanced 0.6 percent to 12.81 euros.

Portuguese stocks:

Brisa-Auto Estradas de Portugal SA (BRI PL): The country’s biggest toll-road operator said traffic and toll revenue in Portugal may miss its target this year amid a weak economy. Toll revenue at the company’s main concession may miss the March forecast of a 2 percent to 3 percent gain, Chief Executive Officer Vasco de Mello said in a phone interview. Brisa shares fell 0.6 percent to 3.24 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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