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Spanish Stocks: Acciona, Bankinter, Service Point Shares Move

Nov. 16 (Bloomberg) -- Spain’s IBEX 35 Index lost 254.3, or 2.5 percent, to 10,095.4 at the 5:30 p.m. close in Madrid, erasing yesterday’s 1.2 percent gain.

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

Acciona SA (ANA SM) fell 6.6 percent to 55.15 euros, the stock’s steepest drop in more than six months and the IBEX 35 Index’s worst performance today. The Spanish construction company said its nine-month net income dropped 3.3 percent to 101 million euros ($137 million). Separately, Acciona was cut to “neutral” from “outperform” at Exane BNP Paribas.

Bankinter SA (BKT SM) fell for the first time in three days, losing 2.5 percent to 4.51 euros. The lender was cut to “neutral” from “overweight” at Banesto Bolsa.

Banco Popular Espanol SA (POP SM) slipped 2.5 percent to 4.22 euros, extending yesterday’s 2.4 percent loss. Spain’s third-biggest commercial bank plans to raise as much as 679 million euros ($923 million) by selling new shares and bonds to strengthen its finances. Separately, Popular was cut to “neutral” from “overweight” at Banesto Bolsa.

Service Point Solutions SA (SPS SM) sank 8.3 percent to 49.5 euro cents. Spain’s only publicly traded document-management company said its nine-month net loss widened to 5.05 million euros from a loss of 1.96 million euros a year earlier.

To contact the reporters on this story: Paul Tobin in Madrid at ptobin@bloomberg.net; Manuel Baigorri in Madrid at mbaigorri@bloomberg.net.

To contact the editors responsible for this story: Tim Quinson at tquinson@bloomberg.net; Angela Cullen at acullen8@bloomberg.net.

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