The complex situation of Dia and four other economic news of the day

The complex situation of Dia and four other economic news of the day


MadridUpdated:

1. The leadership of Dia asks for "tranquility" and reorganizes the management structure. According to ABC's knowledge of financial sources, the president and CEO of the company met this morning at its headquarters with the management team to announce «Structural changes in the organization chart» and to send a message of «tranquility», according to sources consulted by ABC.

2. Iberdrola sells its stake in Scottish Power Generation for 801 million euros to Drax Group. Iberdrola has reached an agreement with the British Drax Group for the sale of its entire stake in Scottish Power Generation by an amount of 801 million euros (702 million pounds sterling), as reported by the company to the National Securities Market Commission (CNMV).

3. BBVA worsens its forecast of GDP growth and calls for cutting inefficient public spending. The uncertainty about the political viability of the measures planned by the government lurks on the economy. This is confirmed by BBVA Research in its latest report «Situation Spain» presented this morning in which it worsens its growth forecasts for the national economy for 2018 and 2019 by three and one tenth respectively, to 2.6% (identical to the Government) and 2.4%.

4. Rosa García leaves the management of Siemens Spain and is replaced by the financial director of Siemens Gamesa. Siemens announced today that Miguel Ángel López, currently CFO of Siemens Gamesa Renewable Energy (SGRE), will succeed Rosa García as head of Siemens Spain, according to the company announced in a statement. López will also keep his responsibilities in charge at Siemens Gamesa parallel.

5. Ferrovial raises more than 4% on the stock market after hiring an external advisor to sell its Services division. Ferrovial shares rise more than 4% in the early stages of the session after announcing that he has hired an external consultant to study the possible sale of its Services division. Specifically, the company's securities are already exchanged at 18.3 euros.

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