Santander, Sabadell, Banco Comercial: 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 advanced 0.9 percent to 10,740.9. Portugal’s PSI-20 Index gained 0.4 percent to 7,616.54.

Spanish stocks:

Construcciones y Auxiliar de Ferrocarriles SA (CAF SM): The Spanish train maker’s first-quarter attributable net income rose 4.7 percent from a year earlier to 25.8 million euros ($38 million). Sales climbed to 399.3 million euros, the company said. The shares fell 1.3 percent to 403.75 euros.

Jazztel Plc (JAZ SM): The Spanish phone company reported first-quarter net income that beat analysts’ estimates as sales soared, boosted by a growing base of broadband customers. Net income was 6.9 million euros, compared with a net loss of 3.5 million euros a year earlier. The company forecast full-year profit will climb to 25 million euros to 35 million euros. The shares climbed 2.5 percent to 4.10 euros.

Sniace SA (SNC SM): The Spanish maker of wood-based products that’s expanding in renewable energy said first-quarter profit rose to 5.1 million euros as sales climbed to 42.3 million euros. The shares jumped 4.6 percent to 1.58 euros.

Antena 3 de Television SA (A3TV SM), Banco Pastor SA (PAS SM), Banco Sabadell SA (SAB SM), Banco Santander SA (SAN SM) and Bolsas y Mercados Espanoles SA (BME SM) are scheduled to report results.

Portuguese stocks:

Banco Comercial Portugues SA (BCP PL): Portugal’s biggest publicly traded bank in terms of assets said first-quarter profit dropped 19 percent to 77.7 million euros as trading income fell. The lender doesn’t intend to use state funds to recapitalize, Chief Executive Officer Carlos Santos Ferreira said. The shares climbed 1.3 percent to 54 euro cents.

Semapa-Sociedade de Investimento e Gestao SGPS SA (SEM PL): The Portuguese holding company that controls a cement maker and a paper producer said first-quarter net income rose 78 percent to 32.6 million euros. The shares dropped 0.3 percent to 8.34 euros.

-- Editor: Stephen Kleege

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