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Abengoa Leads Solar Gainers on Minister’s Comments: Madrid Mover

Abengoa SA, the biggest recipient of subsidies for solar-thermal power in Spain, rose to a five-month high, leading industry gainers, after Budget Minister Cristobal Montoro said he’ll stop plans to claw back money from companies.

Abengoa gained as much as 7.4 percent to the highest since March 28 in Madrid and rival solar-thermal developer Acciona SA jumped by the same amount. Montoro said in an interview he will veto Industry Ministry proposals for a tax on solar energy that’s aimed at curbing the debts of Spain’s power system.