January 18, 2019 / 7:38 AM / 6 months ago

Spanish stocks - Factors to watch on Friday

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


French telecoms group Orange is considering a bid for its smaller Spanish competitor, a move which would consolidate its market position as number two in Spain, according to a source with knowledge of the situation.


The gaming company is considering raising more than 200 million euros ($228 million) in capital and increasing its free float on the stock market, Cinco Dias reported.

El Economista reported the company is planning to sell shares.


HSBC raised the stock to buy from hold and cut its price target to 1.42 euros from 1.55 euros.


The bank has asked the administrator in charge of selling its headquarters outside Madrid to investigate whether the fund that has bid for the property complies with various rules, El Pais reported without citing sources.


The facial recognition company said on Friday its net profit rose to 1.2 million euros in 2018 from 473,113 euros the year before.


The European Central Bank has expressed concerns over reports that the Spanish bank hired a former police chief in 2004 to spy on a would-be buyer and some of its officials have discussed it with the bank, a source with knowledge of the situation told Reuters.


The company said on Thursday it had formalised a credit agreement with its majority shareholder for up to 25 million euros.

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$1 = 0.8777 euros Editing by Susan Fenton

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