Bonds Aid Market Gains
April 28, 2011
The Madrid General Index gained 1.99 points to 356.24. Volume was down to 17.98 billion pesetas from 70.61 billion pesetas Wednesday with 6.87 million shares traded -- down from 18.57 million shares Wednesday. Markets were closed Thursday in observance of the Feast of the Assumption religious holiday. Among actively traded shares, Tabacalera SA gained 40 pesetas to 5,030 pesetas a share on volume of 113,238 shares. The stock continued to recover ground Friday after plunging since late July on news of a government tax increase on tobacco. For Monday, traders expect the market to look at Friday's close of U.S. stocks for direction. All eyes are likely to be on the U.S. Federal Open Markets Committee meeting Tuesday for possible news on the direction of U.S. interest rates.
