Friday May 9, 07:59 AM
Madrid shares TFN at a glance outlook
MADRID (Thomson Financial) - Share prices are expected to open flat to lower in cautious trade after a weak close in Asia as oil prices hit new highs.
On Thursday, the IBEX-35 index ended up 47.20 points at 14,074.00, after trading
in a range of 13,881 to 14,074.
FORTHCOMING EVENTS
FRIDAY
-Gas Natural Q1 results webcast (10:00 a.m.)
-Almirall AGM
-Acceptance period for Prisa (Madrid: PRS.MC - news) bid on Sogecable (Madrid: SGC.MC - news) ends
-Sogecable to temporarily leave IBEX-35
TODAY'S PRESS
-Savings banks look to sell Ebro Puleva (Madrid: EVA.MC - news) stake once sugar ops sold (El Economista)
-Savings bank fund looks to buy up to 3 pct in Enagas (Madrid: ENG.MC - news) (Negocio rumour column)
-Santander (Madrid: SAN.MC - news) proposes a strategic alliance with BMPS in LatAm; could raise stake to 4.0 percent (La Gaceta de los Negocios)
-Santander eyes teaming up with other investors to subscribe to Sovereign (LSE: SOGP.L - news) capital hike (Expansion)
-Corp Dermoestetica's closure of Italy ops to cost 12.6 mln euros (Cinco Dias)
-Vocento (Madrid: VOC.MC - news) chairman, CEO say have support of shareholders with over 50 percent of capital (Expansion)
LATE CORPORATE NEWS
-Gas Natural Q1 net 335.8 mln eur vs 304.7 mln
-Gas Natural Q1 EBITDA 725.9 mln eur vs 629.1 mln
-Grupo Marsans to sell 37 pct of Aerolineas Argentinas due to govt pressure
-CMT says Telefonica (Madrid: TEF.MC - news) will have to share fibre optic broadband network
-Altadis (Madrid: ALT.MC - news) to de-list Logista (Madrid: LOG.MC - news) from Spain stock exchanges
-Cintra (Madrid: CIN.MC - news) to refinance 17.3 pct of 9.270 bln euro total debt between 2008 to 2010
-Acciona Energy to build 2 thermal solar plants in Spain for nearly 500 mln euros
-Sacyr to propose 1-for-14 bonus issue to shareholders at June AGM
MARKET SENTIMENT
-The broad market is expected to open lower in cautious trade, with little to inspire investors amid soaring oil prices.
-Enagas is likely to be in focus after Negocio's rumour column reported a savings bank fund could be looking to buy up to 3 percent of the gas transporter.
-Elsewhere in the energy sector, Iberdrola (Madrid: IBE.MC - news) will also be in the limelight ahead of today's deadline for presenting bids for British Energy (LSE: BGY.L - news) , although El Mundo reported that the deadline could be extended. Speculation is rife that Iberdrola could team up with another energy giant for the bid, namely Centrica (LSE: CNA.L - news) , or even abandon plans to buy Energy East to focus on the UK market.
Investors will also be looking for any comments from Gas Natural (Madrid: GAS.MC - news) management at a results conference call on the ongoing M&A talk in the sector and the gas group's role, with an Iberdrola-Gas Natural tie-up still being touted.
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