Spanish Stocks: BBVA, Banco Santander, Gamesa Shares Are Active

Spain’s benchmark IBEX 35 Index climbed 269.2, or 2.8 percent, to 9,947.6 at the 5:30 p.m. close in Madrid, extending yesterday’s jump.

The following were among the most active stocks in the Spanish market. Symbols are in parentheses after company names.

Banco Santander SA (SAN SM), Spain’s largest bank, soared 5.1 percent to 8.23 euros. Spanish banks reduced their borrowings from the European Central Bank in November, according to a Bank of Spain official. Banco Bilbao Vizcaya Argentaria SA (BBVA SM) gained 4.2 percent to 7.91 euros.

Cie. Automotive SA (CIE SM) added 2 percent to 4.08 euros, extending yesterday’s advance. The Spanish car-parts maker will sell a stake of its Brazilian unit in an initial public offering during the “first part” of 2011, Chairman Antonio Pradera said in a phone interview. Cie. will post record sales in 2010, based on the company’s nine-month performance Pradera said.

Gamesa Corporacion Tecnologica SA (GAM SM) fell for a fourth day, dropping 1.2 percent to 5.05 euros. Spain’s largest maker of wind turbines hasn’t received any offers since UBS AG analysts named it as a potential buyout target in October and isn’t in discussions with any potential buyers, Chairman and Chief Executive Officer Jorge Calvet said.

Tecnicas Reunidas SA (TRE SM) climbed 2.4 percent to 44.19 euros, extending yesterday’s gain. Kepler Capital Markets added the engineering company was added to its European alpha list.

To contact the reporter on this story: Paul Tobin in Madrid at

To contact the editor responsible for this story: David Merritt at

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