Link Securities | Iberdrola (IBE) has inaugurated on Thursday in Brittany the Saint-Brieuc wind farm in France, one of the first two in the country, with 496 MW of capacity and an annual production of 2 million megawatt hours (MWh), as reported on Thursday by Bolsamania.com. This will provide safe, indigenous and emission-free energy to nearly one million people. With an investment of €2.4 billion, the project began to be...

Link | CAIXBANK (CABK) has extended the service it provides with its mobile branches in 1H24 to guarantee financial inclusion to a total of 804 towns and cities, which is 27% more than the number of locations served by the financial institution’s mobile branches in the first six months of last year. CABK thus provides financial coverage with its mobile branches in towns where 340,000 people live, who, whether or...

Morgan Stanley | STEEL Alain Gabriel publishes today a recap presentation with the main figures and trends in European steel. His main OWs remain Arcelor and voestalpine (the latter he upgraded to OW last week) and Acerinox and Outokumpu in stainless steel. STEEL Arcelor- trades at a steep discount to its cyclical low multiple with normalised earnings and offers an interesting risk-return 12 months ahead. The new ebitda calculation perimeter,...

Santander | In a significant event, Abertis (BBB- e, BBB e) has announced that the Texas Department of Transportation (TxDOT) has decided to proceed with the repurchase of the SH-288 toll road in Texas, which has been owned by ACS Group and Abertis since November 2020. TxDOT will make a payment of $1.732bn, of which $520mn will be used to repay debt associated with the project, while Abertis will receive...

According to press reports, OHLA has been awarded in consortium the execution of lot 3 of the Salvador de Bahia tramway between Aguas Bravas and Piata (construction of a 10.5 km section, 8 surface stations, an interchange station and a viaduct) for €140 million. Assessment: Positive news with limited impact. This contract represents ~2% of the Construction project portfolio.

Link | Ferrovial announced on Friday that, in accordance with the authorisation granted by the General Shareholders’ Meeting of 11 April 2024, it has agreed to implement a share buyback programme, which will be executed in accordance with applicable law. The Programme will have the following characteristics: Purpose: To buy back own shares of FER in the framework of different corporate actions (such as, for example, share incentives for employees,...