Banco Bilbao, NH, Telecinco, Iberdrola: Spanish Stock Preview

By Charles Penty and Javier Marquina

Dec. 3 (Bloomberg) -- The following companies may have unusual price changes in Spain and Portugal. Stock symbols are in parentheses and share prices are from the previous close.

Spain’s IBEX 35 Index rose less than 0.1 percent to 11,868.80 and Portugal’s PSI-20 Index dropped 0.3 percent to 8,359.12.

Banco Bilbao Vizcaya Argentaria SA (BBVA SM): The Spanish lender has a first deadline of Dec. 4 to exercise an option to raise its stake in China Citic Bank Co. to 15 percent from about 10.1 percent. The shares fell 0.1 percent to 12.78 euros.

Gestevision Telecinco SA (TL5 SM): The broadcaster may be active after the European Union started an investigation into Spain’s plan to help finance state-owned broadcaster RTVE by introducing a new tax on commercial broadcasters and telephone operators. The shares gained 0.5 percent to 7.76 euros.

Iberdrola SA (IBE SM): The power company was cut to “hold” from “buy” at Standard & Poor’s Equity Research. The stock rose 0.2 percent to 6.44 euros.

NH Hoteles SA (NHH SM): Spain’s largest business hotel operator will hold a shareholders’ meeting, which will vote on a plan to manage 51 hotels owned by Hesperia, its biggest shareholder. The shares fell 2.7 percent, to 3.55 euros.

Repsol YPF SA (REP SM): workers at the Argentine unit of Spain’s biggest oil company plan to strike for 24 hours today in the oil production area of the Neuquen basin to demand salary increases previously approved by both parties, union leader Manuel Arevalo said. Repsol declined 0.2 percent to 18.72 euros.

To contact the reporters on this story: Charles Penty at cpenty@bloomberg.net; Javier Marquina in Madrid at jmarquina@bloomberg.net.