U.S. Recovery Spurs Gains
April 04, 2011
The Madrid General Index added 2.24 to 355.69, following Monday's drop of 4.74. Volume was mixed at 25.56 billion pesetas from 24.98 billion Monday with 11.25 million shares traded -- down from 12.08 shares Monday. Telefonica de Espana led the market in terms of volume. Its shares slipped 15 pesetas to 2,135 on volume of 3.1 million shares. Stocks traded as American depositary receipts, including Telefonica, have been hard-hit lately by wariness over the U.S. stock market. Banking group Banco Bilbao Vizcaya led banks in terms of volume, with a gain of 90 pesetas to 5,480 on volume of 235,372 shares. The market largely ignored news that the Bank of Spain decided earlier Tuesday to leave its benchmark interest rate unchanged at 7.25%, and traders said they expect the Spanish market to follow the direction of U.S. shares again Wednesday.
VastPress 2011 Vastopolis
