Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

SPAIN DAYBOOK: S&P Downgrades Greece, Spanish Treasuries Fall

May 10 (Bloomberg) -- The cost of insuring Greek bonds rose to a record after Standard & Poor’s cut the country’s credit rating, spurring losses for peripheral Europe’s government debt.

ECONOMY: *Standard & Poor’s cut Greece’s credit rating to B from BB-. *Finance Minister Elena Salgado attends Parliament at 4 p.m. *Prime Minister Jose Luis Rodriguez Zapatero speaks at party event in Santander at 7 p.m.

EQUITIES: *Actividades de Construccion y Servicios SA, Spain’s biggest construction company, is due to report first-quarter earnings after the market closes. Net income will decline to 242 million euros ($346 million), according to a Bloomberg survey of three analysts. *Almirall SA, the Barcelona-based pharmaceutical company said its Actikerall dermatological treatment was recommended for approval in seven European countries including Germany and the U.K. The company is scheduled to report first-quarter earnings. *Endesa SA, the Spanish power company, is due to report earnings before the market opens. * Viscofan SA, the Spanish sausage-casing maker, is scheduled to report first-quarter earnings after the market closes.

MARKETS: *The IBEX 35 Index fell 2 percent to 10,396.30 in Madrid. *The spread between Spanish and German 10-year borrowing costs widened to 222 basis points.

To contact the reporter on this story: Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.