Spain's retail sales slumped again in December, making the month the 30th in a row this sector has been in decline.
Nevertheless, the Madrid Ibex index was steady despite official figures from the National Statistics Institute proving the festive period was one of the most disappointing on record for the country's shops.
Sales plummeted in the midst of one of the worst consumer crises the debt-addled nation has ever experienced, while uncertainty remains for the troubled Iberian country.
Retail sales during the month fell by 10.7 per cent from the same period the year before, compared with November's 7.8 per cent slide, while retail sales for 2012 overall declined by 6.8 per cent year on year.
At 09:30 GMT, the Madrid Ibex rose by 0.1 per cent to 8655.4 points – an increase of 12.4 points, while the pan-European DJ Eurostoxx index was steady at 2750.9 points.
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