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Madrid stock market closes up 4.96 percent

MADRID : The Madrid stock market closed nearly five percent higher on Thursday, after European leaders agreed new measu
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By Imad Uddin
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MADRID: The Madrid stock market closed nearly five percent higher on Thursday, after European leaders agreed new measures to tackle a debt crisis in the eurozone.

The Ibex 35 leading stock index closed 4.96 percent higher at 9,270.5 points. There were strong gains for the Spanish banks which have said they must raise tens of billions of euros to meet EU capitalisation demands and will now be helped by fresh funding.

 

Copyright AFP (Agence France-Presse), 2011

 

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