Gas Natural Shares Slump
May 18, 2011
The IBEX-35 index of the 35 most liquid stocks on the Madrid Stock Exchange lost 12.89 points to 3953.33, and the Madrid General Index fell 0.96 point to 348.36. Gas Natural lost 1,540 pesetas to 20,040 pesetas on volume of 393,394 shares. Gas Natural was hard-hit after the government announced this week that it will lower the allowable increase in the price of natural gas sold for home consumption, in an effort to lower inflation. With July inflation at 3.7% year-on-year, the decision took many market players by surprise, traders said.
