SPAIN DAYBOOK: Spain to Sell 6 Billion Euros at Bill Auction

Spain aims to sell a maximum of 6 billion euros ($8 billion) at a bill auction today, the Treasury said.

Spain offered a premium over its existing debt to sell 6 billion euros of bonds yesterday through a group of banks, while cancelling two bond auctions scheduled for Jan. 20.

WHAT TO WATCH: *Spain’s Treasury aims to sell a maximum of 6 billion euros at a bill auction today. *Bank of Spain releases data on lenders’ bad loans for November. *The Environment Ministry publishes Spain’s weekly hydropower reserves. *Spain’s National Statistics Institute reports November’s industrial orders and November’s services sector turnover.

ECONOMY: *Spanish Economy Minister Elena Salgado told reporters in Brussels that there are no preparations under way for a rescue plan for her country. Europe’s top-rated countries grappled with how to strengthen the 750 billion-euro rescue fund for debt-hit states as Portugal insisted it will get by without an aid package. *Russia, which suspended purchases of Spanish sovereign debt last year, may reconsider its position, El Pais reported, citing Russia’s Deputy Prime Minister Alexander Zhukov.

EQUITIES: *Prosegur Compania de Seguridad SA (PSG SM) trades for the first time without the right to collect a 2010 gross interim dividend of 23 euro cents per share. Banco Pastor SA (PAS SM) and Portugal’s Banco Espirito Santo SA held talks over a possible merger, Expansion reported, citing unidentified people with knowledge of the situation.

MARKETS: *The IBEX 35 Index fell 1 percent to close at 10,280. *The Stoxx Europe 600 Index was little changed, rising 0.1 percent to 284.06. *The spread between Spanish and German 10-year borrowing costs rose to 239.5 basis points yesterday.

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

To contact the editor responsible for this story: Angela Cullen at acullen8@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.