Spanish Stocks: Europac, Iberia, Jazztel, Telecinco Shares Move
Spain’s IBEX 35 Index (IBEX) dropped for the first day in five, losing 105.1, or 1 percent, to 10,280 at the 5:30 p.m. close in Madrid. The Madrid Stock Exchange General Index (MADX) fell 1.1 percent to 1,048.31.
The following were among the most active stocks in the Spanish market. Symbols are in parentheses after company names.
Antena 3 de Television SA (A3TV SM) plunged 4.3 percent to 7.34 euros, erasing an advance of 1.1 percent on Jan. 14. Spain’s second-largest commercial television station was cut to “neutral” at Credit Suisse Group AG.
Bankinter SA (BKT) fell 1.7 percent to 4.47 euros, after four days of increases. Spanish banks were among the biggest decliners today in Madrid. Banco Santander (SAN) dropped 1.1 percent to 8.40 euros. Banco Bilbao Vizcaya Argentaria SA (BBVA) slid 1.6 percent to 8.20 euros. Banco Popular Espanol SA (POP) fell 1.1 percent to 4.09 euros.
Fomento de Construcciones y Contratas SA (FCC SM) dropped 1.6 percent to 18.71 euros, snapping five days of increases. The Spanish builder delayed plans to extend a 260 million-euro ($346.4 million) solar thermal power project near Cordoba which it is building with Mitsui & Co., Cinco Dias reported.
Gestevision Telecinco SA (TL5) (TL5 SM) slumped 3.8 percent to 8.73 euros. Spain’s largest commercial television station was cut to “neutral” at Credit Suisse Group AG.
Iberdrola Renovables SA (IBR SM) advanced for a fourth day, adding 0.9 percent to 2.67 euros. The world’s biggest producer of wind energy said power production rose 18 percent last year to 25,405 gigawatt hours. The company’s installed capacity increased 17 percent to 12.5 gigawatts, the company said in a regulatory filing.
Iberia Lineas Aereas de Espana SA (IBLA SM) rose 1.7 percent to 3.62 euros, paring two days of losses. Spain’s biggest airline said the new International Airlines Group will start trading in Spain and the U.K. on Jan. 24 at 9 a.m.
Separately, Richard Branson, the billionaire founder of Virgin Atlantic Airways Ltd., said the carrier plans to join a global alliance, though he doesn’t foresee forging any deal that would end his control of the airline.
Jazztel Plc (JAZ) climbed 1.3 percent to 3.81 euros, extending a gain of 3.9 percent on Jan. 14. The phone company may have reached full-year sales of as much as 610 million euros last year, Expansion reported, citing Chief Executive Officer Jose Miguel Garcia.
Papeles y Cartones de Europa SA (PAC SM) advanced for a fourth day in five, climbing 1.7 percent to 3.4 euros. The paper products-maker, known as Europac, said it expects the recovery in its business in 2010 to continue and its executive committee will recommend the payment of a dividend for 2010.
To contact the reporter on this story: Manuel Baigorri in Madrid at firstname.lastname@example.org