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Repsol, Solaria Energia, Almirall, EDP: 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 fell 1.4 percent to 8,185.5 in Madrid. Portugal’s PSI-20 Index (PSI20) declined 0.7 percent to 6,026.08.

Repsol YPF SA (REP) : Argentine workers began a strike at oilfields operated by the country unit of Spain’s largest oil company and took over a storage plant, newspaper La Nacion reported, citing a union official. Repsol stock fell 0.8 percent to 18.22 euros.

Almirall SA (ALM) : The pharmaceutical company’s biggest shareholders Antonio Gallardo and Jorge Gallardo, as well as Daniel Bravo, intend to buy as much as 1.5 percent of the shares during the six months starting Aug. 29, according to a regulatory filing. The shares fell 2.5 percent to 5.44 euros.

Solaria Energia y Medio Ambiente SA (SLR) : The solar power producer said in a filing it obtained certification from Italian authorities that will allow it to earn 10 percent more in subsidies for its solar power plants in the country. The stock retreated 1.6 percent to 1.56 euros.

Portuguese stocks:

EDP-Energias de Portugal SA (EDP PL): Morgan Stanley is advising on the sale of Portugal’s 1.65 billion-euro ($2.4 billion) stake in utility EDP-Energias de Portugal SA, two people with knowledge of the matter said Aug. 26.

Separately, Centrais Eletricas Brasileiras SA (ELET6 BZ) plans to bid for a 25 percent stake in EDP, news service Agencia Estado reported, citing Brazilian Energy Minister Edison Lobao. EDP stock declined 0.6 percent to 2.15 euros.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net.

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net.

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