Bloomberg News

SPAIN DAYBOOK: Repsol Seeks Probe On Share Moves; Salgado Speaks

October 05, 2011

Repsol YPF SA (REP) asked Spain’s stock market regulator to investigate trading in the oil company’s shares over the last two months, according to a person familiar with the situation.

WHAT TO WATCH: *Finance Minister Elena Salgado will be interviewed by Onda Cero at 9 a.m. CET. *Socialist candidate Alfredo Perez Rubalcaba is interviewed on Telecinco at 8:30 a.m. and speaks to reporters at 1:30 p.m. *Soraya Saenz de Santamaria, the People’s Party’s parliamentary spokeswoman, speaks in Madrid at 9 a.m.

ECONOMY: *Markit Economics publishes Spanish services PMI for September at 9:15 a.m. *Spain’s pharmaceutical lobby is negotiating with authorities a plan to sell state-guaranteed securities backed by 5.4 billion euros ($7.1 billion) of unpaid drug bills, Farmaindustria Director General Humberto Arnes said yesterday in an interview. *Madrid teachers strike for a fifth day, following walkouts against budget cuts yesterday and on Sept. 20 through Sept. 22. *Italy’s credit rating was cut by Moody’s Investors Service for the first time in almost two decades. The grade was cut to A2 from Aa2.

EQUITIES: *Repsol YPF SA (YPFD) asked the CNMV to investigate trading in the oil company’s shares in August and September saying volumes were unusually high, according to a person familiar with the situation. A spokeswoman for the CNMV confirmed the agency received a letter from the nation’s largest oil company. *Spanish savings banks Unicaja, Novacaixagalicia and BMN asked Sacyr Vallehermoso SA (SYV) Chairman Luis Del Rivero for a detailed plan to refinance the loan it took to buy 20 percent of Repsol YPF SA and to raise 1.5 billion euros ($2 billion), El Mundo reported.

MARKETS: *The IBEX 35 Index dropped 1.5 percent to 8,225. *The spread between Spanish and German 10-year borrowing costs widened to 337 basis points.

To contact the editor responsible for this story: Emma Ross-Thomas at

Toyota's Hydrogen Man
blog comments powered by Disqus