Madrid shares higher mid-afternoon on positive US data |
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Fri, 09 Mar 2007 15:20
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MADRID (AFX) - Shares were higher in mid-afternoon trade, recovering from earlier losses following positive key US data, dealers said.At 2.55 pm, the IBEX-35 index was up 56.70 points at 14,253.1, on turnover of about 2.1 bln eur.Equities opened flat, slipping into negative territory early on, amid profit taking, with trade cautious ahead of key US employment data due out later today.Positive US employment data and a greater than expected narrowing of the trade deficit buoyed shares mid-afternoon back into positive territory.Selected banks were higher, with Bankinter up 0.85 eur to 57.15, Sabadell 0.20 ahead at 35.27, BBVA up 0.07 to 18.37 and SCH up 0.03 to 13.84.Telefonica was up 0.13 to 16.22 and Repsol was 0.11 higher to 23.94.Inditex gained 0.60 to 44.51 while Gamesa was up 0.23 to 23.15.Sacyr Vallerhermoso, up 0.02 to 42.57 and Acerinox 0.07 higher at 19.41, reversed earlier losses.afxmadrid@afxnews.comcve/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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AFX European summary - midday 