Around the World's Markets: Madrid

MADRID STOCKS set a fresh closing high on Tuesday, led once again by telecoms giant Telefonica and technology-related stocks. Dealers were not ruling out further gains in the short term. Telefonica rose 7.25 per cent to 24.85 euros.

The Ibex 35 blue-chip index rose 239.6 points or 2.12 per cent to 11,549.6 points, a record close having set a fresh life high at 11,570 points during the session.

"Spain's love of tech stocks seems to know no bounds," said one trader.