Late recovery means Spanish Ibex-35 stock index closes with small gain

Source: Xinhua| 2017-10-04 01:45:25|Editor: Mu Xuequan
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MADRID, Oct. 3 (Xinhua) -- An afternoon recovery in share prices on Tuesday meant that the Ibex-35 share index in Spain closed with minuscule gains on 0.02 percent on another day of trading marked by the continued uncertainty over the Catalan region in the wake of Sunday's independence referendum.

Tuesday saw a general strike in Catalonia in protest at the police actions during the illegal referendum, with the regional authorities declaring it had been followed by around 70 percent of public employees.

This clearly brought nerves to the morning session and after closing on 10,255.70 points on Monday evening, the Ibex opened with important losses before lunch, falling as low as 10,151.10 points before beginning a continual recovery which saw it finish the day on 10,257.50.

That recovery was led by Siemans Gamesa, whose shares climbed by an impressive 5.18 points, while airline group AIG, who could benefit from the collapse of Monarch, saw share prices climb by 2.12 percent and Barcelona based Caixabank bounced back after seeing shares fall on Monday following the referendum.

Construction and Infrastructure company, ACS, was the day's biggest loser with share prices dropping by 1.69 percent while it was a bad day for energy producers Iberdrola and Enagas, whose share values depreciated by 1.30 and 1.16 percent respectively.

Meanwhile, the Spanish Risk premium remained on 125.1 points, while interest on the 10-year-bond closed on 1.71 percent.

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