Madrid shares AFX at a glance outlook |
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Published
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Tue, 30 Jan 2007 09:02
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MADRID (AFX) - Shares are expected to open to open lower after a mixed session on Wall Street, and ahead of today's FOMC meeting, dealers said.Yesterday, the IBEX-35 index closed up 91.6 points at 14,507.0, after trading in a range of 14,391-14,512, on volume of 4.4 bln eur.The February future on the IBEX-35 index closed at 14,520.0, up from 14,429 Friday, on around 10,959 contracts.FORTHCOMING EVENTSTODAY-Mexico President Felipe Calderon meets Spanish Prime Minister Jose Luis Rodriguez Zapatero (1.00 pm)TOMORROW-BBVA FY results. Analysts' conference (9.30 am). Net profit forecast: 4.380-4.727 bln eur vs 3.806 bln-Bank of Spain forum on economy (Barcelona)ALSO EXPECTED-Gas Natural board to meet to discuss Endesa bidTODAY'S PRESS-Acciona reiterates to SEC intention to sell Endesa stake if E.ON bid wins majority acceptance (El Mundo)-Spain's opposition party calls on Caja Madrid not to sell Endesa stake to E.ON (Cinco Dias)-Bolivia's Morales eyes nationalizing telecom operator Entel (Cinco Dias)-Repsol YPF finalises sales of real estate worth 160 mln eur (Cinco Dias)-Endesa close to signing 15-yr power supply contract worth 1-1.5 bln eur/yr (Expansion)-Spain risk capital firm Torreal, group of investors buys US' Laureate Education for 2.9 mln eur (La Gaceta de los Negocios)-Spain's Globalia targets expansion in real estate operations (La Gaceta de los Negocios, Cinco Dias)LATE CORPORATE NEWS-Bank of Portugal would block La Caixa's BPI stake hike if 'sound' mgt threatened-Endesa says confidentiality pact with E.ON is within Spanish law-Telefonica wins 4-yr voice, data, internet contract with local Madrid govt-BBVA raised to 'overweight' vs 'equalweight' at Morgan Stanley-BCP signs agreements with Santander, BCP Pension to buy 10.5 pct of BPIMARKET COMMENT-The broad market is expected to open lower, after a mixed showing on Wall Street overnight, with investors erring on the side of caution ahead of the outcome of the FOMC meeting.-BBVA could outperform after Morgan Stanley raised its stance and target price on the bank. Dealers noted, however, that news Bolivia is mulling the nationalisation of Entel, in which BBVA and Zurich capital pension funds hold 44 pct, could weigh on sentiment to some degree.-Peer SCH will also be under the spotlight after announcing capital gains of some 88 mln eur from the sale of its stake in BPI to BCP.-Sacyr and Repsol YPF will be in focus amid commments in a rumour column that the constructor is eyeing launching a partial bid for the oil company, in which it holds about 20 pct.-Amongst small caps, Mecalux may move lower after Citigroup downgraded the stock to 'hold' from 'buy' claiming that while the company's 'long-term story remains intact,' a lack of visibility means it's 'time for a breather.'afxmadrid@afxnews.comped/jdy/icCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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