Profit-Taking Pressures Shares
May 11, 2011
The IBEX-35 index of the 35 most liquid stocks on the Madrid Stock Exchange lost 38.28 points to 4046.18, and the Madrid General Index fell 2.79 points to 355.69. Among specific shares, Corporacion Mapfre Cia. International de Reaseguros rose 70 pesetas to 6,120 on volume of 57,402 shares after its first half results came in better than expected Thursday. Also, some investors may have been pleased with the results of some of Mapfre's subsidiaries, traders said. Repsol advanced 25 pesetas to 4,110 on volume of 1.2 million shares. The company said Thursday that its first half consolidated net profit fell 1.1% to 61.45 billion pesetas from 62.16 billion pesetas in the same period in 2010. The results were in line with expectations, traders said.
