IBERDROLA: Power company has overtaken Santander as Spanish stock exchange’s most-traded company
Energy giant FOR the first time in four years, Iberdrola has overtaken Banco Santander to become the Spanish stock exchange’s most-traded company in daily volume, according to Bloomberg. By October this year, the power company had achieved a daily average of €136.3 million, compared with Santander’s average of €130.8 million, and ahead of BBVA in third place with €115.4 million.
Oil up BP and Shell added £14 billion (€16.7 billion) to their combined market value as oil prices rose and their shares shot up when crude prices soared by 13 per cent after Iran fired missiles on Israel. Oil trading at below $70 ($64) a barrel before the October 7 attack had risen to $79 (€72.2) by the following day.
Hacked about TENDAM, which owns the Cortefiel and Springfield labels, warned that hackers possibly accessed their loyalty-card holders’ details during a cyberattack on September 5. Although the attack would have revealed names, addresses, ID and phone numbers, no credit card numbers or passwords were compromised.
New start NET-A-PORTER, the fashion website founded by Natalie Massenet which merged with Italian firm Yoox in 2015 and is now owned by Swiss company Richemont, has been sold. It was bought by German company Mytheresa although , Richemont will receive a 33 per cent holding in Mytheresa instead of cash.
Record year SPAIN’S tourism sector expects a 5.2 per cent increase in sales during the last quarter of 2024, while Exceltur, a group composed of the chairmen of 30 leading tourist companies, predicted revenues of €200 billion for the year. This will account for 13.4 per cent of Spain’s gross domestic product, Exceltur pointed out.
Pay up THE Water Services Regulation Authority (Ofwat) ordered water companies in England and Wales to return £157.6 million (€188.2 million) to customers to compensate for their poor performance. Rebates will be calculated in December and the money deducted bills sent to households and businesses in 2025-2026, Ofwat said.
Offer accepted THE Spanish government gave unconditional authorisation to a takeover bid from Italian company Esseco for Valencia-based chemicals company, Ercros, on October 8. The offer of €3.745 per share, down from an earlier €3.84, gives the company a value of more than €300 million.
Shein boom THE UK arm of fast-fashion retailer Shein, founded in China, saw sales rise by approximately 40 per cent to £1.5 billion (€1.8) billion in 2023. The company, currently considering a £50 billion (€59.9 billion) London float, doubled its pre-tax profits to £24.4 million (€29.2 million) and paid £5.7 million (€6.8 million) in income tax.
Impulse buy The Saudi Public Investment Fund (PIF) has paid an undisclosed sum to buy its latest high-profile British acquisition, a 40 per cent holding in iconic but loss-making Selfridges. The stake was sold by the Austrian property company, Signa Group.
