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Spanish stock market rises slightly Tuesday

Xinhua, May 16, 2017 Adjust font size:

A late surge in share prices saw Spain's Ibex-35 share market close with minor gains for the second time this week, although the 0.22 percent increase in shares was not enough to take it through the 11,000 point barrier.

The Ibex-35 began trading on 10,957.80 points and ended on 10,982.40 points Tuesday.

Tuesday's trading was affected by the announcement that Basque telecom provider, Euskaltel, has completed the purchase of Telecable for just under 700 million euros to become the biggest service provider in the north of Spain.

Supermarket chain DIA was the biggest winner of the day, with share prices climbing by 2.22 percent, while energy companies Red Electrica, Iberdrola and Endessa all saw healthy gains.

Meanwhile, the risk premium dropped by 0.25 percent to 118.4 points and interest on the Spanish 10-year-bond stood at 1.62 percent. Endit