MADRID (Thomson Financial) - Share prices are expected to open higher after a rally in U.S. markets and in Asia, while trade will be cautious as high oil prices continue to weigh on sentiment and ahead of U.S. GDP data.
On Wednesday, the IBEX-35 index closed up 47.80 points at 13,499.20, after trading in a range of 13,397.90 to 13,598.80.
FORTHCOMING EVENTS
THURSDAY
-Spain's May Provisional HICP
-Iberia AGM. Press conference (10:30 a.m.)
-Gamesa Press conference (Bilbao at 9:30 a.m.)
FRIDAY
-Gamesa AGM
-Fluidra AGM (Barcelona at 12:00 p.m.)
THURDAY'S PRESS
-Iberia, Lara family to share control in merged Clickair-Vueling group (Cinco Dias)
-Iberdrola tells investors it will close Energy East acquisition end-June (Cinco Dias)
-Spain's CMT says may soften regulatory requirements for Telefonica's fibre optic network (Cinco Dias, Expansion)
-EDF has appealed ruling that it must disclose intentions for Iberdrola (El Economista)
-Spain's Solbes says govt may see budget deficit in 2009 (El Pais)
-BBVA issues 5 bln eur in mortgage-backed bonds (El Pais, El Economista)
-BBVA studies laying off 5,000 workers according to unions (Bolsacinco)
-Acciona to invest 460 mln euros in R&D to 2010 (El Economista)
-Disney Channel in Spain to be free via Digital Terrestrial Television (Wall Street Journal)
-Mediapro denies interest in making an offer for Sogecable's pay-TV unit (Negocio)
-Reyal Urbis rules out dividend payment for this year (Cinco Dias)
LATE CORPORATE NEWS
-3i Group still eyeing Spain for M&A opportunities, but market 'complicated'
-Cepsa merges chemical businesses into a single group
-Spainish govt could approve National Energy Plan Friday; seen boosting jobs
MARKET SENTIMENT
-Telefonica will be in focus after successfully issuing bonds for some 1.25 billion euros earmarked at refinancing debt in less than two hours Wednesday. Comments by Spain's telecom regulator that it intends to soften conditions on the group's fibre optic network will also lend support.
-Iberia will be watched closely ahead of its AGM Thursday, with a conference to be held at 10:30 a.m. Focus will be on comments on the Clickair-Vueling merger, the bid for Spanair and the group's plans for facing new rises in global fuel prices.
-Ence may see some support after Negocio's rumour column said that further price rises in global wood pulp are likely in the short term, and amid speculation of imminent M&A activity for its peers in Latin America.
-Iberdrola may see gains after UBS raised its stance to 'buy' from 'neutral'.
-Inditex will be in focus following Spain's April retail sales figures from the statistical institute at 9:00 a.m..
tfn.europemadrid@thomson.com ped/ejb COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
On Wednesday, the IBEX-35 index closed up 47.80 points at 13,499.20, after trading in a range of 13,397.90 to 13,598.80.
FORTHCOMING EVENTS
THURSDAY
-Spain's May Provisional HICP
-Iberia AGM. Press conference (10:30 a.m.)
-Gamesa Press conference (Bilbao at 9:30 a.m.)
FRIDAY
-Gamesa AGM
-Fluidra AGM (Barcelona at 12:00 p.m.)
THURDAY'S PRESS
-Iberia, Lara family to share control in merged Clickair-Vueling group (Cinco Dias)
-Iberdrola tells investors it will close Energy East acquisition end-June (Cinco Dias)
-Spain's CMT says may soften regulatory requirements for Telefonica's fibre optic network (Cinco Dias, Expansion)
-EDF has appealed ruling that it must disclose intentions for Iberdrola (El Economista)
-Spain's Solbes says govt may see budget deficit in 2009 (El Pais)
-BBVA issues 5 bln eur in mortgage-backed bonds (El Pais, El Economista)
-BBVA studies laying off 5,000 workers according to unions (Bolsacinco)
-Acciona to invest 460 mln euros in R&D to 2010 (El Economista)
-Disney Channel in Spain to be free via Digital Terrestrial Television (Wall Street Journal)
-Mediapro denies interest in making an offer for Sogecable's pay-TV unit (Negocio)
-Reyal Urbis rules out dividend payment for this year (Cinco Dias)
LATE CORPORATE NEWS
-3i Group still eyeing Spain for M&A opportunities, but market 'complicated'
-Cepsa merges chemical businesses into a single group
-Spainish govt could approve National Energy Plan Friday; seen boosting jobs
MARKET SENTIMENT
-Telefonica will be in focus after successfully issuing bonds for some 1.25 billion euros earmarked at refinancing debt in less than two hours Wednesday. Comments by Spain's telecom regulator that it intends to soften conditions on the group's fibre optic network will also lend support.
-Iberia will be watched closely ahead of its AGM Thursday, with a conference to be held at 10:30 a.m. Focus will be on comments on the Clickair-Vueling merger, the bid for Spanair and the group's plans for facing new rises in global fuel prices.
-Ence may see some support after Negocio's rumour column said that further price rises in global wood pulp are likely in the short term, and amid speculation of imminent M&A activity for its peers in Latin America.
-Iberdrola may see gains after UBS raised its stance to 'buy' from 'neutral'.
-Inditex will be in focus following Spain's April retail sales figures from the statistical institute at 9:00 a.m..
tfn.europemadrid@thomson.com ped/ejb COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.