Spanish stock market closes lower

Madrid, Feb 24 (IANS) The Spanish stock market index Ibex-35 fell 1.42 percent to close at 8,267.60 points, down from 8,387 points of the previous session.

ArcelorMittal shares led falls losing 4.24 percent, followed by Sacyr, Repsol, Acerinox, BBVA and Indra A that lost 3.42 percent, 3.30 percent, 3.16 percent, 2.78 percent and 2.73 percent respectively on Tuesday, Xinhua reported.

On the other hand, OHL shares led rises climbing 6.85 percent, followed by IAG, Bankia, ACS and Amadeus that rose 2 percent, 1.47 percent, 1.31 percent and 0.91 percent respectively.

Meanwhile, Spain’s risk premium closed at 146.90 points, which was slightly below the 148.60 points of Monday.

Spain’s 10-year bond interest rate stood at 1.65 percent on Tuesday closing time, showing no big differences when compared with Monday.

US stocks retreat amid falling oil

 US stocks pulled back in the morning session as Wall Street digested mixed economic reports amid declining oil prices.

The Dow Jones Industrial Average fell 159.98 points, or 0.96 percent, to 16,460.68 on Tuesday, Xinhua reported.

The S&P 500 lost 18.71 points, or 0.96 percent, to 1,926.79. The Nasdaq Composite Index was down 49. 84 points, or 1.09 percent, to 4,520.77.

The volatility in oil prices has dominated market sentiment recently.

Oil prices fell about 4 percent around on Tuesday after the previous day’s solid gains, amid doubts a potential production freeze will have any impact on a supply glut.

On Monday, US stocks posted solid gains as a strong rebound in oil prices boosted Wall Street sentiment.

US dollar rises amid mixed data

 The US dollar increased against most major currencies amid mixed economic data from the country and rising concerns that Britain may leave the European Union (EU).

In late New York trading on Tuesday, the euro fell to $1.1014 from $1.1027 of the previous session, and the British pound decreased to $1.4022 from $1.4147, Xinhua news agency reported.

The Australian dollar went down to $0.7214 from $0.7229.

The US dollar bought 112.00 Japanese yen, lower than 112.79 yen of the previous session.

The dollar declined to 0.9920 Swiss franc from 0.9987 Swiss franc but rose to 1.3758 Canadian dollars from 1.3713 Canadian dollars.

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