Spanish stock market recovers slightly

17th August 2007, Comments 0 comments

17 August 2007, MADRID (dpa) - Spain's blue-chip index, the Ibex-35, slowed its downward slide to 0.09 percent by midday on Friday, reducing the losses of the stock market which on Thursday lost the gains of the whole previous eight months.

17 August 2007

MADRID (dpa) - Spain's blue-chip index, the Ibex-35, slowed its downward slide to 0.09 percent by midday on Friday, reducing the losses of the stock market which on Thursday lost the gains of the whole previous eight months.

After an initial recovery during the morning, the Ibex lost 12 points, standing at 13.977.

The recovery was led by the banking sector, with Santander up 1.84 percent, BBVA up 1.39 percent, Sabadell and Popular more than 1 percent and Bankinter 0.68 percent.

Energy sector companies Repsol YPF and Endesa rose 0.35 percent and 0.10 percent respectively. Telecommunications giant Telefonica dropped 0.12 percent, and the electricity supplier Iberdrola 1.26 percent.

Analysts said the Spanish stock market evolved in line with other European markets.

(Copyright DPA with Expatica 2007)

Subject: Spanish news

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