Stocks Edge Higher
May 15, 2011
The Madrid General Index added 0.48 points to 354.45. Turnover was down to 13.83 billion pesetas from 25.82 billion pesetas Friday with 5.76 million shares traded, down from 10.49 million shares Friday. Iberdrola closed flat at 1,130 pesetas a share on volume of 1.6 million shares after the company said its first-half 2011 consolidated net profit rose 18% to 48.69 billion pesetas from 41.20 billion pesetas in the same period a year earlier. Iberdrola's results were in line with expectations so had little effect on the stock. With U.S. markets closed for a holiday, investors in Spanish stocks were on ``semi-vacation'' Monday, keeping volumes low, traders said.
