Spanish stocks - Factors to watch on Tuesday

MADRID, July 22 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Tuesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

ACERINOX (ACX.MC)

The steelmaker expects stainless steel demand to pick up in September, it said on Monday after reporting a 62 percent tumble in first-half net profit due to weaker base metal prices.

For a story, click on [ID:nL21817341]

TELEFONICA (TEF.MC)

The telecoms giant said it had cancelled 68.5 million of its own shares after buying back the stock, mostly last year.

For a story, click on [ID:nL21824399]

ACS (ACS.MC), UNION FENOSA UNF.MC

France's Suez LYOE.PA and Italian gas group Eni (ENI.MI) are seen as being interested in ACS' 45 percent stake in Union Fenosa, El Economista reported, citing unnamed sources.

ABC said ACS could spin off its gas business and sell it to ENI while Expansion also said the gas and renewables units could be split off and sold separately.

On Monday, sources close to the deal said the sale of ACS's Union Fenosa stake would begin this week, and should close in the first half of September.

CAJA MADRID

The Spanish savings bank said it has agreed to buy the outstanding 60 percent of Mexican mortgage group Su Casita for $342 million.

BROADCASTERS

Investment in Spain's advertising market fell 6.5 percent in the first half of the year compared with a 9.3 percent rise a year earlier, Cinco Dias reported.

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