Company Overview ENI is one of the ten largest oil companies in the world by market capitalization (€63.805 billion). Its main divisions are: (i) Upstream (exploration and production, accounting for 26.5% of sales’11 and 79% of EBIT’11), (ii) Downstream (refining, 46.7% of sales’11, EBIT’11 negative), with a refining capacity of 0.708 M bbl / d and [...]
All posts by thecorner.eu team
A euro breakup would hurt Germany more than anyone else
By Luis Arroyo, in Madrid | We either reinforce the political union in the European Monetary Union or let the monster simply die away. These are the actual choices we have, and one must admit that a euro termination does not sound as the craziest option, not after four years of unstoppable recession and walking [...]
Is Spain’s risk premium being exaggerated? Yes, say the big companies
By Julia Pastor, in Madrid | Report and counter-report, this seems to be the general trend in talking about the Spanish economy’s health. Wednesday it was the CEEC’s occasion to present a report. The nation-wide competitiveness council integrated by presidents of the big Spanish multinationals assured that “expected losses in the the banking sector are [...]
Ferrovial consortium wins Ontario’s Highway 407 East contract
MADRID | Spain’s Ferrovial announced Wednesday that its subsidiary Cintra Infraestructuras, in a 50% consortium with SNC-Lavalin, was awarded the €78-million contract for the first phase of the Highway 407 East project in Ontario, Canada. The group was appointed by Infrastructure Ontario and the Ontario Ministry of Transportation. Phase one of the new highway will extend [...]
Most of the Ibex 35 vulnerable to takeovers were not for the euro crisis
By Carlos DÃaz Guell, in Madrid | May 15, in Madrid, was bank holiday in commemoration of its saint patron San Isidro. But the stock market was opened. The IBEX 35 closed that session at 6,700 points, ranking at September 2003 levels. Drawing on the daily exchange rate of that day, the drop so far this year (fall, thud, even crash if the [...]
Danish Greentech’s voluntary takeover bid on Fersa enters acceptance phase
BARCELONA | The Spanish financial markets regulator CNMV admitted Copenhagen-based Greentech’s voluntary cash tender offer on all ordinary shares of Fersa. Greentech had submitted last Friday its prospectus to the CNMV for its voluntary public offer of acquisition of 100% of Fersa, offering €0.40 in cash for each Fersa share. By submitting the prospectus and legal [...]
Goldman Sachs forecasts 50pc price increase for Santander, BBVA
MADRID | Finance daily newspaper Expansion reported Tuesday that investment bank Goldman Sachs expects Santander and BBVA stock price to go up by 50 percent, according to an analysts’ note. The confidence of Goldman Sachs experts goes far beyond the two big Spanish banks, too. All medium-sized banks in Spain had their ratings updated with higher value, apart from Bankinter, whose share [...]
Deutsche Bank issues its first €15 billion in bonds, mortgage notes in Spain
MADRID |Deutsche Bank changed its financing strategy by registering a fixed income prospectus in Spain for the first time in history, as reported by the Spanish journal Expansión. The German entity will issue mainly bonds and mortgage notes for an amount of €15 billion, according to the initial information document, which has been sent to the [...]
European fiscal union? Eurobonds? Good luck convincing Germany
Luis Arroyo, in Madrid | It’s the talk of the town. The euro zone desperately needs to become a fiscal union and, voilà , everything will be sorted. But I wonder: how do we get there? Have a look at the chart below, which reflects fiscal pressure levels in core Europe economies and in some of the [...]
Spain’s blue chips top European 10 companies’ ranking by dividend yield
By Luis Torralba, in Valencia | Telefónica, Banco Santander, Iberdrola, BBVA and Repsol, that is, the so-called Spanish ‘blue chips’ or front line corporations ​​are currently all placed among the top ten Euro Stoxx50 stocks by dividend yield. This is quite an interesting piece of information to bear in mind when allocating capital, because it is one [...]
