RPT Madrid shares TFN at a glance outlook

RPT Madrid shares TFN at a glance outlook

	Published : Wed, 12 Sep 2007 07:44 By : Agencies Print this Story

(Repeating to clarify Santander Investor Day is tomorrow)

MADRID (Thomson Financial) - Shares are expected to open lower as profit taking in the wake of strong gains yesterday weighs, although a buoyant session on Wall Street could limit losses.

Yesterday, the IBEX-35 index closed up 239.20 points at 13,965.50, after trading in a range of 13,775-13,991.

FORTHCOMING EVENTS

TODAY

-Riofisa EGM

TOMORROW

-Santander Investor's (first day)

TODAY'S PRESS

-Autogrill may exercise option to buy Aldeasa after Imperial-Altadis merger (El Economista)

-CVC puts Altadis bid on hold until October (Gaceta de los Negocios)

-Industry Ministry to invest nuclear decommissioning fund in renewables (Cinco Dias)

-Telefonica to offer HP smartphone through Movistar outlets (Cinco Dias)

-Repsol seeking to sell 10 pct CLH stake for 350 mln eur (Expansion)

-Astroc and Aisa meet today to finalise merger (Gaceta de los Negocios)

-Acciona eyes solar technology projects in Taiwan (Gaceta de los Negocios)

-OHL wins 60.5 mln eur motorway contract (Gaceta de los Negocios)

-Spain govt would veto hostile bids on Amper (Negocio)

-Vocento mulls partner for restructured internet, digital TV businesses (El Confidencial)

LATE CORPORATE NEWS

-Banco Popular cancels plans for almost 2 bln eur mortgage-backed bond issue

-OHL to begin share buyback of 1.5 pct of capital for directors' options plan

-Iberdrola denies takeover bid for EDP - Portuguese stock market regulator

MARKET SENTIMENT

The broad market is expected to open lower on profit taking though a strong session on Wall Street overnight will provide support.

-Telefonica will be in focus amid expectations Brazilian telecommunications authority Anatel will rule today on the sale of a stake in Telecom Italia SpA to Telco, a holding company in which the Spanish group has a 42.3 pct stake.

-Sogecable will also be under scrutiny with investors mulling the possibility its Audiovisual Sport unit and Mediapro may meet today to discuss football broadcasting rights.

-BBVA could see high demand after Lehman Brothers reinitiated coverage with an 'overweight' rating highlighting upside potential of 38 pct.

tfn.europemadrid@thomson.com

jdy/ra

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