Spanish stocks plunge 1.9 percent

16th August 2007, Comments 0 comments

16 August 2007, MADRID (dpa) - Spanish shares continued their downward slide on Thursday, dropping by 1.9 percent after the Madrid stock exchange opened in the morning.

16 August 2007

MADRID (dpa) - Spanish shares continued their downward slide on Thursday, dropping by 1.9 percent after the Madrid stock exchange opened in the morning.

The biggest losses were registered by the wind turbine maker Gamesa, which went down by 4.34 percent, the media company Sogecable, 3.38 percent, and the Sabadell bank, 2.67 percent, according to the Ibex-35 index.

Among the stock market heavyweights, the oil company Repsol YPF lost 2.53 percent, the BBVA bank 2.39 percent, the Santander bank 2.07 percent and the telecommunications giant Telefonica 1.63 percent.

The energy suppliers Iberdrola and Endesa fell 1.75 percent and 0.13 percent, respectively.

Analysts linked the drop to the general downward slide in European markets.

(Copyright dpa with Expatica 2007)

Subject: Spanish news

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