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European Markes Set To Open Lower As Catalonian Separatists Gain Seats

By (David M. Frank) |  Market Overview  |  Nov 26, 2012 09:05AM GMT  |   Add a Comment
 
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European markets are set to open lower. The Spanish Government in a close vote avoided a crisis as separatists from Catalonia gained seats. These are people who want to separate from the rest of Spain.

The DAX is down 20 points, The CAC is down 15 points and the FTSE is trading 8 points lower in pre market trading at the time of this report.

Markets are shaken as separatist parties won a majority of votes in a regional election in Catalonia. The main party lost seats as a different separatist party got two thirds of the 135 seats in the local parliament.

As far as Greece, the EU ministers will meet today and investors expect progress for the beleaguered nation to receive €31.2 billion in aid to avoid a default on existing debt. However, international creditors remain divided on how to lower the country’s debt even further.

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