March 16 (Bloomberg) -- Spain’s IBEX 35 index sank 237.1, or 2.3 percent, to 10,092.6 at the 5:30 p.m. close in Madrid, the lowest level in more than two months. The Madrid Stock Exchange General Index also retreated 2.3 percent today.
The following were among the most active stocks in the Spanish market. Symbols are in parentheses after company names.
Banco Bilbao Vizcaya Argentaria SA (BBVA SM) dropped 4 percent to 8.54 euros, paring three days of gains. Banks led declines on the IBEX 35 today as Moody’s Investors Service downgraded Portugal’s debt rating. Banco Santander SA (SAN SM) slumped 3.2 percent to 8.03 euros. Bankinter SA (BKT SM) slipped 3.8 percent to 4.71 euros. Banco Popular Espanol SA (POP SM) fell 3.4 percent to 4.20 euros.
Grupo Empresarial San Jose SA (GSJ SM) jumped 2.4 percent to 5.63 euros, erasing yesterday’s drop. Fingano SA, formed by Grupo Empresarial San Jose, Corporacion America and Contreras Hermanos, won a contract to build a 50 megawatt wind park in Maldonado, Uruguay, San Jose said.
Inmobiliaria Colonial SA (COL SM) fell for a second day, sliding 1.4 percent to 7.3 euro cents. The Spanish real estate company was cut to “sell” from “neutral” at UBS AG.
Prosegur Cia de Seguridad SA (PSG SM) rose 2.4 percent to 38.86 euros, breaking seven days of losses. The security services provider was rated “buy” in new coverage at Equita SIM.
Telefonica SA (TEF SM) dropped the most since November, slumping 1.8 percent to 16.93 euros. Europe’s second-largest phone company was cut to “underperform” from “neutral” at Exane BNP Paribas.
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