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Spanish stocks, financials tumble on Catalan separatist gains; IBEX down 1%

Spain's 10-year borrowing costs rose 5 basis points to a one-month high of 1.52 per cent in early trades, before settling back at 1.49 per cent

Reuters  |  LONDON 

Spanish stocks and the euro fell, while Spanish government bond yields hit their highest levels in over a month after Catalan separatists wanting to break away from Spain won a regional election. Separatist parties won a slim majority in the parliament of the wealthy Spanish region of Catalonia, a result that looks likely to prolong political tensions which have damaged Spain's economy and prompted a business exodus from the region. The result battered Spanish stocks, with Spain's IBEX falling as much as 1.1 per cent as European bourses opened. Financial stocks were the ...

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First Published: Fri, December 22 2017. 15:15 IST