The Spanish stock market continued its recovery on Wednesday opening with an overall increase of 1.38% after having risen another 1.69% on Tuesday. The large interest rate cut on Tuesday by the Federal Reserve helped stocks globally out of their free fall. On Monday the Spanish Bolsa saw the worse drop in years with the Ibex-35, Spain's main stock market index, closing at 12,625 points, for the first time since 2006 below the 13,000 points. The Ibex index, which now comprises only 33 groups instead of its usual 35, reached an historic high in early November of 15,945 points, only to lose more than 20% of its value in the first two weeks of 2008.
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