Spanish Shares Move Down
May 03, 2011
The IBEX-35 index of the 35 most liquid stocks on the Madrid Stock Exchange lost 24.45 points to 3997.78, and the Madrid General Index slipped 1.89 points to 352.14. With the help of bargain hunters, Columbus continued climbing up from the drop it suffered following a cigarette tax hike announced in late July, traders said. The stock advanced 110 pesetas to 5,150 on volume of 215,523 shares. Spanish shares sank throughout the session as expectations faded that the Deutsche Bundesbank would lower German interest rates Thursday. The market dipped further when U.S. stocks opened lower in the European afternoon, traders said.
