The Spanish Ibex-35 index of leading shares rose 3.28 percent to 9,500.10 points in late morning trading on Friday, with banking stocks amongst the biggest gainers. Shares in Santander, the biggest Spanish bank, showed a rise of 5.96 percent to 8.513 euros while stock in BBVA, the country's second-biggest bank, was up 4.74 percent at 8.405 euros. Banco Popular rose 5.24 percent to 4.399 euros. Banking stocks were lifted by the quickening pace of consolidation of Spain's unlisted regional savings banks. The fragile state of their accounts had cast a shadow over the entire Spanish financial system. Sabadell bank said on Friday that it was studying a merger with another smaller lender, Banco Guipuzcoana. Sabadell shares rose 4.67 percent to 3.449 euros. All 35 companies which make up the index posted gains as market sentiment was boosted by rising hopes for global economic recovery boosted by positive economic news in Asia. 