Renta 4: Since 2020, the stock has accumulated four years of consolidation since 2012. These consolidation ranges are usually of continuity of the previous trend (upwards since 2012). Since March, the price has shown a striking robustness and faces the passage of the guideline linking the highs of 2007, with those of 2020 and 2022 at €3.70, above which it would confirm its good form. The narrowness of the price…
Link Securities | Repsol (REP) has signed a partnership with Honeywell to create new production pathways for biofuels and circular materials, according to BolsaMania. The two companies will also explore the possible integration of these methods into Repsol’s existing facilities. They plan to expand and commercialise Honeywell’s technologies for the production of renewable chemicals and fuels at REP’s refineries. They aim to produce different biofuels, including sustainable aviation fuel (SAF)…
Alphavalue/DIVACONS | A Los Angeles law firm, The Schall Law Firm, filed a class action lawsuit against the Catalan company on Tuesday, based on allegations made earlier this year by Gotham City about its accounts. This comes at a time when Grifols is debating a possible takeover bid being prepared by the Grifols family in conjunction with Canadian fund Brookfield. Grifols shares dropped -5.38% yesterday. Grifols: Buy, Target Price €19.9/share.
Link Securities | The Ministry of the Interior has awarded Telefónica (TEF) two of the three lots of the public contract for the provision of telecommunications services for the Directorate General of Police for almost €138 million, according to the newspaper Expansión. Specifically, Telefónica has been awarded the lot relating to unified communications for the National Police for €112.49 million and the part of the contract relating to information and…
CdM | Aena’s airports in Spain registered more than 31.9 million passengers in July, which is an all-time record for the month. The figure is 7.2% higher than in July last year, according to data provided by the company. Specifically, the seventh month of 2024 closed with 31,900,662 passengers in the airports of the Aena network in our country. Of these, 31,828,032 were commercial passengers: 22,241,650 travelled on international flights,…
Link Securities | BBVA (BBVA) has acknowledged to the National Securities Market Commission (CNMV) that if it successfully carries out the takeover bid for Banco Sabadell (SAB), but cannot complete the merger, it would find it difficult to meet its target cost savings of €850 million over three years, as reported yesterday by the digital portal Invertia.com. In any case, it believes that in this scenario it could materialise “most…
Link Securities | ACS (ACS), through ACS Infra (Iridium) and Flatiron-Dragados announced that it has been selected by the Atlanta Airport Community Improvement Districts (AACID) to design, build, finance, operate and maintain the Automated Transit Network (ATN) Project that will improve connections at the world’s busiest airport. No financial details of the contract have been disclosed, according to Cinco Días newspaper on Monday. This pilot project extends approximately 800 metres…
Renta 4 : European stock markets open moderately higher (Eurostoxx futures +0.3%) after positive US closes, in a session where the S&P 500 posted its best daily performance since November 2022. Yesterday’s better than expected initial jobless claims in the US (233,000 4-week low) helped to alleviate some fears about the US labour market. This helped equity markets, and we also saw a steepening in fixed income, with the US…
Morgan Stanley | Following a road show with the company’s management team in NY, Ross Law (analyst) reiterates his investment thesis: despite near-term headwinds, he believes the medium-term growth outlook remains attractive (5Y EPS of €23-28 and a mid-teens FCF CAGR). As such, with the stock trading near cycle lows (9x MSe FY3 EV/EBIT) Ross reiterates Overweight (OW). More specifically, the analyst highlights that: a) engine supply has not fully…
Bankinter | The Bank of Japan says it will not raise rates while markets are unstable. Bank of Japan Governor Shinichi Uchida stated that interest rates will remain at current levels for as long as market volatility persists. He also suggested that the BOJ will carefully consider financial market conditions before making future rate decisions. Bankinter’s research team’s view: Uchida’s dovish message has helped calm markets. The shift towards a…