S&P lifts outlook on Spain to stable.

S&P has upgraded its outlook on Spain to stable from negative and affirmed the country's sovereign-debt rating at BBB-/A-3. The agency expects that the country's GDP will shrink 1.2% in 2013 but recover to growth of 0.8% next year and 1.2% in 2015, lifted by strong exports. S&P also believes that the government will hit its 2014 budgetary deficit target of 5.8%. The IBEX 35 was +0.4% at the time of writing.