Spanish Stocks: BBVA, Grifols, Duro Shares Move in Madrid Trade

Spain’s IBEX 35 Index rose for the first day in five, adding 144.3, or 1.5 percent, to 9,582.1 at the 5:30 p.m. close in Madrid. The Madrid Stock Exchange General Index advanced 1.5 percent to 974.14.

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

Bankinter SA (BKT SM) rose 4.3 percent to 3.90 euros, snapping three days of losses and the stock’s steepest gain in more than one month. Spain’s Treasury has contacted a group of banks to sell them as much as 6 billion euros ($7.8 billion) in 10-year bonds without going through an auction process, El Mundo reported.

Separately, Societe Generale SA lifted its stance on European banks to “overweight,” saying in a note that “a bout of bank outperformance is around the corner,” and “the banking sector is very oversold relative to the market.”

Banco Popular Espanol SA (POP SM) climbed 2.2 percent to 3.62 euros. Banco Bilbao Vizcaya Argentaria SA (BBVA SM) added 2.2 percent to 7.07 euros. Banco Santander SA (SAN SM) advanced 1.7 percent to 7.52 euros.

Duro Felguera SA (MDF SM) rose 4 percent to 5.18 euros, snapping three days of losses. The designer and builder of power plants said it won a refinery contract in Belarus valued at 128 million euros.

Grifols SA (GRF SM) climbed 3.1 percent to 10.43 euros. The Spanish company plans to sell $1.1 billion of debt maturing in 2018 as soon as this week, according to a person familiar with the offering. Proceeds will be used to fund the company’s acquisition of Talecris Biotherapeutics Holdings Corp., said the person, who declined to be identified because terms aren’t set.

Iberdrola Renovables SA (IBR SM) fell 0.7 percent to 2.53 euros, the shares’ fifth-straight loss. The world’s biggest producer of wind energy was cut to “equalweight” from “overweight” at Barclays.

Iberia Lineas Aereas de Espana SA (IBLA SM) climbed 1.7 percent to 3.69 euros, paring yesterday’s loss. British Airways Plc’s cabin-crew union offered to hold talks with the carrier 10 days before a strike ballot over pay, hours and perks ends on Jan. 21 and pledged not to call a walkout to disrupt April’s royal wedding.

Indra Sistemas SA (IDR SM) increased 3.9 percent to 12.89 euros, breaking four days of losses. Spain’s largest computer- services company was raised to “buy” from “hold” at Deutsche Bank AG.

Mapfre SA (MAP SM) soared 7 percent to 2.18 euros for the best performance at the IBEX 35 Index today.

European stocks climbed, rebounding from a two-day retreat, as Japan pledged to buy euro-area bonds, joining China in helping to alleviate the region’s debt crisis.

Abengoa SA (ABG SM) rose 5.9 percent to 18.19 euros. Sacyr Vallehermoso SA (SYV SM) added 5.7 percent to 4.86 euros.

Repsol YPF SA (REP SM) climbed 1.7 percent to 20.76 euros, breaking four days of losses. Banco Bilbao Vizcaya Argentaria SA boosted its stake in Repsol to 3.28 percent from 2.48 percent, after buying 9.8 million shares of the Spanish petroleum company, La Vanguardia newspaper reported, without citing anyone.

Telefonica SA (TEF SM) rose for the first time in five days, adding 0.9 percent to 16.74 euros. Europe’s second-largest phone company plans to offer mobile-phone service in Costa Rica by the end of 2011 after bidding $95 million for a wireless license. The 15-year license must still be approved by regulators, Madrid-based Telefonica said in an e-mailed statement.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.