Spain pulled its initial public offering for Sociedad Estatal Loterias & Apuestas del Estado, while Repsol YPF SA (REP) changed its by-laws to limit competitors from holding positions on its board in response to a shareholder
pact between Sacyr Vallehermoso SA and Petroleos Mexicanos.
WHAT TO WATCH: *Banco Santander SA (SAN) holds an investors’ meeting in London. *The National Statistics Institute publishes consumer price data
for September and retail sales for August at 9 a.m. CET. *Spain’s Public Works and Housing Ministry publishes housing data for June.
ECONOMY: *The finance ministry said last night it pulled the IPO for 30 percent of the state lottery operator because of market conditions. *Finance Minister Elena Salgado is interviewed on the state broadcaster at 8.10 a.m.
EQUITIES: *Chairman Antonio Brufau moved to expel representatives of two of Repsol YPF SA’s biggest investors from its board after they formed an alliance aimed at curbing his power and changing the company’s strategy. *Banco Santander holds an investors’ meeting in London. *Gamesa Corporacion Tecnologica SA (GAM), Europe’s second-largest wind-turbine maker, opened an engineering center in Scotland as part of its plan to base its offshore operations in the U.K.
MARKETS: *The IBEX 35 Index declined 0.6 percent to 8,480.2. *The spread between Spanish and German 10-year borrowing costs narrowed to 306.9 basis points.
To contact the reporter on this story: Manuel Baigorri in Madrid at firstname.lastname@example.org
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