Spanish stock market reaches 10,000 points for first time since July 2011

The IBEX-35 stock market in Madrid on Friday reached 10,001.8 points, surpassing the 10,000-point mark for the first time since July 2011, local media reported on Friday. The IBEX-35 rose by 0.84 percent by closing time, with the risk premium at 243.9 points and Spain's 10-year bond interest rate at 4.26 percent. The IBEX-35 had registered several annual highs thanks to optimism within the Spanish market despite the existing difficulties of the Spanish economy. This week saw the U.S. congress reach an agreement that avoided a default on the world's largest economy, which would have had a negative impact on other economies. Also, the Spanish treasury held two successful auctions this week where it placed more than expected, registering a high demand and paying lower interest rates. Spain's Economy Minister Luis de Guindos said international investors had changed their perceptions about the Spanish economy. De Guindos also said on Friday at a press conference after the cabinet meeting that macroeconomic imbalances had been corrected while assuring that the Spanish economy would grow in the following months.