eDreams Odigeo skids on market debut

MADRID, Apr 9 (AFP): Spanish online travel group eDreams Odigeo's share price tumbled as it listed on the Madrid stock exchange on Tuesday, a worrying sign for the richest new entry to the market in nearly three years.
Javier Perez-Tenessa, founder of the group which includes Go Voyages, Opodo and eDreams, rang the bell in the Madrid stock exchange's main hall to mark the start of trade in its stock.
But the stock closed down 3.82 per cent at 9.81 euros after shedding just over 6.0 per cent at the start of trading.
By comparison the Ibex-35 index of most traded Spanish shares closed down 1.19 per cent.
The sound of the bell announcing a new listing has barely been heard since summer 2011 when banking group Bankia arrived on the market, one year before it required a 20-billion-euro state rescue to avoid financial collapse.
During two years of recession, from which Spain emerged gingerly in mid-2013, the stock market lured hardly any new players.