Spain outpaces European shares as BBVA, data fuel recovery bet

miércoles 4 de febrero de 2015 05:30 GYT

* Spain's Ibex up 0.5 pct, FTSEurofirst flat

* BBVA results, services data fuel Spain recovery bets

* Broader earnings picture mixed as LVMH beats, SHB misses

By Francesco Canepa

LONDON, Feb 4 (Reuters) - Spanish stocks outperformed flat-to-lower European indexes on Wednesday as results from bank BBVA and service sector data underpinned recovery expectations for the indebted country.

Shares in BBVA rose 4.6 percent after Spain's second-biggest bank posted better-than-expected revenues from lending in the fourth quarter and said it would now aim to grow more in its domestic market, where losses on loans are dropping.

BBVA echoed a positive update from larger peer Santander on Tuesday.

Further supporting sentiment on Spanish stocks, a poll showed on Wednesday Spain's service sector grew at its fastest rate in five months and firms hired staff faster as the country consolidated its return to economic expansion.

Spain's Ibex index index was up 0.5 percent at 0915 GMT, outperforming euro zone peers and the pan-European FTSEurofirst 300 index, which was flat at 1,478.90 points.   Continuación...