Telefonica, Sacyr, Gamesa, Indra, Cofina: 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.

The IBEX 35 Index dropped 0.4 percent to 10,487.6. Portugal’s PSI-20 Index added less than 0.1 percent to 7,774.03.

Spanish stocks:

Gamesa Corp. Tecnologica SA (GAM SM): Spain’s biggest wind-turbine maker posted profit of 13 million euros ($18.5 million) for the first quarter, above analysts’ estimates, helped by foreign sales. The shares advanced 0.4 percent to 6.26 euros.

Indra Sistemas SA (IDR SM): Spain’s largest computer services company said first-quarter net income climbed to 49.7 million euros from 46.6 million euros a year earlier. The shares fell 0.6 percent to 15.49 euros.

Sacyr Vallehermoso SA (SYV SM): The Spanish builder is scheduled to report first-quarter earnings. The shares slipped 0.4 percent to 8.01 euros.

Tecnicas Reunidas SA (TRE SM): The Spanish engineering company reports first-quarter earnings. The shares slumped 1.4 percent to 41.11 euros.

Telefonica SA (TEF SM): Europe’s second-largest phone company is scheduled to report first-quarter earnings before the market opens in Madrid. The shares slid 0.4 percent to 16.97 euros.

Portuguese stocks:

Cofina SGPS SA (CFN PL): The publisher of some of Portugal’s top-selling newspapers posted a first-quarter profit compared with a year-earlier loss, reflecting the higher value of its stake in telecommunications company Zon Multimedia SGPS SA. Operating revenue fell 8.2 percent. Cofina shares dropped 1.9 percent to 51 euro cents.

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