The Ibex 35 was at 12,880 late this afternoon, up 2% on the day. Looks like the fears of a crash have subsided. Telefonica is up 2.4%, Repsol is up 3.7%, Santander is up 4.5%, BBVA is up 2.9%, Iberdrola is down 2%, and Endesa is up 1.2%.