Tecnicas Reunidas up after $1.1 bln contract win

ENKA Insaat ve Sanayi AS

18/04/2023 11:00

** Shares of Spanish engineering firm Tecnicas Reunidas
 TRE.MC  rise around 8% after disclosing a contract to build 1
billion euros ($1.10 billion) terminal in Germany in consortium
with FCC  FCC.MC  and ENKA  ENKAI.IS  
    ** The market is reacting positively as this contract was
not included in the order book of 10,732 million euros the
company announced until Feb. 28, Renta 4 analyst César
Sánchez-Grande says in a note
    ** "According to our estimates this contract could have a
scope of around 300/400 million euros, between 2.8% and 3.7% of
the order book", he adds
    ** Tecnicas Reunidas share on track for a best day since
November 2022, if gains hold
    ** Turkey-based ENKA shares up around 2% in morning trade
    

($1 = 0.9114 euros)
    

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))