Ibex 35 recovered 4.22%, the biggest gain of the year, Santander's profits and Telefonica announced dividend increases
| Date: January 28, 2009 | Source: Europa Press |
| Category: Bags and Markets | |
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Loading ... The Madrid Stock Exchange closed today's session with a rise of 4.22%, the biggest increase since December 8, 2008, which placed the Ibex 35 in the whole level of 8701.5, driven by higher banking In particular, BBVA and Santander, today announced growth in its recurring profit.
Investors have regained confidence in the banking, allowing Spanish banks cut part of the punishment they have suffered in recent days also influenced by the news coming across the Atlantic, where the Senate Finance Committee has approved an aid package worth nearly 400,000 million, which raises the amount that should be discussed in the full House to 887,000 million euros.
Almost all values of selective lived a bright day, full of news. In particular, Banco Santander was up 13.39%, followed by BBVA (+7,87%), Mapfre (+7,11%) and Banco Popular (+7,06%). The other banks also closed in positive and was up 3% Banesto, Banco Sabadell and Bankinter 1.96% 1.85%.
Telefonica, which announced a 15% increase in its dividend in 2009, was up 1.82% or Iberia, which estimated that ended 2008 with net profit fell by 90.3%, was up 3.78% after announcing a Master Plan with ambitious goals and the announcement that it will improve its profitability.
The optimism has breathed banking markets on the recovery of the financial system has allowed allowed investors to overlook the fact that the International Monetary Fund (IMF) pronosticase a contraction of 1.7% in 2009 and 0.1% in 2010 for Spain and 0.5% growth this year for the entire global economy.
In addition, the IMF estimated today that the volume of loan assets originated in the U.S. subject to a potential deterioration in the hands of banks and other market participants could rise to 1.65 billion euros by the worsening credit conditions.
