Spanish Stocks: Bankinter, Santander, Telecinco, Sacyr Move

Spain’s IBEX 35 Index rose for a second day, rallying 192.2, or 1.8 percent, to 10,829.1 at the 5:30 p.m. close in Madrid, the highest level since October. The Madrid Stock Exchange General Index advanced 2 percent to 1,106.53.

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

Banco Santander SA (SAN SM) advanced 3.8 percent to 9.07 euros, extending yesterday’s gain, as banking stocks gained in the IBEX 35. Banco Bilbao Vizcaya Argentaria SA (BBVA SM) climbed 3.4 percent to 9.07 euros, the stock’s fourth consecutive increase. Banco de Sabadell SA (SAB SM) rose 2.1 percent to 3.63 euros. Banco Popular Espanol SA (POP SM) climbed 3.3 euros to 4.51 euros.

Bankinter SA (BKT SM) soared for a fourth day, adding 3 percent to 5.15 euros, the highest level in almost four months. Chief Executive Officer Maria Dolores Dancausa said the lender aims for profit growth of 20 percent in 2011 and she “wouldn’t be comfortable” with less than that. The outlook for this year is “rather better,” she told reporters in Madrid. Even so, the Spanish lender reported a slump in fourth-quarter profit as revenue from lending plunged.

Enagas SA (ENG SM) fell for the first day this week, losing 1.5 percent to 15.37 euros. The operator of Spain’s natural-gas grid forecast domestic and industrial demand for natural gas will fall 3.7 percent in February from a year earlier. The forecast doesn’t include demand from electricity generators, Madrid-based Enagas said.

Ferrovial SA (FER SM) advanced 3.9 percent to 8.63 euros, breaking two days of losses. The manager of highways and airports’ Cintra unit sold a 50 percent stake of Autopista Trados 45 SA to Finavias, an investment vehicle of Axa Private Equity, for 68.3 million euros ($92 million).

Gestevision Telecinco SA (TL5 SM) climbed 3.1 percent to 9.20 euros, the stock’s fourth straight gain. The Spanish broadcaster was raised to “overweight” from “equal weight” at Barclays Plc.

Quabit Inmobiliaria SA (QBT SM) increased for a second day, adding 2.6 percent to 8 euro cents. Grupo Rayet SAU said it hasn’t met the conditions set by Spain’s securities regulator in 2008 to exempt it from the requirement to make a takeover bid for Spain’s Quabit, a developer of residential real estate. Rayet will continue trying to meet the conditions, it said in a regulatory filing.

Sacyr Vallehermoso SA (SYV SM) climbed 2.5 percent to 6.23 euros, a 10th day of gains. The Spanish builder said shareholders agreed to buy 81.9 million euros of shares issued in a capital increase.

Service Point Solutions SA (SPS SM) advanced for a ninth day, gaining 5 percent to 46.2 euro cents for the longest winning streak since 1998. The Spanish document management company agreed to buy 100 percent of Holmbergs i Malmo AB.

Sol Melia SA (SOL SM) climbed 9.7 percent to 7.49 euros, breaking the last two days of losses. The hotelier is looking to raise 600 million reais ($359 million) to build four developments in Brazil, Valor Economico reported, citing Rui Manuel Oliveira, vice president of the company’s local unit.

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.

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