May 8, 2013 / 5:16 AM / 4 years ago

Spanish stocks - Factors to watch on Wednesday

MADRID, May 8 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Wednesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

TELEFONICA

Telefonica, Europe’s largest telecoms provider by revenue, reported a 9 percent drop year-on-year in first quarter revenues to 14.1 billion euros ($18.5 billion) on Wednesday, in line with analyst expectations.

BANKS

The Bank of Spain estimates that Spanish banks have a total of 88 billion euros of restructured loans that have not been provisioned, Expansion reported on Wednesday.

Separately, Spain’s bank restructuring fund FROB is studying speeding up the sale of nationalised lenders CatalunyaBanc and Novagalicia after a downbeat report from consultancy McKinsey, El Pais reported without naming sources.

BANKIA, IAG

Qatar has approached International Airlines Group, the owner of British Airways and Iberia, with an informal offer to become the company’s largest shareholder by buying the 12 percent stake held by Spain’s nationalised lender Bankia, the Financial Times reported.

MEDIASET ESPANA

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