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Spanish Stocks: Acerinox, Gamesa, Red Electrica Are Active

Spain’s IBEX 35 Index rose 1.6 percent to 10,822.7 at the 5:30 p.m. close in Madrid, paring this week’s decline to 2.2 percent.

The following companies rose or fell in Spanish trading. Stock symbols are in parentheses and share prices are from the previous close.

Acerinox SA (ACX SM) gained 5.4 percent to 13.44 euros. The stainless-steel producer reported a profit of 122.7 million euros ($169 million), compared with a net loss of 229.2 million euros a year ago, the company said.

Gamesa Corporacion Tecnologica SA (GAM SM) jumped 8.9 percent to 6.19 euros. The wind-energy company posted 2010 net profit of 50.19 million euros compared with analysts’ estimates of 49.3 million euros.

Red Electrica Corp. SA (REE SM) gained 2.1 percent to 38.56 euros. The manager of Spain’s power grid said full-year net income rose 18 percent to 390 million euros.

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