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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  • Mexico’s Latest Hit to Energy Investors Upends Wind, Solar Aid
    Bloomberg

    Mexico’s Latest Hit to Energy Investors Upends Wind, Solar Aid

    (Bloomberg) -- Mexico’s president is upending a system to encourage renewable-power development, dealing another blow to efforts to attract private investment to the nation’s energy sector.The government of Andres Manuel Lopez Obrador is changing rules for clean-energy credits, allowing aging hydroelectric dams operated by Mexico’s state-owned utility to qualify. The move, critics say, dilutes the value of credits initially intended for new wind and solar farms.It’s the latest step by the leftist Lopez Obrador administration creating uncertainty for investors pushing to do business in Mexico. In February, the government canceled a power auction expected to draw energy titans including Italy’s Enel SpA and France’s Engie SA. And for months, the administration locked horns with billionaire Carlos Slim’s company over natural gas pipelines.The changes to clean-energy credits are “a blow to prospects for private investment in what had been until recently Latin America’s hottest renewable energy market,” said James Ellis, a Bloomberg New Energy Finance analyst.Julio Valle, of the Mexican Association of Wind Energy, said allowing old plants operated by Comision Federal de Electricidad, known as CFE, to qualify for credits could hobble efforts to create competitive markets and promote clean energy. The organization is considering legal action, Valle said.In a statement, Mexico’s energy ministry said the change was intended to “set a level playing field by including hydroelectric power.” A spokesman did not respond to a question about whether the move would hurt wind and solar development.Companies that could be affected by the change include subsidiaries of Enel, Engie and Spain’s Iberdrola SA, which all earn credits under the program.Mexico’s clean-energy program awards credits to power plants for every megawatt-hour they produce. They can be sold to big users of electricity that are required by the government to buy a certain amount of renewable power, creating an extra revenue stream for wind and solar farms.Awarding credits to old hydro plants will flood so many onto the market that they’ll be virtually worthless for stimulating development, critics say.“They were intended only for new projects. So if you’re going to give them retroactively to old projects, what’s really the purpose?” said Lisa Viscidi, director of energy, climate change and extractive industries at the Inter-American Dialogue in Washington.It appears that a key reason for the change is that Lopez Obrador wants to use the credits to help bail out the ailing state utility, Viscidi said. While the president has said he wants to reduce Mexico’s dependence on U.S. gas, that’s taking a back seat to propping up CFE, she said.“There’s been a creeping rollback of the part of the energy reform that favored renewables,” Viscidi said. “Little by little, it’s been undermining the renewables sector.”\--With assistance from Amy Stillman.To contact the reporter on this story: Justin Villamil in Mexico City at jvillamil18@bloomberg.netTo contact the editors responsible for this story: Carolina Wilson at cwilson166@bloomberg.net, Joe Ryan, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 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.

  • Chile Peso Rout Stifled by Central Bank Verbal Intervention
    Bloomberg

    Chile Peso Rout Stifled by Central Bank Verbal Intervention

    (Bloomberg) -- Chile’s central bank moved to halt a rout in the peso as plans for a new constitution after weeks of protests stoked concern of fundamental change to the country’s free-market economy.The peso weakened 2.8% to 781.87 per dollar at 1:18 p.m. after falling as low as 800.08, the biggest intraday move since 2011. Stocks and bonds also fell.Central bank President Mario Marcel reiterated policy makers’ “willingness to act in the face of anomalous situations,” saying it has a “variety of instruments at its disposal.“ Current uncertainty “should be contrasted with the economic fundamentals” which remain solid, he said in a statement.The comments were enough to stabilize the peso, which had been in free fall for much of the morning as a national strike added to pressure on a government struggling to respond to more than three weeks of riots and protests.“It’s definitely a verbal intervention,” said Claudio Soto, an economist at Banco Santander Chile. “The most important part is when it says it has the tools. It’s showing that it has a gun, a cannon, in case it were necessary.”Soto said he doesn’t expect more from the bank for now as “intervention levels are higher than this.”Civil UnrestChile has been wracked for more than three weeks by protests and riots against the rising cost of living and inequality. While the government has made concessions, including increased spending and a pledge to draw up a new constitution, it has failed to halt the demonstrations.The weaker peso “is obviously a sign of concern that we are following closely, as this will have an effect on prices, inflation and products that we consume,” Finance Minister Ignacio Briones said, referring to the drop in the peso. “It’s fundamental that all of us Chileans make an effort that things return to normal as soon as possible.”New ConstitutionThe government gave its backing to plans to write a new constitution on Sunday in an attempt to placate protesters. Yet, today’s national strike still went ahead and thousands packed out city centers across the country in fresh demonstrations.“Today it’s just concern because people don’t know what’s going to happen with the constitution,” said Sebastian Ide, head of trading at Banco de Chile in Santiago. “The outcome could be very good or very bad and it’s that uncertainty that generates this kind of run.”The drop in the peso is beginning to damp expectations for further interest rate cuts. Interest-rate swaps jumped, and now show one more 25 basis-point rate cut in the next six months instead of the two seen last Friday. The five-year peso camara rate rose 15 basis points, on course for the biggest jump in three years.Chilean government bonds dropped. The yield on CPI-linked BTU 2026s rose 32 basis points to 0.4%, while the yield on the peso 2026 BTPs increased 27 basis points to 2.98%.Construction companies led losses on the stock exchange with Salfacorp falling 8.4%. Stocks with revenue in dollars suffered less, with Enel Americas, which holds assets in the rest of Latin America and not in Chile, falling only 1.5%. Since the unrest began on Oct. 18, the IPSA has slumped 13% and about $25 billion in market value has been destroyed.While port workers and some miners laid down tools Tuesday, many of the giant copper mines in the north and Santiago’s airport were working normally. Barricades on some of the highways into Santiago impeded traffic, while clashes with the police broke out near the mining town of Calama. Valparaiso’s train system was also on strike, while workers from the state oil refinery marched through the town of Concon.\--With assistance from Sebastian Boyd and Eduardo Thomson.To contact the reporters on this story: Philip Sanders in Santiago at psanders@bloomberg.net;Maria Jose Campano in Santiago at mcampano@bloomberg.netTo contact the editors responsible for this story: Carolina Wilson at cwilson166@bloomberg.net, Philip SandersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 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...

  • Reuters - UK Focus

    BHP switches to green power for Chilean copper starting 2021

    BHP, the world's biggest miner, said on Monday it had signed four renewable energy contracts to supply all of its Chilean copper operations beginning in 2021, cutting energy costs by 20%. Miners, which often use fossil fuels as the energy source in their operations, are shifting to renewable generation as the cost of wind and solar power drops, while social and shareholder pressure to address climate change mounts. Daniel Malchuk, president of BHP Minerals Americas, said BHP had signed contracts to cover the energy needs of Escondida, the world's biggest copper mine, and Spence, another copper mine in Chile, the world's leading copper-producing country.

  • Update: Enel (BIT:ENEL) Stock Gained 73% In The Last Three Years
    Simply Wall St.

    Update: Enel (BIT:ENEL) Stock Gained 73% In The Last Three Years

    By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with...

  • Reuters - UK Focus

    LIVE MARKETS-Off lows: "Markets are way more interested in a trade deal"

    * European stocks fall as Trump impeachment probe knocks confidence * But Trump says trade deal with China could happen sooner * STOXX 600 ends down 0.6%, off lows after hitting Sept. 10 low * France's EDF leads fallers as co flags rising Hinkley Point costs * Wall Street hits session high on Trump's China trade comments Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net OFF LOWS: "MARKET ARE WAY MORE INTERESTED IN A TRADE DEAL" (0413 GMT) Worries over the possible impact of impeachment proceedings against Trump on the on trade talks with China and the 2020 presidential election in the U.S. drove European shares down sharply with the STOXX 600 dragged down to two-week lows, falling 1.45% at one point.

  • Reuters - UK Focus

    LIVE MARKETS-Cheers? Not so much. Europe braces for fresh U.S trade front

    * European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street falls as Trump transcript with Ukraine president released Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. EUROPE BRACES FOR FRESH U.S. TRADE FRONT (1458 GMT) The market is obsessed today about the U.S. impeachment probe of U.S. President Trump and whether it could derail the U.S.-China trade talks.

  • Reuters - UK Focus

    LIVE MARKETS-What next in the travel biz? "Multiple headwinds"

    * European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street futures point to weak U.S. open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. "MULTIPLE HEADWINDS" (1425 GMT) Travel & leisure stocks are top fallers today as it looks like the possible market share gains stemming from the demise of UK travel group Thomas Cook are already baked in the prices, while longer-term challenges for the industry remain. Jefferies says the scale of Thomas Cook's failure could potentially lead independent hoteliers to review partners and payment terms.

  • Reuters - UK Focus

    LIVE MARKETS-U.S. President impeachments: What does history tell us?

    * European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street futures point to weak U.S. open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net U.S. PRESIDENT IMPEACHMENTS: WHAT DOES HISTORY TELL US?

  • Reuters - UK Focus

    LIVE MARKETS-Utilities: Golden Age of growth

    * EDF falls as co flags rising Hinkley Point costs Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Green government policies, low interest rates, rising importance of ESG (environmental, social and governance) and lower construction costs are seen as factors making the capital-intensive utility sector attractive, according to Bank of America Merrill Lynch (BAML). Apart from policies, decarbonisation and low interest rates, the ESG theme is also playing out well for the sector with 44% of asset owners expected to increase their allocation to ESG-compliant stocks.

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: An average day, a stellar month

    Jan 31 - 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. Reach him on Messenger to share your thoughts ...

  • Reuters - UK Focus

    LIVE MARKETS-Deutsche Bank/Commerzbank: the story is in the share price

    * European stocks in the red on gloomy data * Fed says will be 'patient' on future rate hikes * Asia stocks climb to 4-mth high * Shell boosts oil & gas sector to 2-month high Jan 31 - Welcome to the home ...

  • Reuters - UK Focus

    LIVE MARKETS-Old faithfuls shine

    * European stocks in the red on gloomy data * Fed says will be 'patient' on future rate hikes * Asia stocks climb to 4-mth high * Shell boosts oil & gas sector to 2-month high Jan 31 - Welcome to the home ...

  • Reuters - UK Focus

    Nigeria LNG offers December cargo - sources

    Nigeria Liquefied Natural Gas has offered a cargo for loading in December, three industry sources said on Tuesday. The company has likely offered the cargo through private negotiations and it was not immediately ...

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