Spain’s IBEX 35 Index surged the most in more than six months, rising 411.2, or 4.4 percent, to 9,678.4 at the 5:30 p.m. close in Madrid.
The following were among the most active stocks in the Spanish market. Symbols are in parentheses after company names.
Banco Bilbao Vizcaya Argentaria SA (BBVA SM) jumped 7.3 percent to 7.59 euros, leading gains among Spanish banks, after Deutsche Bank AG Chief Executive Officer Josef Ackermann said investors’ mistrust of Spain is unjustified and problems in the banking industry are “manageable.” Banco Santander SA (SAN SM) soared 7.2 percent to 7.82 euros, the biggest gain in almost six months.
Faes Farma SA (FAE SM) jumped 13 percent to 2.71 euros, the biggest increase in 23 months. The pharmaceutical company said it won approval to sell its allergy treatment Bilastina in Spain.
Gas Natural SDG SA (GAS SM) rose for a second day, adding 5 percent to 10.93 euros. The utility completed the 46.9 million- euro ($61.3 million) sale of some transmission assets to Red Electrica Corp. SA (REE SM). Red shares gained 2.6 percent to 34.58 euros.
Obrascon Huarte Lain SA (OHL SM) climbed 9 percent to 21.87 euros for the IBEX 35’s best performance today. The builder bought 50.1 percent of U.S. construction company Judlau Contracting Inc. for $72.5 million. OHL can acquire the remaining 49.9 percent of the company from 2015, using an option.
To contact the reporter on this story: Paul Tobin in Madrid at firstname.lastname@example.org.
To contact the editor responsible for this story: Tim Quinson at email@example.com.