Economic news

Spanish stocks drop after Catalonia election

Spanish shares slumped on Friday after three Catalan separatists parties won a majority in a regional election, renewing fears of a political crisis which has weighed on the economy and caused a business outflow from the region.

Spain’s IBEX 35 index tumbled 1.2% to 10,182.50, poised for its biggest one-day decline since late October.

The Stoxx Europe 600 index slipped 0.1% to 390.51, rising 0.6% for the week.

Germany’s DAX 30 index sank 0.1% to 13,100.82, while France’s CAC 40 lost 0.1% to 5,380.46.

The U.K.’s FTSE 100 index rose slightly 0.1% at 7,607.52.

The euro area and Spanish economies are growing at faster pace, interest rates and ECB's monetary policy are going to stay unchanged, and most traders are only looking at those factors.


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