Stocks Track Bonds Higher
May 19, 2011
The IBEX-35 index of the 35 most liquid stocks on the Madrid Stock Exchange rose 9.74 to 3963.07, while the Madrid General Index inched up 0.80 to end the day at 349.16. Stocks started the day lower in line with other European markets as investors nervously awaited the release of the U.S. jobs report. The nonfarm payrolls and unemployment data puzzled markets, sending bond prices in the U.S. sharply lower, then immediately higher, prompting buying in the Spanish bond market as well, traders said. Among actively traded shares, Gas Natural climbed 350 pesetas to 20,390 on volume of 119,371 shares as it bounced back somewhat from steep losses suffered over the past two sessions on Wednesday's news that the government plans to keep natural gas price increases below the rate of inflation.
VastPress 2011 Vastopolis
