MFAO, based in Spain, is the only market in the world where futures contracts on olive oil can be traded.
The market, which was created four years ago, has been mainly used by olive growers to protect themselves against price swings. Olive oil prices are exceptionally volatile, so both growers and producers have an incentive to [...]
Luis Portillo, who is the major shareholder of Inmobiliaria Colonial, has agreed to transfer part of his stake to banks in order to repay debt.
Former Chairman Luis Portillo transferred 149.7 million shares, which account for 9.2 percent of the company, to Banco Popular, according to a regulatory filing released today. He also gave up 88.8 [...]
Repsol YPF, the owner of 25% of the Carioca oil field offshore Brazil, had a record gain in Madrid trading after the Brazilian authorities said the field is probably the largest oil discovery in the last three decades, and the third-largest ever drilled.
Repsol rose as much as 3.25 euros, or 14 percent, to 26.75euros, the [...]
Pescanova SA, Spain’s largest fish processor, gained as much as 12 percent in Madrid trading after Spanish newspaper “El País” reported that two people have recently died in the country from so-called mad cow disease. The report has been confirmed by the health ministry. This is the first victim of mad cow disease since 2005.
The shares added [...]
