Banco Bilbao, Alba, Ezentis, Mota-Engila: Iberia Stock Preview
The following companies may have unusual price changes in Spanish and Portuguese trading today. Stock symbols are in parentheses and share prices are from the previous close.
Banco Bilbao Vizcaya Argentaria SA (BBVA) : Morgan Stanley initiated coverage of Spain’s second-biggest bank with an “overweight” recommendation. The shares climbed 4 percent to 6.34 euros.
Banco Santander SA (SAN) : Morgan Stanley initiated coverage of Spain’s biggest bank with an “equal-weight” recommendation. The shares climbed 4.4 percent to 6.42 euros.
Corporacion Financiera Alba SA (ALB SM): The investment holding company said in a filing to regulators that first-half net income climbed 91 percent from a year earlier to 284 million euros ($409 million). The shares rose 1.8 percent to 34.30 euros.
Grupo Ezentis SA (EZE) : The telecommunications and construction company said it refinanced 20 million euros of loans to support its photovoltaic business. The shares jumped 4.4 percent to 19 euro cents.
Mota-Engil SGPS SA (EGL) : Portugal’s biggest construction company said net income in the second-quarter dropped 24 percent to 12.6 million euros. The company also said it won contracts in Peru. Shares dropped 2.4 percent to 1.33 euros.
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