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Zeltia, Melia, Service, EDP-Energias: 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 0.4 percent to 8,428.90. Portugal’s PSI-20 Index (PSI20) fell 1 percent to 5,993.87.

Spanish stocks:

Melia Hotels International SA (MEL SM): The hotelier trades for the first time without the right to collect a gross dividend of 5.42 euro cents. The shares slid 0.6 percent to 5.40 euros.

Service Point Solutions SA (SPS) : Chairman Juan Jose Nieto said in an interview that the Barcelona-based company will “feel a lot of pressure in revenue and we’ll have to control cash and costs carefully. We don’t consider a share buyback, as it’s very difficult to add any value in this kind of context.” The shares climbed 1 percent to 31 euro cents.

Zeltia SA (ZEL) : The Spanish developer of cancer medicines from sea creatures said that Janssen Cilag, a unit of Johnson & Johnson, told the European Medicines Agency that there may be supply constraints on Caelyx in some European Union countries from August till the end of the year.

The commercialization of Zeltia’s Yondelis is authorized jointly with Caelyx in the EU for certain types of ovarian cancer, Zeltia said in a regulatory filing. Zeltia’s stock climbed 3.8 percent to 1.90 euros.

Portuguese stocks:

EDP-Energias de Portugal SA (EDP PL): Portugal’s biggest utility said Massachusetts Financial Services has a 2 percent stake in the company. The shares dropped 5.8 percent to 2.094 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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