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SBD Global/September 10, 2013/Olympics

Stocks In Top Spanish Construction Firms Fall After Madrid's Failed Olympic Bid

Spanish construction companies have "noticed the biggest declines in their values" in Spanish exchange index IBEX 35's first ratings update to Spain's primary stock market, Bolsa de Madrid, since Madrid lost its bid to host the 2020 Olympics on Saturday, according to the EP. On Monday, the index had fallen .63% and "put at risk the level at which the index closed the previous week -- at 8,600 points." Spanish construction firms lost the most, "with ACS's stock dropping 2.11% and FCC falling 1.87%, followed by Acciona, which fell 1.74%" (EP, 9/9).

BARCELONA MAYOR CONFIDENT: MARCA reported Barcelona Mayor Xavier Trias said that he is "strongly in favour" of presenting the city as a candidate for the 2022 Winter Olympics. Trias: "In Spain, only Barcelona could compete with Tokyo and Istanbul. The Barcelona brand is stronger than Istanbul and almost as strong as Tokyo." Trias said that he has "the backing of the government for Barcelona 2022" and hopes to receive "the go-ahead from the Spanish Olympic Committee (COE)" (MARCA, 9/9).

MADRID MAYOR MOCKED: In Barcelona, Asier Martiarena reported Madrid Mayor Ana Botella's presentation to IOC voters prior to the decision on the 2020 Olympic host city pointed out that Madrid "is fun" and said that "nobody enjoys life the way that Spanish people do." Botella also said that the "best way to appreciate this is to drink coffee in Madrid's Plaza Mayor." This topic "was very different from what Tokyo promised to the IOC, as Tokyo discussed the city's economic potential, organization and audience." Social networks "have boiled, with Botella's performance becoming a target of mockery" (LA VANGUARDIA, 9/9).   
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Related Topics:

Olympics, Europe

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