May 7, 2020 / 6:28 AM / 18 days ago

Spanish stocks - Factors to watch on May 7

May 7 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Thursday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

TELEFONICA

Liberty Global has agreed to merge its Virgin Media cable company with the O2 mobile business owned by Spain’s Telefonica to create a major new force in the British telecoms market.

Telefonica reported first quarter net profit of 406 million euros down from 926 million euros year ago.

The company also said that, due to significant changes in the guidance scenario and uncertainty, it withdrew its 2020 financial guidance.

IAG

The company said Luis Gallego will succeed Willie Walsh as Group chief executive on September 24.

NATURGY

The company said it would implement a buy-back programme for its employees in Spain who choose to have part of salary paid in shares rather than in cash by 2020.

IBERDROLA

The Spanish utility said it had reached agreement to buy Aalto power, owner of on-shore wind farm assets and projects in France.

TALGO

The company posted a first quarter net profit of 4.9 million euros down from 7.1 million euros a year ago and said the furlough for 313 maintenance employees in Spain would be extended until activity resume to normal level.

NEINOR HOMES

The company posted a first quarter net profit of 3.9 million euros up from 2.3 million euros a year ago.

It also reported 353 pre-sales in first quarter for a cumulative total of 2,834 units (worth about 930 million euros).

ALBA, BME

The company said it accepted the offer by Six Group for Alba’s 12.06% stake in BME.

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