Share prices rose more than 3.00% on Monday’s trading due to investor confidence in the likelihood of agreement between Greece and its creditors.
Share prices rose more than 3.00% on Monday due to investor confidence in the chances of an agreement between Greece and its creditors ahead of a summit of the euro area.
The Ibex 35 of the main values of the Spanish stock index gained 3.11% to 11285.20 points at 15h58 (13H58 GMT), after posting strong gains since the opening.
“The expectation of an early agreement between Greece and its creditors to allow clear the future of the Hellenic country is what explains that the bags have been opened with strong gains, “he told AFP Nuria Alvarez, an analyst at online brokerage Renta 4.
“The proposals submitted by the Greek government this weekend seem to be on track to bring positions with creditors,” he added.
The new proposals submitted by Athens to avoid a suspension of payments inexorably received the approval of the Eurogroup chairman Jeroen Dijsselbloem, which saw in them “an opportunity to reach an agreement.”
Almost all values of the Madrid selective were green and the increases were especially strong in the banking sector. Santander, first bank capitalization in the euro zone, grew 5.15% to 6.74 euros and BBVA climbed 3.41% to 9.33 euros.
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