April 28, 2020 / 6:20 AM / a month ago

Spanish stocks - Factors to watch on April 28

April 28 (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:

SANTANDER

Spain’s Santander posted an 82% year-on-year slump in quarterly net profit on Tuesday as it booked higher provisions for expected credit losses from the coronavirus outbreak. The euro zone’s second-largest bank by market value reported a profit of 331 million euros ($358.11 million) for the first quarter ended in March.

BBVA

German insurer Allianz has struck a deal to invest in the insurance business of BBVA, the companies said on Monday, confirming an earlier report by Reuters. Allianz will buy 50% plus one share of the joint venture for an initial 277 million euros.

INTERNATIONAL CONSOLIDATED AIRLINES

British Airways is planning to launch a consultation that could result in cutting about 800 of its 4,500 pilot jobs, a Sky News reporter tweeted on Monday.

IBERDROLA

Iberdrola is preparing to increase its presence in renewable energy in Mexico with an investment of 6 billion euros in the next ten years, Spanish newspaper El Economista reported on Tuesday. The company plans to reach 8,000 MW of installed capacity in 2030, from 1,000 MW now.

REALIA

Realia reported a first quarter net profit of 3.9 million euros compared to 5.0 million euros in the same period one year ago. The group said it took on provisions of 1.82 million euros as of March 31 to cover potential economic impact of COVID-19.

CODERE

The company said it will look for financing options to improve liquidity by raising about 100 million euros in the coming months.

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