The large investment bank is already putting figures on the impact on the benefits of Spanish electricity companies from the shock plan to lower the price of electricity approved this Tuesday by the Government . JP Morgan and Morgan Stanley calculate a reduction in ebitda (gross profit) of around 5% for Iberdrola in 2021 and 2022 and of around 12% for Endesa.
The estimate distributed by the JP Morgan investment firm to its clients and to which the Economist has had access points to an impact on earnings of 1,100 million for Iberdrola between the remainder of the year and the first quarter of 2022 and of 1,000 million for Endesa in the same periods.
These figures represent a reduction of about 5% in Iberdrola’s ebitda for each year compared to the estimate prior to knowing the Government’s measures from the consensus of analysts gathered by Bloomberg, which reached 11,109 million for 2021 and 12,022 for 2022, in in line with the objectives of the company’s own strategic plan, from which it would now move away.
In the case of Endesa, the 1,000 million impact defended by JP Morgan experts represent a reduction of around 12.5% of the gross profit for each year, which previous expectations rose to 3,972 million euros in 2021 and at 4,009 million in 2022, slightly above the company’s goal of 4,000 million, which would also become obsolete.
For its part, in another report published this Tuesday, Morgan Stanley reduces the impact on Endesa’s ebitda to 6% in the next two years ; and in Iberdrola’s gross earnings, it leaves it at 3% for these same years.
Both the latter investment bank and JP Morgan anticipate a much lighter blow for Naturgy, whose market share in power generation in Spain is lower than its competitors, 10%, compared to 24% for Iberdrola and 19% of Endesa.
Beyond the numbers, the Citi team of experts issues a warning in another sense: “The measures of the Spanish Government to limit the increase in the electricity bill may structurally deteriorate the confidence of investors in the electricity sector.” “The blow is greater than the market expected,” they influence JP Morgan.
The ‘electric shock’ to the Ibex
Endesa shares have fallen by about 11% since Monday, while Iberdrola shares have lost 7.4%. From the highs of the year on the stock market for each of these companies, the decline is 18% and 21%, respectively.
This electrical discharge for the Ibex 35 “does not alter its technical situation beyond continuing with the weakness that the loss of supports such as 8,725 / 8,800 points warned last week,” says Joan Cabrero, an analyst at Ecotrader. In order for there to be any notable change in the consolidative situation of the European stock markets, he explains, the EuroStoxx 50 should lose key supports that it finds at 4,080 points . “As long as the current consolidation is not lost, it will not become a downward correction with the potential threat of seeing falls towards 3,800 / 3,900 points,” he clarifies.
Losses of 7,490 million
In the last two sessions of the stock market, Endesa, Iberdrola and Naturgy recorded losses in market capitalization valued at 7,490 euros .
The punishment of investors was especially harsh for Endesa, since in just 48 hours it left 2,435 million euros , more than 11% of its value. Its current capitalization, at the close of the session, is 20,550 million euros, which represents a loss of 5,0801 million since its highs for the year.
Iberdrola, the largest company in the sector, left 4,832 million euros in the last two days , 7.4% of its capitalization. Thus, it has lost 19,956 million since January 8, the day it reached its record levels. The lower punishment to Naturgy, which only left 223 million euros in this period, means that the former Gas Natural surpasses Endesa as the second listed company in the Spanish electricity sector.
However, the reviews of the recommendations that investment banks give to the main electricity companies still do not show any change. The analysis houses are waiting for formal details on the new measures . This is clarified by the Bank of America experts who, generally speaking, believe that “the impact is not as bad as it might have seemed when the first headlines were published first thing in the morning.”
Mediobanca analysts also pointed to the need to delve into the details, although the package of measures announced by the Government “is clearly negative for Endesa and Enel [the parent]”, as well as for Iberdrola and Naturgy, whose securities continue to receive advice. to keep in portfolio.
Barclays also see a particularly negative reaction in Endesa’s share prices. Meanwhile, Santander, despite advising to wait for things to calm down to enter the electricity companies, at current levels gives the firm Jose Bogas a clear buy recommendation.
Victim Killed In Green Lake County Car Crash Identified, Police Look For More Information
Police have identified a man who was killed in a car crash on Highway 23 last month. Authorities, however, are still seeking more information about the deadly crash that also sent one person to a hospital.
Police Looking For Additional Information
A search continues for a witness or witnesses who may have information on the crash, which occurred near County Highway W. on Sept. 29 around 3:20 p.m. According to the Green Lake County Sheriff’s Office, a westbound black Jeep SUV crossed the center line and struck an eastbound white ford SUV head-on, Ripon Press reported.
Jessica Knueppel, 43, of Fon du Lac was the driver of the Jeep SUV. She was brought to ThedaCare Berlin for treatment.
According to the crash report, Kneuppel looked like she was under the influence of medications, drugs, or alcohol. She was tested to see if her blood contains drugs or alcohol and authorities are still waiting for the results.
Another Crash Happened The Same Day
A press release from Green Lake County Crime Stoppers stated that just 10 minutes earlier on the same day, another crash transpired which involved a red or maroon SUV.
The driver of the red or maroon SUV apparently left his car to check damages but eventually fled the scene, the report said.
Ripon Press quoted Green Lake County Chief Deputy Matthew Vande Kolk saying, “We are attempting to identify the occupants of the red or maroon SUV as we believe they may have information pertaining to the fatal traffic crash investigation.”
Any person who has any information regarding the fatal crash can contact 920-294-4134 Ext. 1151 to speak to a detective or send an email [email protected].
Tipsters may also receive a cash reward for any information that can lead to any eyewitnesses.
Man Killed, Stepsons Critically Injured In Car Crash In Illinois
A fundraising program has been launched after a family lost their father to a car crash. His two stepsons were critically injured in the same accident in Beach Park Friday evening.
Justin Moland, the coach of the Waukegan Panthers youth baseball team, said in a GoFundMe fundraiser that his players, Giovanny Rodriguez, his brother Alejandro and their stepfather, Jose Hernandez, were involved in the fatal car accident, reported ABC 7 Chicago.
Both Giovanny and Hernandez were a part of the team’s summer league championship season, Moland said. Alejandro played for Waukegan Savages age division team.
Leilanis teammate got into a horrible accident! Thankfully he made it through along with his brother. Unfortunately his stepfather passed away! Jose was such a great person! So sweet and kind! Anything you can donate would help a lot! Or even sharing this https://t.co/J3mch3Qq4X
— Juice (@nailedbyjuice) October 10, 2021
The car crash happened around 6:45 p.m. Friday on Green Bay Road north of Wadsworth Road in Beach Park.
The Lake County Sheriff’s Office and Beach Park Fire Department were quick to react to the incident and found a crash involving four vehicles.
As per the preliminary investigation report, a 2017 Jeep Patriot, driven by a 50-year-old woman, tried to pass a truck, and then it hit a tractor and the jeep drove northbound in the lanes of Green Bay Road.
The jeep then crashed into a southbound 2014 Kia Soul, driven by Hernandez, 49, reported Lake & Mchenry County Scanner.
Hernandez was rushed to Vista Medical Center East in an ambulance in Waukegan where the medical examiner announced him dead.
Giovanny, Alejandro Critical
Giovanny and Alejandro suffered critical injuries, and are currently under observation. Moland said that Giovanny is currently in critical condition. He has broken bones and a head injury. Alejandro, on the other hand, suffered a severe concussion and other serious injuries.
The mother, Jackie, is devastated after the accident and loss of her husband, according to Moland.
He called Hernandez a “genuinely good person” who was always “willing to lend a helping hand and have a good time.”
Talking about Giovanny and Alejandro, he said that they are kind-hearted young men who light up a room with their smiles and attitude.
“The Waukegan Panthers team has been deeply affected by this tragedy,” Moland added.
The illegally passing Jeep also crashed into a Ford Explorer that was traveling southbound directly behind Hernandez’s Kia. The driver of the Ford, a 58-year-old woman, and a passenger, a 24-year-old man, were taken to Vista Medical Center East with minor injuries, police said.
The accident is currently being investigated by the Lake County Sheriff’s Technical Crash Investigations Unit.
Florida Sheriff Seizes Marijuana Weighing 770 Pounds, Searches For Owner To Return It
In a bizarre incident, a Florida sheriff has made a public declaration in search of a legal owner of high-grade marijuana weighing 770- pounds, which has a street value of two million dollars, and have it returned.
The Brevard County Sheriff’s Office took to its official Facebook page Thursday to make the eccentric announcement.
“If you happened to have lost or misplaced approximately 770 pounds of high-grade marijuana and would like to have your property returned, please contact our Narcotics Agents and we will be more than happy to reunite you with your lost property!!” Sheriff Wayne Ivey wrote in the Facebook post.
The post came after the Brevard Sherrif’s Office Narcotics Agents seized 770-pounds of marijuana from a storage facility in Viera.
In the unusual announcement, the Sheriff’s Office urged the person who owns the misplaced marijuana to step up and claim his property from the Criminal Investigative Services building on Gus Hipp Blvd in Rockledge. The Office also said that they would happily return the drugs and keep the marijuana in a safe place to return it undamaged.
Claim Your Property With No Strings Attached: Police To Owner
“So if the 770 lbs of marijuana belongs to you, all we need you to do is come down to our Criminal Investigative Services building on Gus Hipp Blvd in Rockledge and claim your property with absolutely no strings attached!! Once we properly identify you as the rightful owner we will gladly return your property and also make sure that both you and your property are kept in a secure area so that no one can try to rip you off!!,” Sheriff Wayne Ivey further wrote in the post.
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