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IBEX 35 Drops After Independence Vote, Other European Markets Open Higher

Published 10/02/2017, 03:40 AM
Spanish stock market
UK100
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FCHI
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DE40
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ES35
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STOXX50
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HSBA
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BARC
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LLOY
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EZJ
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NWG
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TLIT
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LHAG
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DBKGn
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CBKG
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BNPP
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SOGN
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VIV
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BBVA
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SAN
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RIO
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AAL
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BHPB
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ISP
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CRDI
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ESZ24
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1YMZ24
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NQZ24
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GLEN
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Investing.com - Spain's benchmark index dropped on Monday, after Catalans voted for independence in a contested referendum on Sunday that ended in violence when police cracked down on polling booths, injuring hundreds of people.

The EURO STOXX 50 rose 0.34%, France’s CAC 40 edged up 0.12% and Germany’s DAX 30 advanced 0.49%, while Spain's IBEX 35 was down 0.86% by 03:40 a.m. ET (07:40 GMT).

Despite Spanish police measures to disrupt the referendum, which was declared unconstitutional by Madrid, the Catalan government said that 90% of the people voted in favour of breaking away, with a turnout of about 42%.

The Catalan government also blamed Madrid for the clashes on Sunday and called on the European Union to respond.

Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) rose 0.25% and 0.27%, while Germany's Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) advanced 0.26% and 0.92%.

Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) gained 0.01% and 0.50% respectively. However, Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) both tumbled 1.47%.

Elsewhere, Deutsche Lufthansa AG (DE:LHAG) shares surged 2.85%, still supported by news last week that the airliner's board approved a €1 billion investment in the "acquisition and leasing" of 61 aircraft for low-cost subsidiary Eurowings.

On the downside, Telecom Italia (MI:TLIT) slid 0.44% following news late last week thqt Italy has launched a process that could end with the group being fined for failing to notify Rome that French media group Vivendi (PA:VIV) had assumed de facto control of the phone company.

Vivendi shares were down 0.51% in early European trade.

In London, commodity-heavy FTSE 100 rose 0.29%, supported EasyJet PLC (LON:EZJ) for a second consecutive session, with shares up 4.52% following news on Friday that the airliner paired with U.S. firm Wright Electric to develop a battery-powered aircraft fleet that can be used for its short haul flights.

Mining stocks were also broadly higher on the commodity-heavy index. Shares in BHP Billiton (LON:BLT) and Glencore (LON:GLEN) jumped 1.03% and 1.52%, while Rio Tinto (LON:RIO) rallied 1.57% and Anglo American (LON:AAL) soared 2.58%.

Financial stocks added to gains, as HSBC Holdings PLC (LON:HSBA) eased up 0.09% and Lloyds Banking (LON:LLOY) added 0.16%, while the Royal Bank of Scotland (LON:RBS) rose 0.22%. Barclays (LON:BARC) underperformed however, with shares slipping 0.10%.

In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.13% rise, S&P 500 futures signaled a 0.10% gain, while the Nasdaq 100 futures indicated a 0.07% uptick.

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