Spain’s National Statistics Institute publishes a breakdown of inflation data for April at 9 a.m. CET.
Repsol YPF SA, Spain’s biggest oil company, said first-quarter profit adjusted to exclude inventories and one-time items rose 29 percent to 654 million euros. It beat the 553 million-euro mean estimate in a Bloomberg survey of analysts.The Madrid-based company will hold a conference call at 2 p.m. CET.
WHAT TO WATCH: *Prime Minister Jose Luis Rodriguez Zapatero will meet Spanish union leaders and the head of the CEOE business lobby in Madrid to discuss changes to wage-bargaining rules.
ECONOMY: *Spain’s April inflation data. *European Central Bank executive board member Jose Manuel Gonzalez Paramo speaks in Madrid at 11:30 a.m. CET. *European Union Monetary Affairs Commissioner Olli Rehn said Spain is “decoupling” from Portugal, Ireland and Greece, and that the EU’s sovereign debt crisis is limited to the latter three countries. He spoke to the European Parliament in Strasbourg, France. *Two earthquakes hit Spain’s southeastern region of Murcia yesterday, the government said.
EQUITIES: *Iberdrola SA is examining potential takeover candidates as a way to limit the influence that Actividades de Construccion y Servicios SA can exert over management, Expansion reported. *Acciona SA, the world’s fourth-biggest producer of renewable energy, publishes first-quarter earnings before the stock market opens in Madrid. The company will hold a conference call at 12 p.m. CET. *Criteria Caixacorp. SA holds a news conference and a shareholders meeting in Barcelona. *Clinica Baviera SA said in a filing first-quarter net income rose to 2.45 million euros from 2.3 million euros a year earlier. Sales rose 6 percent to 24.9 million euros. *Fluidra SA reports earnings. *Gamesa Corporacion Tecnologica SA reports earnings after market closes. Spain’s biggest wind turbine maker holds conference call at 6:30 p.m. CET. *Indra Sistemas SA reports earnings after the market closes. *Obrascon Huarte Lain SA said in a filing first-quarter net income rose to 37.3 million euros from 33.5 million euros a year earlier. Revenue fell 6.5 percent to 1 billion euros.
MARKETS: *The IBEX 35 Index rose 0.6 percent to 10,531.5 in Madrid. *The spread between Spanish and German 10-year borrowing costs narrowed to 212.7.