October 16, 2012 / 6:26 AM / 5 years ago

Spanish stocks - Factors to watch on Tuesday

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:


Ratings agency S&P’s lowered long-term debt rating of 11 of Spain’s banks and the short-term rating of four others on Tuesday following the downgrade of the Spanish sovereign on Friday.


Spain’s Treasury will sell between 3.5 billion and 4.5 billion euros of 12- and 18-month T-bills on Tuesday, in the latest test of investors’ appetite for Spanish paper amid increasing pressure on Madrid to request international aid.


Telefonica plans to list 23 percent of its O2-branded German unit at between 5.25 euros and 6.50 euros per share, the Spanish telecoms group said on Tuesday, valuing the stake at about 1.52 billion euros.


Spain’s competition watchdog and energy regulator urged increased competition in the country’s petrol market in two reports on Monday that warned of high distribution margins among the sector’s three main players. British oil major BP and Spain’s Repsol and Cepsa control the country’s national fuel production.


S&P cut the long-term debt rating of Spanish insurer Mapfre to BBB+ from A- on Monday following the sovereign rating cut on Friday.


S&P cut REE ratings to BBB-/A-2, puts Iberdrola rating on watch negative, revised Endesa outlook to negative from stable.


British utility Scottish Power, a subsidiary of Spain’s Iberdrola, said on Monday it will raise retail gas and electricity prices by 7 percent on average from Dec. 3

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