ACS, Europac, Jazztel and Sabadell: Spanish Equity Preview
The following companies may have unusual price changes in Spanish trading. Stock symbols are in parentheses and share prices are from the previous close.
Spain’s IBEX 35 Index added 0.1 percent to 10,385.1.
Actividades de Construccion & Servicios SA (ACS SM): The Spanish construction company and Austria’s Austro Control will jointly bid for contracts to operate control towers at airports in Spain, Expansion said, citing unidentified people familiar with the situation. ACS shares climbed 1 percent to 34.81 euros.
Banco Sabadell SA (SAB SM): The lender may consider a merger with CatalunyaCaixa, a group of Spanish savings banks, if the state’s rescue fund commits to covering losses the bank may incur as a result of the combination, El Economista reported, citing unidentified people in the finance industry. The shares added 1.2 percent to 3.29 euros.
Banco Santander SA (SAN SM): Spain’s Supreme Court has decided to bar Santander Chief Executive Officer Alfredo Saenz from working in a bank, a year after he was found guilty in a case stemming from when he was chairman of Banco Espanol de Credito SA in 1994, El Mundo reported. The shares dropped 0.2 percent to 8.49 euros.
Bolsas y Mercados Espanoles SA (BME SM): The manager of Spain’s stock exchange was rated “sell” in new coverage at Citigroup Inc. The shares gained 0.2 percent to 18.35 euros.
Fomento de Construcciones y Contratas SA (FCC SM): delayed plans to extend a 260 million-euro ($346.4 million) solar thermal power project near Cordoba which it is building with Mitsui & Co., Cinco Dias reported. The shares rose 1.7 percent to 19.02 euros.
Jazztel Plc (JAZ SM): The phone company may have reached full-year sales of as much as 610 million euros last year, Expansion reported, citing Chief Executive Officer Jose Miguel Garcia. The shares added 3.9 percent to 3.76 euros.
Papeles y Cartones de Europa SA (PAC SM): The paper products-maker expects the recovery in its business in 2010 to continue and its executive committee will recommend the payment of a dividend for 2010. The shares slipped 0.7 percent to 3.34 euros.
To contact the reporter on this story: Sharon Smyth in Madrid at email@example.com.
To contact the editor responsible for this story: Andrew Blackman at firstname.lastname@example.org.