SPAIN DAYBOOK: Growth Likely Slowed, Risk Premium Touches Record
Spain’s statistics institute publishes its final assessment of economic growth in the third quarter as the government’s borrowing costs climb.
WHAT TO WATCH:
*The extra yield investors demand to hold Spanish 10-year government bonds instead of benchmark reached a euro-era record.
*Prime Minister Jose Luis Rodriguez Zapatero will attend an Socialist party event in Malaga, Spain.
*Spain’s National Statistics Institute reports third quarter Gross Domestic Product figures including a breakdown of its components. Economists output was unchanged from the previous three months in the initial estimate released last week.
*Banco Santander SA proposed to exchange nine securities with a value of 6.8 billion euros for new debt maturing in 2015.
*Abengoa SA’s third-quarter net income climbed to 108.8 million euros from 53.4 million euros a year earlier.
*Telefonica SA Chairman Cesar Alierta, Banco Santander SA’s Latin America head Francisco Luzon and Endesa SA Chairman Borja Prado speak at a conference in Madrid. Telefonica Chief Financial Officer Angel Vila speaks at a separate event in Barcelona.
*Quabit Inmobiliaria SA said net income rose 55 percent to 106 million euros ($143 million) in the first nine months compared with the year earlier period.
*The IBEX 35 Index fell 1.6 percent to 8,237.60.
*The spread between Spanish and German 10-year borrowing costs widened to 455 basis points.
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