Castle Asia Share Discussion Threads

[grupo guitarlumber] 28/11/2007 14:20

Cordero Asado and Patatas a lo Pobre - Cuisine from Spain
By Ben Curtis
Last Updated: 12:01am GMT 28/11/2007

Have your say Read comments


Roast lamb and a lo pobre potatoes ... You don't get more Castillian than this! Although you can find cordero asado cooked in a similar way throughout Spain, the best is found around Segovia, Valladolid, and other parts of the Castilla-Leon area, where you still see shepherds wandering through the hills with their flocks.

Another reason not to miss this dish in these areas is that it is usually cooked in a wood-fired oven (horno de leña), bringing even more flavour to the dish.

Ingredients 2 Kg (4 pounds) of good organic lamb (we used leg here) 6 to 8 garlic cloves 3 tsp of thyme 6 bay leaves 2 tsp salt 2 tbsp olive oil

Preparation

The secret of the success of this recipe is to get very good quality meat, organic if possible, and then cook it very slowly in the oven.

Preheat the oven for 30 minutes at 200ºC/390ºF. When the oven is ready, make three or frour cuts in the meat (look at the picture above) and insert an unpeeled garlic clove and a bay leaf into each of them.

Then rub the lamb with the rock salt, thyme and the olive oil before sticking it in the oven. After 5 minutes pour a glass of water over the meat.

Keep it at this temperature for 5 more minutes and then turn the oven down to a slower setting, about 160ºC/320ºF.

Leave it at this temperature for at least 1h and 30 minutes. After this time check with a fork or a knife that the meat is cooked in the middle - if it still seems a little red, leave it for a while longer.




Tip 1

Note that I've used leg this time but it would be fine to use shoulder.

Tip 2

If you are Spain it is fine to buy leg or shoulder of either Lechal or Recental lamb, as explained in the podcast.

If you ask the butcher to prepare it for roasting he will make two or three cuts down to the middle of the bone, so the meat cooks better in the middle. Note that if the meat has no cuts, or the piece is heavier, cooking times will be longer.

This first appeared on 'Notes from Spain', website, www.notesfromspain.com.



Patatas a lo Pobre

Ingredients

5 Medium Potatos

3 Onions

2 Green peppers

8 garlic cloves

2 tsp salt

15 tbsp olive oil

1 dessert spoon of vinager

Preparation

Start by peeling the potatos and the onions, slice them thinly width-wise and place them into a bowl. Roughly chop up the green peppers, carefully removing all the seeds, and place them in the bowl together with the potatoes and the onion.

Add the salt slowly while you gently mix the potato and these other ingredients with your hands. Now select a large, and preferably deep, frying pan. Note that a wok will do the task very well.

If you don't have a large frying pan you might need to cook this dish using two frying pans. Pour all the oil into the frying pan and allow it to get hot. When it starts to smoke add the potatoes, onions, peppers and the bay leaves.

During the whole cooking process you need to stir the mixture with a wooden spoon regularly (every minute) so it does not stick to the bottom.

Note that some of the potatoes will break into smaller pieces - this really does not matter as this dish is more about taste. Keep cooking at a high setting for about 10 minutes, and then turn the hob to a medium setting and add the garlic, which has been previously peeled and thinly sliced.

After 20 more minutes try one potato to check if it is cooked. If so, turn off the hob and remove the excess oil using a colander.

Put the mixture back into the frying pan and add the vinager while stiring the mixture for a few seconds.

Tip 1

Serve this as a side dish for any roast meat

Tip 2

This recipe requires large quantities of oil. If olive oil is difficult or expensive to get in your area you can easyly substitute it for sunflower oil, or any vegetable oil available in your area.

[grupo guitarlumber] 30/10/2007 07:20

Madrid shares TFN at a glance outlook
Date : 30/10/2007 @ 07:16
Source : TFN


Madrid shares TFN at a glance outlook




MADRID (Thomson Financial) - Shares are expected to open little changed as
the weak US futures offset overnight gains in Wall Street, with many players
sidelined ahead of the FOMC's interest rate decision expected tomorrow.
Yesterday, the IBEX-35 index ended up 134.20 points at 15,738.10, after
trading in a range of 15,680-15,775.

FORTHCOMING EVENTS
TODAY
-Antena 3 9-mth results, conference call (4.30 pm). Net profit forecast
135.6-139.9 mln eur vs 216.2 mln
-ACS 9-mth results, due after the close.

TOMORROW
-Swimming pool manufacturer Fluidra market debut
-Telecinco Q3 results. Conference Call (6.30 pm). Net profit forecast
251-268 mln eur vs 229.3 mln
-Ebro Puleva Q3 results
-Mapfre Q3 results
-Enagas EGM (noon)

TODAY'S PRESS
-ACS to increase Fenosa stake to 46 pct vs 40 in short term (Expansion)
-ACS's Urbaser eyes several stakes in India projects (El Economista)
-Metrovacesa puts 92 Madrid buildings up for auction (Cinco Dias)
-Spain's Costa says regulator no longer against gas, electricity mergers (La
Vanguardia)
-Popular creates innovation arm to address new banking trends (Expansion)
-Spain's Barcelo buys 49 pct of US' Apple Leisure (Cinco Dias)

LATE CORPORATE NEWS
-BME 9 MTHS NET 150.6 MLN EUR, UP 63.4 PCT
-BME 9 MTHS REVENUES 281.8 MLN EUR, UP 38.1 PCT
-Jazztel, Orange to offer virtual mobile phone services in Q1 2008
-State Street Bank raises Telecinco stake to 7.897 pct vs 4.967
-Cepsa acquires 80 pct of exploration, production contract from Loon in Peru
-Grifols approves 400 mln eur investment plan for 2008-12
-OHL acquires additional 382,049 shares as treasury stock for about 11 mln
eur
-Czech Telefonica to focus on domestic growth, doesn't rule out acquisitions
-Avanzit, Mio Technology reach accord on use of Navento application in Mio
PDAs
-Iberdrola's Renovables acquires 4 wind farms in Hungary for 155 mln eur
-Intesa Sanpaolo declines to comment on Telefonica stance in Telecom Italia

MARKET SENTIMENT
-Fenosa could benefit from a report in Expansion that ACS is planning to
increase its stake in the utility to 46 pct from just over 40 pct in the short
term.
-BME is likely to gain after reporting solid nine month results, with
ongoing bid speculation after Negocio's rumour column tipped Deutsche Borse as
eyeing the Spanish stock market operator also adding support.
-Antena 3 will be eyed ahead of its nine month figures due before the market
opens.
[e-mail]
tr/hjp

[grupo guitarlumber] 24/10/2007 07:42

Morocco's king calls for an 'advanced status' with EU; calls on French help
Date : 24/10/2007 @ 07:25
Source : TFN


Morocco's king calls for an 'advanced status' with EU; calls on French help




MARRAKESH (Thomson Financial) - King Mohammed VI of Morocco said his country
wants an "advanced status" with the European Union, and called upon France to
help push its European partners to grant his north African country closer ties.
"The European Union's policy towards its neighbours has reinforced Morocco
aspirations for an advanced status giving its relations with the Union the
strategic dimension they deserve," Mohammed VI said at a state dinner yesterday
in honour of visiting French President Nicolas Sarkozy.
The king said Morocco's desire for closer EU ties "has always been supported
by the constant engagement of France within EU institutions and we are convinced
the next French presidency of the European Union will provide an active
contribution to that goal."
France takes over the six-month rotating EU presidency in July 2008.
In his toast Sarkozy told Mohammed VI he "can count on France for starting
brief negotiations on advanced status" with the European Union.
Morocco repeatedly asks for "advanced status" as an EU partner and European
Foreign Relations Commissioner Benita Fererro-Waldner said last year that
Brussels was considering the request.
Rabat signed an association agreement with the European Union in 1996. It
also has free trade agreements with Turkey and the US.
In 1995, the European Union unveiled plans for a close political and
socioeconomic partnership with 10 countries bordering the Mediterranean Sea,
from Morocco to Turkey via Israel.
But the Euro-Mediterranean process has been sluggish. The partners have
disagreed over the definition of terrorism and how to solve the Middle East
conflict, with Israel staunchly opposing any joint declaration on the peace
process.
A proposal in 2005 to establish a free trade zone between the Euromed
partners, who together comprise some 700 million consumers, has been dismissed
by experts as unrealistic.
[e-mail]
afp/slj

[grupo guitarlumber] 24/10/2007 06:16

Sarkozy says France will help Morocco develop nuclear power




MARRAKESH, Morocco (Thomson Financial) - French President Nicolas Sarkozy
said he has agreed to work with Morocco to develop nuclear power in the country.
"We have decided to launch another major project, that of civilian nuclear
power," Sarkozy said at an official dinner during his state visit to Morocco.
He said he and Moroccan King Mohammed VI have assigned two of their advisors
to oversee the project.
Sarkozy announced earlier this week the signature of 3 bln eur worth of
contracts with Morocco, headed by the development of a high-speed train line
that will bring orders for Alstom -- which manufactures the high-speed TGV train
--, as well as French rail operator SNCF and network manager RFF.

[e-mail]
gt/cmr

[grupo guitarlumber] 23/10/2007 15:10

Areva France's Sarkozy says Morocco contracts worth 3 bln eur; Dassault misses out




RABAT (Thomson Financial) - French president Nicolas Sarkozy told reporters
that contracts signed yesterday with Morocco are worth a total of 3 bln eur, but
confirmed that France had failed to win an order for the Rafale fighter jets
made by Dassault Aviation.
"It was not all success," Sarkozy said regarding his attempts to persuade
Morocco to buy the Rafale planes rather than the American F16.
The value of the contracts signed by France was initially reported yesterday
as being worth over 2 bln eur.
The contracts included several deals for engineering group Alstom.
The biggest single project is for the development of a high-speed train line
between Tangiers and Casablanca, with about half of the estimated construction
cost of 2 bln eur to be shared by Alstom -- which makes the high-speed TGV train
--, French rail operator SNCF and network manager RFF.
Alstom announced two other contracts, a 75 mln eur order for 20 Prima
locomotives and a 200 mln eur deal to develop a power plant using combined gas
and solar power technology.
Other orders secured by France include a contract for FREMM multipurpose
frigates, which the Moroccan press put at 500 mln eur, and a draft agreement
between Areva and Morocco's OCP for the extraction of uranium from Moroccan
phosphate acid.

[e-mail]
gt/slj

[grupo guitarlumber] 23/10/2007 07:50

Areva, Morocco's OCP sign uranium mining agreement




PARIS (Thomson Financial) - Anne Lauvergeon, chief executive of Areva, and
Mustafa Terrab, CEO of the Office Cherifien des Phosphates, a Moroccan
conglomerate of mining and chemical industries, have signed an agreement to
develop their cooperation in uranium mining, the French nuclear energy giant
said.
Phosphates are a promising source of uranium and IAEA (International Atomic
Energy Agency) figures put Morocco's uranium resources in phosphate deposits at
around 6 mln tons, which corresponds to twice the worlds resources in uranium
deposits, the company said.
Areva and the OCP plan to launch a joint study into the feasibility of an
industrial site producing uranium from phosphoric acid.
The signing coincided with a state visit to Morocco by French President
Nicolas Sarkozy and the agreement covers extraction of uranium contained in
phosphoric acid manufactured using Moroccan phosphate ore.
Areva and the OCP hope this agreement will add an industrial dimension to
their scientific cooperation, which dates back to 2005.

[e-mail]
an/slj

[grupo guitarlumber] 22/10/2007 10:44

Ireland, Spain to suffer more from housing, construction slowdown than UK - S&P
Date : 22/10/2007 @ 10:38
Source : TFN


Ireland, Spain to suffer more from housing, construction slowdown than UK - S&P




MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services has said the
correction in the economies of Ireland, Spain and the UK, rated 'AAA' and 'A-1+'
with a stable outlook, as a result of the downturn in the housing market and
related construction sector slowdown, could be protracted.
"The slowdown will hit economic growth in these three sovereigns to varying
degrees," S&P's credit analyst Trevor Cullinan said.
S&P said Ireland and Spain will take the most significant direct hits, while
the UK's more diversified economy, which is currently experiencing a less stark
moderation in house price and construction sector growth, should weather the
storm to a greater degree.
The ratings agency added all three sovereigns will experience worsening
fiscal positions, based on an assumption of unchanged spending plans, given - as
it believes - that property-related revenues have passed their peak.
[e-mail]
rsh/man

[waldron] 19/10/2007 07:54

From The TimesOctober 19, 2007

Gloom for Britons as Spain's property boom endsThomas Catan in Madrid
A decade-long boom for the property market in Spain has ended, with prices falling for the first time in many parts of the country, new figures show.

In the country as a whole, prices inched up by just 0.3 per cent in the third quarter of the year, the smallest rise since 2000. But prices fell in 13 of Spain's 50 provinces, including many popular with British homeowners.

Prices fell by 1.1 per cent in Valencia and 0.3 per cent in Alicante, where hundreds of thousands of Britons own homes. Other areas where Britons have moved in recent years have also fallen, including Jaén (0.7 per cent) and Cádiz (0.4 per cent).

They dropped by as much as 3.2 per cent in Navarre, in the rainy north of Spain. More than 1 million Britons are thought to live most or all of the year in Spain and many others have invested in property near the shore.

This week, the International Monetary Fund gave warning that the slide in house prices could turn into a rout in countries such as Spain, the UK and Ireland. Spain is viewed as being particularly at risk from a downturn. Like Britain, property prices have soared, doubling between 2001 and the end of 2006 and rising by nearly 60 per cent in the past two years alone, according to figures from Halifax, the bank.

But while the UK has barely expanded its housing stock in the past decade, there has been a construction boom in Spain, with about 800,000 homes a year being built recently. Analysts believe there is demand for only about 500,000 of those. The boom has slowed to a crawl, hurting the construction sector. Spanish construction companies began 140,000 new homes between April and July, a 15 per cent drop compared with the year before.

The Spanish Government yesterday played down fears of a crash. Rafael Pacheco, the Housing Director, said the figures showed that Spain was experiencing a "gradual and gentle landing for house prices. You cannot speak of a crisis," he said.

[waldron] 14/10/2007 13:22

Part-ex deals for Spanish homes launched
Andrew Foxwell, Financial Mail
14 October 2007, 12:52pm
Part-exchange deals to help Britons who want to move to Spain will be launched this week by McInerney Homes.




Believed to be one of the first schemes of its kind, the proposal will allow homeowners to trade their properties in Britain for villas near Marbella.
About 160 British homeowners relocated to Spain each day. McInerney's proposals are aimed at providing speed and certainty for those wanting to emigrate.

Desmond O'Connor, managing director of McInerney Spain, said: 'In essence, McInerney undertakes to buy the seller's current property, leaving them free to sign for their new home.

'While the seller takes ownership of their new home in Spain, McInerney takes ownership of their old home. We have allocated a number of properties available in Spain specifically for this scheme.'

Part-exchange deals, which have been common for decades in the motor trade, have started to take off in Britain in recent months as the property market has slowed.

But a quick sale is likely to mean a lower price, even if the seller can avoid paying an agent's commission by dealing direct with the buyer.

[ariane] 02/10/2007 07:42

Madrid shares TFN at a glance outlook
Date : 02/10/2007 @ 07:40
Source : TFN


Madrid shares TFN at a glance outlook


MADRID (Thomson Financial) - Shares are expected to open higher after
overnight rallies in the US and Asia, with financial stocks leading as concerns
over the global credit crunch begin to wane.
Yesterday, the IBEX-35 index ended up 26.50 points at 14,603.00, after
trading in a range of 14,443-14,629.

FORTHCOMING EVENTS
TODAY
-Sept jobless (Labour Ministry)
-Secretary of State for the Economy David Vegara speaks at Economic
Journalists Association (10.00 am)
-Endesa temporarily leaves IBEX-35 index
-Deadline for subscribing to Santander financial note
-Criteria to fix maximum price for listing of retail tranche
TOMORROW
-Spain Sept services PMI
-Vodafone Spain CEO Francisco Roman speaks at Economic Journalists
Association (10.00 am)
-Telefonica's Viana-Baptista to give conference on group's strategy in Spain
(11.45 am)

TODAY'S PRESS
-Sacyr seeking to sell 33 pct Eiffage stake once Paris court battle ends
(elConfidencial.com)
-SAS seeks further bids for Spanair amid delays to Marsans deal (Negocio)
-Mutua Madrilena mulls imminent acquisition in insurance sector (El
Economista)
-Valencia property group Llanera files for bankruptcy (La Gaceta de los
Negcios, El Pais)
-Prisa to sell Bolivia daily 'El Nuevo Dia' (La Gaceta de los Negocios)
-PT, Abertis seek partner for TDT in Portugal (Diario Economico)

LATE CORPORATE NEWS
-Vueling lowers 2007 EBITDAR forecast to loss of up to 10 mln eur
-Spanish businessman Ruiz-Mateos says won't buy stake in Northern Rock
-Hesperia holds 25.088 pct in NH Hoteles
-Major Spanish banks to operate well in challenging environment - Fitch
-Suez, Criteria launch formal buyout of AGBAR at 27.65 eur/shr
-Iberia's Clickair to lead in passenger volume by end-Nov at El Prat - Cruz
-Telecinco September audience share rises to 21.1 pct vs 19.0 pct, retains
lead
-Impresa's SIC gets 23.9 pct share of Sept TV audiences, TVI gets 30.1 pct
-Telefonica, Yahoo sign agreement to offer oneSearch service on mobiles
-Sacyr unit wins Portugal train line contract for 27.8 mln eur
-Enel CEO sees 90 pct of Endesa shareholders accepting Enel-Acciona offer
-Endesa Chile to construct a 240 MW power station for 128.3 mln usd

MACROECONOMIC NEWS
-Spain September new car registrations 96,751 units vs 104,771

MARKET SENTIMENT
-The broad market is expected to open higher after the Dow Jones' new record
highs yesterday and a rally in Asia, with growing expectations for another
Federal Reserve rate cut in October lending further support.
"The market's going better, and I wouldn't rule out a short squeeze at some
stage today," a trader at a leading international investment bank said.
-Banks are likely to gain as investors took cold comfort from UBS and
Citigroup's profit-warnings yesterday, which at least gave some indication of
the extent of the impact of the credit crisis, thus removing an element of
uncertainty.
-Vueling will be in focus after cutting its full-year EBITDAR forecast late
yesterday. Trading in the airline's securities, which was suspended yesterday
ahead of the announcement, is expected to resume today.
-Vocento could see support after La Gaceta's rumour column tipped market
speculation that News Corporation may be interested in acquiring a stake,
specifically the group's ABC daily.
-Elsewhere, Grifols could also benefit as players tipped the blood plasma
company as one of the candidates to replace Endesa in the IBEX-35 index if the
utility is permanently removed.
[e-mail]
ped/tr/jdy/vs

[ariane] 25/9/2007 17:41

Madrid shares close sharply lower weighed by builders; Endesa gains UPDATE
Date : 25/09/2007 @ 17:38
Source : TFN


Madrid shares close sharply lower weighed by builders; Endesa gains UPDATE


(Updates with full report)
MADRID (Thomson Financial) - Share prices closed sharply lower, depressed by
a weak start on Wall Street after disappointing housing and consumer spending
data, with builders like ACS and Acciona bearing the brunt of the selling
pressure, while Endesa gained.
The IBEX-35 index ended down 182.80 points or 1.26 pct at 14,311.90, after
trading in the 14,224-14,446 range.
Equities opened lower after a weak close in the US, and moved further into
the red following a sharper-than-expected drop in Germany's IFO index.
Stocks extended losses over the afternoon, depressed by disappointing US
housing data and consumer spending data.
Builders led the slide, with ACS shedding 1.34 eur or 3.65 pct to 35.34, FCC
losing 2.0 or 3.47 pct to 55.60 and Ferrovial 0.95 lower at 57.45, while Acciona
dropped 7.25 or 3.78 pct to 184.50 on profit taking after yesterday's
outperformance.
Banks were also under pressure, with BBVA down 0.26 at 16.36, Popular off
0.19 at 11.83 and Bankinter 0.17 lower at 9.99, while Santander slipped 0.06 to
13.39.
Endesa outperformed the broad market, adding 0.07 to 40.04 after
shareholders gave the green light to lifting the 10 pct voting rights cap,
paving the way for Acciona and Enel's takeover bid.
Airline stocks were on offer, with Iberia dropping 0.11 or 3.27 pct to 3.25.
Earlier, Alitalia chairman said he expects to present to the board a
shortlist of potential buyers for the airline by Oct 10, which could take the
M&A limelight off the Spanish flagship.
Vueling fell 0.48 or 3.98 pct to 11.59 after a report that the airline may
once again cut its guidance targets for 2007 now that the summer season has
ended. Also, today four board members representing the original private equity
faction, including the chairman, resigned today.
Among other smaller caps, Tecnicas Reunidas added 0.90 to 48.68, after CA
Cheuvreux raised its stance to 'outperform 3' with a target price of 57 eur per
share.

[e-mail]
ccs/tr/ra

[ariane] 21/9/2007 08:11

RPT Madrid shares TFN at a glance outlook
Date : 21/09/2007 @ 08:08
Source : TFN


RPT Madrid shares TFN at a glance outlook


(repeating to amend headline on Mediapro)
MADRID (Thomson Financial) - Shares are expected to open lower after Wall
Street and Asian markets declined overnight, as concerns about the health of the
US economy continued to depress sentiment amid spiraling oil prices.
Yesterday, the IBEX-35 index ended down 67.70 points at 14,427, after
trading in the 14,342-14,458 range.

FORTHCOMING EVENTS
TODAY
-Avanzit chairman Javier Tallada holds news conference (1.00 pm)

TODAY'S PRESS
-GE to bid for Santander's Spain property assets worth 4.0 bln eur (El
Economista)
-Iberia studies giving short routes in Barajas to Clickair in 'low-cost' war
(El Economista)
-Mediapro launches new lefty daily "Publico" (El Economista)
-Spanish savings banks forecast liquidity crises to continue in 2008 (Cinco
Dias)
-CLH chairman dismisses importance of Repsol YPF selling stake (Cinco Dias)
-Telefonica, Nokia close to 'diplomatic crises' over 02 dispute (Cinco Dias)
-Repsol YPF joins Shell, Eni in Alaska exploration project (Negocio)
-BBVA not seen taking long to sell Gamesa, Hispasat stakes (Run Run rumour
column in La Gaceta de los Negocios)

LATE CORPORATE NEWS
-Spain's CNE rejects govt proposal to freeze domestic electricity tariffs in
Q4
-Codere says Spain bourse regulator on track for approving co's IPO
-Spain's CNE to meet with France, Portugal to create one regional energy
group
-Spain govt gives Galp green light to sell natural gas in Spain
-Criteria bourse listing indicative price range set at 5.0-6.75 eur/shr
-Ferrovial's plans for refinancing BAA debt 'very advanced', but in no hurry

MACROECONOMIC NEWS
-Spain Q2 labour costs up 3.9 pct year-on-year

MARKET SENTIMENT
-The broad market is expected to open lower on Wall Street and Asian
declines overnight, as the health of the US economy continues to cause concern
amid rising oil prices and the weak dollar.
-On specific stocks, Union Fenosa could outperform after an upgrade to 'buy'
from 'neutral' at Merrill Lynch.
-Elsewhere, Iberia will yet again be in focus after a report in La Stampa
Italian newspaper reported that Air France-KLM has submitted a preliminary
takeover offer for Alitalia, which could mean the French-Dutch airline no longer
has the Spanish flag carrier in its sights.
-Avanzit is expected to remain in the limelight, after closing up over 11
pct yesterday, on expectations of headline grabbing newsflow from its press
conference later today. Avanzit, whose chairman Javier Tallada is well known for
his corporate shuffling, has been tipped as eyeing Amper.
[e-mail]
ped/jdy/ccs/slj

[ariane] 20/9/2007 19:23

mortgages

Housing burdens
Sep 20th 2007
From Economist.com

A BIG variation exists in the burden of mortgage debt across Europe, according to a report by Morgan Stanley. Switzerland has the biggest mortgage book relative to its GDP. Britain and Denmark, where house prices have risen rapidly in the past decade, have seen their stock of home loans rise sharply. Indeed, mortgage debt is higher in these countries than in America. Ireland's burden is lower but has doubled since 2002. Debt ratios in France and Germany are around half the level of Britain, reflecting lower rates of home ownership.

[ariane] 20/9/2007 17:28

Madrid shares close lower amid profit taking, led by builders, financials UPDATE
Date : 20/09/2007 @ 17:24
Source : TFN


Madrid shares close lower amid profit taking, led by builders, financials UPDATE


(Updating with full report)
MADRID (Thomson Financial) - Share prices closed lower after yesterday's
surge, and after a warning from Federal Reserve chairman Ben Bernanke that the
US subprime mortgage market is in for further trouble, with banks and builders
once again under pressure, but BME outperformed.
The IBEX-35 index ended down 67.70 points or 0.47 pct at 14,427, after
trading in the 14,342-14,458 range.
Equities opened lower amid profit taking after yesterday's strong rally, and
remained in the doldrums over the morning in cautious trade ahead Bernanke's
speech.
Over the afternoon, shares came off lows but remained in the red after the
Fed chairman said that delinquencies and foreclosures in the subprime mortgage
market will further rise.
Banks gave up some of yesterday's gains, with Santander dropping 0.05 eur to
13.40, BBVA down 0.18 at 16.67, Banesto falling 0.29 or 2.17 to 13.06, and
Popular shedding 0.22 to 12.17.
Constructors also lost much of yesterday's momentum, Sacyr Vallehermoso
heading losses to drop 0.54 or 2.21 pct to 23.92, FCC down 0.20 at 57.75, and
OHL losing 0.73 or 2.84 pct to 24.97.
Ferrovial lost 1.25 or 2.09 pct to 58.50. Earlier, the builder's financial
director said the group is "very advanced" in restructuring its BAA unit's debt,
but did not specify a timetable for the securitisation, seen as a key catalyst
for the builder's stock price.
BME led the gainers to rise 1.32 or 3.41 pct to 40.00 amid sector M&A news
surrounding OMX, Nasdaq and Borse Dubai.
Sogecable outperformed, putting on 1.17 to 25.03 after AVS called a board
meeting for Sept 27 to discuss football rights battle.
Also among the session's gainers, Enagas added 0.26 to 18.10, after
Portugal's Jornal de Negocios cited REN CEO Jose Penedos as saying that a deal
with the Spanish utility over an expected strategic alliances could be closed
shortly, with the acquisition of cross shareholding in the two companies seen
taking place next year.
Gamesa also rose 0.16 to 29.07, after a report in Cinco Dias cited the
company's chairman as saying its order book to 2009 currently stands at 4,500
megawatts.
REE slipped 0.06 to 35.39, after Citigroup placed 1.35 pct for 34.95 eur/shr
on behalf of Endesa and Endesa announced it had sold a total of 2 pct REE for an
average price of 35.33 eur per share.
Amid small and medium caps, Zeltia surged 0.36 or 4.80 pct to 7.86, after it
announced that the European Commission had cleared it to commercialise its
Yondelis drug for the treatment of soft tissue sarcoma (STS) in Europe.
Avanzit shot up 0.43 or 11.23 pct to 4.26 on expectations of positive news
flow tomorrow at the company's 1 pm press conference.
[e-mail]
ccs/ccs/jfr

[ariane] 20/9/2007 07:45

Madrid shares TFN at a glance outlook
Date : 20/09/2007 @ 07:42
Source : TFN


Madrid shares TFN at a glance outlook


MADRID (Thomson Financial) - Shares are expected to open flat to slightly
lower amid profit-taking after yesterday's strong rally, and in cautious trade
ahead of a Congressional testimony by US Federal Reserve chairman Ben Bernanke.
Yesterday, the IBEX-35 index ended up 452.80 points or 3.22 pct at
14,494.80, after trading in a range of 14,314-14,537.

FORTHCOMING EVENTS
TODAY
-Spain Q2 labour costs
-Ferrovial meeting with journalists (10.00 am)

TODAY'S PRESS
-US power association calls on govt to block Iberdrola's buy of Energy East
(El Economista)
-Sogecable's AVS calls board meeting Sept 27 to discuss football rights war
(El Economista, La Gaceta de los Negocios)
-Sogecable to launch hi-definition signal for pay-TV service next week
(Expansion)
-Metrovacesa plans a 750 mln eur subscription offer in H1 2008 (Cinco Dias)
-Gamesa order book to 2009 reaches 4,500 MW (Cinco Dias, Expansion)
-Spain govt sees interconnection capacity with Portugal at 3,000 MW by 2014
(Cinco Dias)
-NH Hoteles' Burgio calls on core shareholders to unite against possible
takeover (Negocio)
-Caja Madrid values Criteria at 4.3 bln eur less than La Caixa's estimates
(La Gaceta de los Negocios)
-SOS Cuetara begins legal action against rival Acesur in 90 countries (Cinco
Dias, La Gaceta de los Negocios)
-REN, Enagas to start acquiring stakes in each other next year (Jornal de
Negocios)

LATE CORPORATE NEWS
-Brazil telecoms regulator confirms Vivo bid for new mobile licences
-RBS, Santander buy of ABN Amro assets cleared by EU
-Spain's bourse regulator clears Santander note issue worth 7 bln eur
-Endesa's Miranda says new European energy regulation proposal lacks key
elements
-Colonial formalises partial debt reduction via loan syndicate after capital
hike
-Abertis to reorganise stake in Atlantia
-Caja Madrid to book gross capital gains of 2.340 bln eur from Endesa stake
sale
-STOCKWATCH Sogecable sharply lower after denial of football rights accord
-*SOGECABLE UPGRADED TO 'NEUTRAL' FROM 'SELL' BY UBS, TARGET 26 EUR VS 28
-*ZELTIA GETS EU CLEARANCE FOR MARKETING YONDELIS IN TREATMENT OF STS

MARKET SENTIMENT
-The broad market is expected to open slightly lower amid profit taking
after yesterday's strong rally, but trading is likely to be cautious ahead of
Fed chairman Bernanke's testimony later today.
-Iberia will be in focus as speculation resurfaces in La Gaceta's rumour
column that AirFrance-KLM is preparing a bid for the Spanish flag carrier ahead
of any offer by the TPG consortium. Iberia chairman reportedly told unions
earlier this week he expected a firm bid from the TPG consortium in the first
half of October, but that other alternative offers could arise. TPG has declined
comment on recent speculation.
-Airline peer Vueling may see some support from stake building news from
founders Carlos Muñoz and Lazaro Ros.
-Spanish banks will continue to be watched closely after ING raised its
stance on Banco Popular to 'buy' from 'hold' and Banco Pastor to 'hold' from
'sell', though lowered its EPS forecasts and target price for most Spanish
banks.
-Sogecable may see buying interest after UBS upgraded its stance to
'neutral' from 'sell' and after a report that its AVS unit will meet next week
to discuss the current football broadcasting rights war.
-Zeltia will see gains after announcing that the EU has cleared it to market
Yondelis in its treatment of soft tissue sarcoma.

[e-mail]
ped/ped/jdy/ped/jlw

[ariane] 17/9/2007 08:18

Theolia to acquire 84.5 pct in 50.4 mw wind farm in Morocco from EDF


PARIS (Thomson Financial) - French renewable energy company Theolia said it
has agreed to aquire 84.5 pct in Moroccan wind farm company Cie Eolienne du
Detroit from EDF.
The purchase price was not disclosed.
Based in Tetouan, in the North of Morocco, CED owns the biggest wind farm in
the country. It comprises 84 wind turbines with a total installed capacity of
50.4 megwatts and an output of around 190 gigawatt hours per year, Theolia said.
The company said it will benefit from the agreement with the Moroccan
National Office of Electricity which has committed to purchase all electricity
produced for a further 12 years, at a predefined rate.
A team of 10 people has been managing the wind farm since it was
commissioned in 2000.
[e-mail]
an/jlw

[ariane] 14/9/2007 18:48

Madrid shares close lower as banking sector concerns continue to weigh UPDATE
Date : 14/09/2007 @ 17:09
Source : TFN


Madrid shares close lower as banking sector concerns continue to weigh UPDATE


(Updates with full report)
MADRID (Thomson Financial) - Shares prices closed lower as concerns over the
health of the European banking sector and its potential exposure to the US
mortgage crisis continued to weigh heavily, with both banks and constructors
down sharply.
The IBEX-35 index closed down 216.80 points at 13,861.00, after trading in a
range of 13,765-14,025.
Equities opened lower, with Wall Street's overnight gains already priced in
by yesterday's close, and moved deep into the red by midday on news that UK
mortgage lender Northern Rock has sought emergency funding from the Bank of
England.
Weaker-than-expected retail data in the US meant Spanish markets found
little in afternoon trade to pull it out of the day's doldrums.
"The fact that investors have focused on the weaker-than-expected retail
data rather than being encouraged by the confidence or inventories data
indicates that the desire to sell is stronger than any inclination to look for
bargains," a trader at a local brokerage said.
"However, as long as there is no major crisis, there are certainly plenty of
buyers eagerly eying Spain and waiting to move in."
Banks tracked the weaker trend across Europe, as Santander shed 0.13 eur to
12.77 and BBVA was down 0.27 at 15.94, while Bankinter dropped 0.40 or 3.76 pct
to 10.25, giving up yesterday's gains, and Banesto shed 0.29 or 2.16 pct to
13.11.
Constructors also suffered, with FCC slipping 2.80 or 4.84 pct at 55.10, ACS
shedding 1.75 or 4.89 pct to 34.06, and Sacyr Vallehermoso was 1.32 or 5.10 pct
lower at 24.55.
Acciona lost 4.35 or 2.54 pct to 166.90, further depressed by a report in
Negocio's rumour column that the company is having difficulty selling its
handling unit.
Among the session's handful of gainers, defensive REE rose 0.11 to 33.98,
and NH Hoteles added 0.24 to 14.67.
Among small caps, hotel peer Sol Melia was down 0.17 at 13.24.
Vocento dropped 0.53 or 3.30 pct to 15.55, giving up yesterday's heavy gains
after El Mundo said former Grupo Recoletos chairman Jaime Castellanos has denied
speculation that he is leading a takeover bid for the media group.

[e-mail]
ped/ajb

[ariane] 14/9/2007 18:22

Spain to lift R&D spending to 47 bln eur over next 4 years
Date : 14/09/2007 @ 18:19
Source : TFN


Spain to lift R&D spending to 47 bln eur over next 4 years


MADRID (Thomson Financial) - Spain said Friday it was to double research and
development spending to 47 bln eur (65 bln usd) for 2008-2011 to bolster
competitivity.
Spanish First Deputy Prime Minister Maria Teresa Fernandez de la Vega
unveiled the "ambitious" plan to more than double the 2004-2007 R&D spending
after Friday's cabinet meeting.
R&D "is an essential factor in improving competitivity. If Spain wants to
continue to grow and generate employment we have to be capable of generating our
own knowledge," de la Vega said.
The cash will be primarily earmarked for research into health,
biotechnology, energy and climate change, as well as telecommunications and
information and nano-technology.
Spanish Prime Minister Jose Luis Rodriguez Zapatero announced in January
that Spain intended to lift R&D spending from a current 1.13 pct of public
expenditure to 2.0 pct, the EU average as a whole in 2004, according to the EU
statistical office Eurostat.

[e-mail]
jlc

[ariane] 14/9/2007 12:43

New passport requirement for Ryanair Spanish travel
14/09/2007 - 10:38:18

Ryanair today informed passengers that the Spanish Government has introduced new measures requiring all passengers travelling to Spain (including the Canaries and Balearic Islands) from the UK and Ireland to provide passport or National ID data prior to flight departure.

This is known as 'advance passenger information' ('API' or 'APIS' data) and all passengers travelling from September 19th will be required to submit the following details:

Full Name (as it appears on the passport)
Date of birth
Nationality
Passport or Travel document number
Type of Document
Issuing State

[ariane] 09/9/2007 18:16

Iberdrola to raise up to 4 bln eur in Iberenova float


LONDON (Thomson Financial) - Spanish power group Iberdrola SA, which owns
the UK's Scottish Power, will raise up to 4 bln eur when it floats the world's
largest wind power company, the Independent on Sunday reported.
Iberdrola hopes to list its Iberenova division, which analysts say will be
valued at between 16 bln eur and 20 bln eur, next month in Madrid, the newspaper
said.
Iberenova is the world's largest wind farm operator and owner, with a
portfolio of wind farms with 6,500 megawatts of capacity, 350 megawatts of
hydroelectric power and a further 40,000 megawatts of planned wind farms in the
pipeline.
By selling one fifth of Iberenova shares, Iberdrola will raise capital to
finance the subsidiary's planned developments, the Independent reported.
[e-mail]
paw/jag