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Spanish stocks-Factors to watch on Monday

Spanish stocks-Factors to watch on Monday

The following Spanish stocks may be affected by newspaper reports and other factors on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

The Spanish telecom group is considering making a bid for its Brazilian rival Oi and has hired an investment bank to advise it on buying some or all of the company, El Confidencial reported, citing sources close to the negotiation.

The wind turbine maker said on Monday it had started exclusive, non-binding negotiations with insolvent German peer Senvion to potentially buy selected assets. If talks succeed, Siemens Gamesa said it would take a binding decision within the next few weeks.

The Spanish firm added that any such transaction would have no financial impact on its 2019 accounts.

The supermarket operator posted a first-half net loss of 418.7 million euros versus a loss of 29.5 mllion euros in the same period of 2018, financial results released on Monday showed.

The pharmaceutical company appointed Mike McClellan as chief financial officer and said David Nieto had decided to step down.

The chief executive of Santander’s Spanish business said in an interview with Cinco Dias that, within a few years, Spain should contribute the same amount of profit to the company as Brazil currently does.

Algerian energy firm Sonatrach wants another Arab investor to buy part of the Medgaz pipeline between Algeria and Spain to avoid the Spanish gas firm securing a majority stake, Expansion reported without citing sources.

Berenberg cut its price target for the stock to 17 euros ($18.8) from 18 euros.

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