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Spanish stocks - Factors to watch on Wednesday

Reuters - Wednesday, May 7

MADRID, May 7 - The following Spanish stocks may be affected by newspaper reports and other factors on Wednesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

CEPSA

The Spanish energy company said on Tuesday its first quarter net profit was 119 million euros , down 42 percent in year-on-year terms.

For a full story, please click on [ID:nL06520874]

COLONIAL

The real estate firm said on Tuesday banks that have swapped debt for equity in the firm have taken three of 12 seats on the company's board.

Colonial shareholder Nozar has a ski resort in the Spanish Pyrenees held as guarantee for 135 million euros of debt linked to its Colonial investment, newspapers reported on Wednesday.

For a full story, please click on [ID:nMDT005164]

ENAGAS

The gas distribution company will posted first quarter net profit up 15.2 percent to 64.8 million euros. Analysts polled by Reuters expected quarterly earnings to rise by 14.9 percent. President Carratala will give a news conference.

TELECINCO

The television broadcaster will pay a dividend of 1.3 euros per share from 2007 earnings.

BBVA

BBVA is finalising plans to double its investment in banks in China and Hong Kong -- Citic and Citic International -- to 10 and 30 percent respectively before July, newspaper ABC reported, citing financial sources.

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