The IBEX 35 stock market index rallies 30% over 2009

The Spanish stock market main index, the Ibex 35, rose by 30% over 2009. In line with other bourses it showed a strong recovery from March when countries launched the stimulus packages around the world. The increase from March has been truly spectacular, up 75%. Some profit taking in the last session saw the index close below the 12,000 level at 11,940.
Banco Santander and BBVA have seen their share prices increase by 71% and 44% respectively over the year, and outside the banking sector Telefónica has seen a 23% revaluation.
The biggest climber was Técnicas Reunidas which has risen 117% over the 12 months.
However the prospects for next year are not so optimistic as smaller domestic companies are still hit by recession.

The Minimum wage in Spain rises by only 1.5% for 2010 to take it to 633 €. The final amount is half a point more than that proposed by the Ministry for Employment and 6.5 points lower than that demanded by the unions.
Meanwhile numbers show that board members of Spanish companies saw their wages increase on average over 2009 by 5.1%. Those who work in Ibex 35 companies are those to earn the most. Only 21% of the total number of listed firms are however fully meeting the recommendations on transparency for board member earnings.

Correos, Spanish post office, has announced a 6.25% or two cents increase in stamp prices which takes the national rate to 34 cents.
A similar increase of two cents will be seen on letters to Europe which will go up to 64 cents as a result. Other international destinations are ‘practically unchanged’. The increase is far above inflation, and almost double that seen last year.

The recession has lead to further falls in electricity demand in Spain with a 4.3% reduction seen in 2009. It’s the largest fall since 1959 when the statistics were compiled for the first time.

Standard and Poor’s rating agency has reduced its qualification for the regions of Aragón and Madrid. In both cases it has gone from AA+ to AA. It follows an earlier warning on the state of regional finances from Fitch, and Moody’s has already downgraded Cataluña, Castilla-La Mancha and the Valencia Community.

And finally,
A very happy new year to you. The Ministry for Industry has issued some recommendations on phone use this evening, with Miguel Sebastián indicating that calls to greet friends should be ideally made before midnight, given that the networks are generally overloaded between midnight and 2am. (Via Original Source)

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