Aviso legal

Last updated 4 August 2026 · Ley 34/2002 (LSSI-CE), art. 10

Who runs this site

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ProviderJosé Luis Pascual
AddressCalle Manuela Malasaña 5, 28004 Madrid, Spain
Emailinfo@jlpascual.com
ActivityPublication of independent equity research by subscription
Sitejlpascual.com

José Luis Pascual is the provider of information society services (prestador de servicios de la sociedad de la información) responsible for this site, within the meaning of Ley 34/2002, of 11 July, on information society services and electronic commerce (LSSI-CE). He operates as an individual — empresario individual — established in Spain. This is not a company, and no company stands behind it.

What this service is — and is not

This is published research, not advice. Every subscriber receives the same reports. Nothing on this site is tailored to your circumstances, objectives, financial situation or risk tolerance, and nothing here should be read as a personal recommendation to buy, sell or hold any security.

The operator is not authorised or registered by the CNMV as an investment firm or as an empresa de asesoramiento financiero (EAF), and provides no service requiring such authorisation. Requests for individual advice will not be answered.

Who produces this research, how it is valued, what the ratings mean and the conflicts of interest are published at Research disclosures.

Terms of use

Access to the public parts of this site is free. Access to the research library requires a paid subscription and is personal to the subscriber. You may not share, resell, republish or systematically extract the reports.

The content of this site — text, valuations, charts, layout and source code — belongs to the operator and is protected by copyright. You may quote briefly with attribution and a link. You may not reproduce reports in whole or substantial part.

Liability

The research is prepared in good faith from sources believed to be reliable, but no warranty is given that it is accurate, complete or current. Valuations are estimates and depend on assumptions that may prove wrong. Investing involves risk of loss, including total loss. Past performance does not indicate future results. Decisions you take are your own.

Applicable law

Spanish law applies. Where you contract as a consumer, you keep the protection of the mandatory rules of the country in which you are habitually resident, and may bring proceedings in the courts of that country.

Complaints

Write to info@jlpascual.com. Every complaint is answered, and answered by the person named above.

The European Commission's online dispute resolution platform, which most Spanish legal notices still link to, ceased to operate on 20 July 2025: Regulation (EU) No 524/2013 was repealed by Regulation (EU) 2024/3228. There is therefore nothing to link to. The alternatives — the Spanish Sistema Arbitral de Consumo, and the European Consumer Centre network for consumers resident in other EU countries — are set out in the terms and conditions.

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José Luis Pascual · Calle Manuela Malasaña 5, 28004 Madrid, Spain · info@jlpascual.com