Spain’s IBEX 35 Index slumped to its lowest level since June 10, falling 229.1, or 2.5 percent, to 9034.3 at 9:51 a.m. in Madrid, as all 35 members declined.
The following are among the most active stocks in the Spanish market today.
Banco Bilbao Vizcaya Argentaria SA (BBVA SM) fell 35 cents, or 4 percent, to 8.26 euros and Banco Santander SA (SAN SM) dropped 34 cents, or 3.9 percent, to 8.40 euros. Spain’s top credit ranking was placed on review for a possible downgrade by Moody’s Investors Service.
Telefonica SA (TEF SM) dropped 1.6 percent to 15.02 euros, erasing yesterday’s 1 percent rise. The company extended its billion-euro offer for Portugal Telecom SGPS SA’s stake in Brazil’s largest wireless operator until July 16 on optimism the European Union will void Portugal’s power of veto.
via Spanish Stocks: BBVA, Ferrovial, Telefonica and Santander – BusinessWeek.
