Spanish Stocks: Banco Santander, Codere, NH, Obrascon, Vertice Are Active

Spain’s IBEX 35 Index rose for a second day, gaining 170.3, or 1.6 percent, to 11,088.5 as of 9:07 a.m. in Madrid.

The following were among the most active stocks in the Spanish market today.

Banco Popular Espanol SA (POP SM) climbed for a second day, rising 1.7 percent to 5.632 euros. The lender is concluding the sale of as many as 800 branches, raising about 700 million euros ($936 million) for the bank, newspaper El Economista reported, without saying where it got the information.

Banco Santander SA (SAN SM) jumped 2.3 percent to 10.19 euros, a second day of gains. The Spanish lenders generated a capital gain of 233 million euros with the sale of stakes in two Brazilian companies.

Codere SA (CDR SM) dropped 1.5 percent to 8.13 euros, the third drop in four days. The Spanish operator of bingo clubs and casinos was removed from Banesto Bolsa’s list of top Spanish smallcap picks.

NH Hoteles SA (NHH SM) jumped 2.8 percent to 3.73 euros, extending a 2.7 percent gain on April 23. Spain’s largest business hotel operator was raised to “buy” from “hold” at Iberian Equities.

Obrascon Huarte Lain SA (OHL SM) gained for a second day, rising 2.5 percent to 23.40 euros. The builder was raised to “overweight” from “neutral” at Banesto Bolsa, which cited the growth prospects of the company’s highways outside Spain. Banesto boosted the share-price estimate to 25 euros from 17.9 euros, according to a note sent to investors.

Vertice Trescientos Sesenta Grados SA (VER SM) jumped 2.4 percent to 38.4 cents, extending a 2.2 percent advance on April 23. The company earned 1.3 million euros in the first quarter, compared with a loss of 2.2 million euros for the same period a year earlier. Earnings before interest, tax, depreciation and amortization climbed 96 percent to 5.2 million euros.

To contact the reporter on this story: Paul Tobin in Madrid at ptobin@bloomberg.net

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