0NRE.L - Enel SpA

YHD - YHD Delayed price. Currency in USD
75,784,003,584.00
+3.21 (+0.00%)
At close: 6:07PM EDT
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  • Shift to Cleaner Power Sparks Landmark Green Bond in Japan
    Bloomberg

    Shift to Cleaner Power Sparks Landmark Green Bond in Japan

    (Bloomberg) -- Follow Bloomberg on Telegram for all the investment news and analysis you need.In Japan’s gusty northeast, a power company is looking to fund offshore wind projects with a landmark sale of green bonds that seeks to muscle in on the growing pool of money available for environmentally friendly investments.Tohoku Electric Power Co. plans to price what would be the debut green note from a Japanese utility with its 5 billion yen ($46 million) offering of 10-year securities on Thursday.The utility recently got certification from the Climate Bonds Initiative, an international not-for profit organization that created the first green-bond standard in 2010. Tohoku Electric Power officials said in an interview at the company’s headquarters in the northeastern city of Sendai that it did so to try to attract overseas investors.“Green bonds would help attract investors who haven’t bought our bonds yet,” said Yasunori Majima, manager at the utility’s accounting and finance department, adding that it had received positive feedback from foreign asset managers.Utilities have fallen behind in Japan’s surge toward feel-good investments because they are still largely reliant on coal generation, but the planned issuance highlights how the sector is taking steps to meet climate goals. Tokyo Electric Power Co. Holdings Inc., the utility behind the worst nuclear disaster since Chernobyl, is also considering funding renewable energy with green or sustainable debt.While the utility sector is one of the biggest issuers of straight bonds in Japan, its absence in selling green notes made Tohoku Electric look to trailblazers in Europe such as French utility Engie SA and Italy’s Enel SpA.“While the use of coal has been criticized by environmental groups, we also learned from overseas examples that utilities can issue green bonds as long as the use of proceeds is focused on green projects,” Majima said.Tohoku Electric is seeking to finance seven wind farms and offshore wind projects in Akita, Aomori and Iwate prefectures, as well as a geothermal project in Indonesia. The moves toward green securities came after the utility decided in early 2019 to expand its renewables business, Majima said. Certification from the Climate Bonds Initiative “was not absolutely necessary, but we decided to get it to pursue greater transparency for our first green bonds,” Majima said.While the company hasn’t made any decisions yet, “there’s a possibility that we will be selling green bonds regularly” going forward, he said.(Updates with comment on CBI certification in ninth paragraph.)To contact the reporters on this story: Ayai Tomisawa in Tokyo at atomisawa@bloomberg.net;Rie Morita in Tokyo at rmorita5@bloomberg.netTo contact the editors responsible for this story: Andrew Monahan at amonahan@bloomberg.net, Beth Thomas, Ken McCallumFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Telecom Italia Said to Be Near Picking KKR for Fiber Deal
    Bloomberg

    Telecom Italia Said to Be Near Picking KKR for Fiber Deal

    (Bloomberg) -- Telecom Italia SpA is close to picking the private equity giant KKR & Co. to help it acquire wholesale fiber carrier Open Fiber SpA, according to people familiar with the matter.Telecom Italia is choosing the U.S. investment firm because it’s also open to purchasing a minority stake in a portion of the Italian company’s landline network, the socalled “secondary network” of copper and fiber lines running from street cabinets to premises, that’s valued by KKR at 7 billion euros ($7.6 billion) to 7.5 billion euros, said the people, who asked not to be named because the discussions are private.Telecom Italia shares rose as much as 3.2% at the market open in Milan, their biggest intraday gain since November. The larger goal is building a single national network, an approach favored by the Italian government led by Premier Giuseppe Conte.Since last year, Telecom Italia Chief Executive Officer Luigi Gubitosi has considered enlisting international funds to help finance a potential network deal with rival Open Fiber, people familiar with the matter said at that time. Gubitosi is also looking to boost demand for premium services, work along with rivals on network investments to cut costs, and spin off noncore assets.Open Fiber’s investors include Italy’s state lender Cassa Depositi e Prestiti and the country’s largest utility, Enel SpA. Francesco Starace, CEO of Enel, said last week in an interview with Börsen Zeitung that he isn’t going to sell the company’s stake in Open Fiber. In contrast, Cassa Depositi would be open to selling its Open Fiber stake, another person said.Spokespeople for Telecom Italia and KKR declined to comment. Representatives for Open Fiber and Cassa Depositi weren’t available after business hours.Open Fiber reported full-year 2018 revenue of 114 million euros. Its active customers numbered 500,000 at the end of that year, and the company reached more than 5 million households with its fiber network.(Updates with share price in third paragraph)\--With assistance from Liana Baker.To contact the reporter on this story: Daniele Lepido in Milan at dlepido1@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net;Rebecca Penty at rpenty@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Unreliable boyfriend's adieu drags British stocks down

    * Futures point to lower Wall Street open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. BoE's departing Mark Carney earned his 'unreliable boyfriend' nickname by failing to smoothly guide investors towards his rate decisions. With the market completely split on today's move, Carney was bound, one way of the other, to disappoint.

  • Reuters - UK Focus

    LIVE MARKETS-Meanwhile, value stocks keep on losing ground

    * Eyes on BoE meeting: rate cut hangs in balance Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Another sign that investors are not quite ready to turn bearish is how value stocks keep on underperforming. "Global value stocks now stand at a record low versus their growth counterparts, having underperformed for the whole of last year and into this year", UBS analysts write in their daily House View.

  • Reuters - UK Focus

    LIVE MARKETS-Utilities: flying like a FANG

    * Eyes on BoE meeting: rate cut hangs in balance Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Utilities aren't the sexiest industry on the market but over the last month or so they had returns similar to the high-flying FANGs on Wall Street, if not even higher. Surely, worries over economic growth are pushing investors into old-fashioned bond proxies but perhaps there more into it, as climate change fosters huge transformations in the industry and reshapes the whole economy.

  • Reuters - UK Focus

    LIVE MARKETS-ECB: the second first meeting

    * Fevertree falls after Xmas trading update Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. This week, eyes will be on the ECB meeting scheduled for Thursday, the first of 2020 and also the first real monetary policy meeting for Christine Lagarde since the previous one in December was effectively her introduction to the world as the new ECB's president. Lagarde is expected to launch the Strategic Review at the Frankfurt meeting, but Royal Bank of Canada is not expecting massive changes.

  • Reuters - UK Focus

    LIVE MARKETS-Davos: Watch those utilities

    * Fevertree falls after Xmas trading update Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Once a year, the richest and most powerful people in the world gather together at The World Economic Forum in Davos, Switzerland, to have a chat about the hot topics shaping the world's economy. While the attention on sustainability could be great news for the planet, it might not be that great for European utilities, according to UBS.

  • It Might Not Be A Great Idea To Buy Enel SpA (BIT:ENEL) For Its Next Dividend
    Simply Wall St.

    It Might Not Be A Great Idea To Buy Enel SpA (BIT:ENEL) For Its Next Dividend

    Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...

  • Is There An Opportunity With Enel SpA's (BIT:ENEL) 22% Undervaluation?
    Simply Wall St.

    Is There An Opportunity With Enel SpA's (BIT:ENEL) 22% Undervaluation?

    Today we will run through one way of estimating the intrinsic value of Enel SpA (BIT:ENEL) by taking the expected...

  • Reuters - UK Focus

    UPDATE 2-European shares down for 4th day on trade worries; Germany outperforms

    European shares wiped gains and ended lower for a fourth session running on Tuesday as sentiment worldwide took a hit after U.S. President Donald Trump signalled delays to reaching a trade deal with China. London's FTSE, packed with trade-sensitive mining and energy stocks, lost 1.8%%, the most in the region, as material shares lost 1.6%.

  • Reuters - UK Focus

    LIVE MARKETS-On the radar: Champagne, handbags and spoils of trade war

    Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. With new fronts in Brazil, Argentina, Europe and France, the trade war is likely to be the key driver for this session, especially with Trump in the UK for the NATO summit. After the U.S. threatened to slap punitive duties of up to 100% on $2.4 billion of imports from France on products such as champagne or handbags, French companies such as LVMH, Kering and Laurent-Perrier will be closely watched.

  • Reuters - UK Focus

    UPDATE 2-European shares slide after strong November; trade jitters nag

    European shares posted their biggest daily drop in two months on Monday, with most major markets including Germany and France slumping more than 2%, as a reimposition of U.S. metal tariffs on Brazil and Argentina triggered a decline in global sentiment. After an upbeat November, its third straight month of gains, the pan-European STOXX 600 index closed down 1.6%, erasing session gains after positive factory activity data from China and major euro zone economies had earlier taken it to near four-year peaks.

  • Does Enel SpA’s (BIT:ENEL) ROCE Reflect Well On The Business?
    Simply Wall St.

    Does Enel SpA’s (BIT:ENEL) ROCE Reflect Well On The Business?

    Today we'll evaluate Enel SpA (BIT:ENEL) to determine whether it could have potential as an investment idea...

  • Reuters - UK Focus

    LIVE MARKETS-UK economy is poised to pick-up post after election

    * U.S. futures point to weaker Wall Street open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Decent GDP growth path is not too far away as the chances of a resolution of Brexit-induced uncertainty is likely and a sizeable fiscal impulse is on the horizon, Goldman Sachs economists say. With Conservatives being favourites to return to power, Goldman Sachs believes clarity on the UK's terms of exit should emerge faster than under a Labour government.

  • Reuters - UK Focus

    LIVE MARKETS-This trade war is soooo 2019

    * U.S. futures point to weaker Wall Street open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Amid trade war fatigue, European stock markets are once again driven (down about 0.6% at the moment) by Trump commenting on the negotiations with China. Alain Bokobza, head of global asset allocation at SocGen told us during a chat on Tuesday afternoon that reading markets on the short term was more than tricky.

  • Reuters - UK Focus

    LIVE MARKETS-Politics matter: Madrid at relative all-time low

    * STOXX 600 hit July 2015 high at yesterday's close Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Madrid is lagging the market as investors brace for more instability after the Socialists and the far-left Podemos party formed a government pact that still lacks majority, following an inconclusive general election - the second this year. The IBEX is down 1.6% and the STOXX is falling 0.8% -- a gap that at a first glance isn't too scaring.

  • Reuters - UK Focus

    UPDATE 2-European shares break 5-day winning run as Trump dampens trade talk hopes

    European shares broke a five-day winning streak on Friday after U.S. President Donald Trump said he has not agreed to roll back tariffs on China, adding to uncertainties on whether the two sides were really getting close to signing a partial deal. The pan-European STOXX 600 index ended 0.3% lower after gaining 2.5% over the last five sessions.

  • Should Enel SpA (BIT:ENEL) Be Part Of Your Dividend Portfolio?
    Simply Wall St.

    Should Enel SpA (BIT:ENEL) Be Part Of Your Dividend Portfolio?

    Could Enel SpA (BIT:ENEL) be an attractive dividend share to own for the long haul? Investors are often drawn to...

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