Spanish stock market begins February with slight losses

The Spanish Ibex-35 stock market began February with further losses on Monday, starting the first session of the week and the new months with its value falling by 0.31 percent to close on 8,788.50 points, 27.3 points down on Monday's opening value.

January trading ended on Friday with 7.6 percent knocked off share values over the month and Monday was in general a volatile session in Spain dictated by a poor day for Spanish banks, despite positive results published by Bankia, which saw share values rise by 2.19 percent.

Other Spanish banks did not enjoy such a positive day's trading with Banco Popular having 3.71 percent knocked off share values, while shares in the BBVA dropped by 1.61 percent, Banco Santander 2.03 percent and Caixabank by 1.94 percent.

Meanwhile the decision by Ofcom to ask Brussels to refuse permission for Telefonica to sell O2 also provoked losses of 1.13 percent in the Spanish telecommunications giant, while Spanish petrochemical company Repsol's shares lost value to the tune of 3.01 percent.

Apart from Bankia, the positive notes were sounded by IAG whose shares continued to rally after Friday's good results, while supermarket chain Dia saw share values rise by 2.28 percent.

Meanwhile the political uncertainty in Spain kept the risk premium steady at 121.3 points: a drop of 0.08 percent, and the interest on the 10-year-bond closed the day's trading at 1.56 percent. Endit