U.K. Holiday Slows Trading
May 08, 2011
The Madrid General Index fell 2.14 to 355.31, after inching up 0.6 on Friday. Volume was a light 10.54 billion pesetas from 29.13 billion pesetas Friday with 4.28 million shares traded, down from 11.16 million shares Friday. The ten-year benchmark bond was priced at 107.68, to yield 8.89%, compared with 107.97 late Friday, to yield 8.84%. Among specific shares, Repsol shed 35 pesetas at 4,040 pesetas a share on volume of 288,331 shares, following the market lower. Repsol shares were unaffected by Monday's explosion at one of its refineries in central Spain, in which four workers were killed, traders said. Because the boiler accident didn't affect production at the 140,000-barrel-a-day-capacity Puertollano facility, traders said the news didn't prompt selling. Traders expect the market to open lower Tuesday, since it declined steadily throughout the session Monday. Investors are likely to move cautiously until the government outlines its 2012 budget plans. The government must present its 2012 budget to Parliament for debate by June 13, 2011
