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Spanish banks and utilities stocks hit as election unnerves investors

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Last updated 18 dezembro 2024
Spanish banks and utilities stocks hit as election unnerves investors
Spain faced political gridlock on Monday after right-wing parties failed to clinch a decisive victory and no clear winner emerged in Sunday's national election. Madrid's IBEX 35 equity benchmark index fell as much as 1.8% in early trading and was last down 0.7%. "The generalised falls are due to the fact that the market is expecting either a weak government or an election ahead," said Natalia Aguirre, head of analysis at Renta 4.
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