Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

IBEX Steady as Spanish Turmoil Continues, Other European Markets Mixed

Published 10/17/2017, 03:36 AM
Updated 10/17/2017, 03:36 AM
Spanish stock exchange

Spanish stock exchange

Investing.com - Spain's benchmark index was little changed on Tuesday, while other European markets were mixed as political turbulence persisted in Spain and investors remained cautious ahead of the release of euro zone inflation data.

The EURO STOXX 50 added 0.03%, France’s CAC 40 inched up 0.04%, while Germany’s DAX 30 slipped 0.11% and Spain's IBEX 35 was up 0.03% by 03:40 a.m. ET (07:40 GMT).

Markets were jittery after the Spanish government said Catalan authorities must drop a bid for independence by Thursday.

The decision came after Catalan President Carles Puigdemont failed to clarify whether he has declared the region's independence.

Spain had initially issued a Monday deadline for Puigdemont to clarify his intent, or face direct rule. Instead, the Catalan leader called for negotiation over the next two months.

Financial stocks were mixed, as Societe Generale (PA:SOGN) gained 0.44% and BNP Paribas (PA:BNPP) slipped 0.20% in France, while Germany's Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) gained 0.06% and 0.37%.

Among peripheral lenders, Italy's Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) climbed 0.29% and 0.52% respectively, while Banco Santander (MC:SAN) added 0.04% and BBVA (MC:BBVA) slid 0.31% in Spain.

Elsewhere, Danone SA (PA:DANO) shares rallied 1.96% after the company reported an increase in third-quarter underlying sales, helped by rising demand in some of its products in China.

Infineon Technologies AG (OTC:IFNNY) added to gains, with shares up 1.98% after the German group said it had taken measures to correct a flaw in the encryption used for secure products that was revealed by researchers on Monday.

In London, commodity-heavy FTSE 100 dipped 0.05%, weighed by Merlin Entertainments PLC (LON:MERL), whose shares dove 19.26% after the company said that revenue grew in the year to date, but that comparable revenue stayed largely flat after its London sites were affected by bad weather and the effect of terror attacks.

ASOS (LON:ASOS) was also on the downside and shares tumbled 1.70% even as the online retailer reported a 34% climb in third-quarter retail salesm year-on-year.

Meanwhile, mining stocks were mixed on the commodity-heavy index. Shares Glencore (LON:GLEN) fell 0.25% and Fresnillo (LON:FRES) declined 0.42%, while Rio Tinto (LON:RIO) and BHP Billiton (LON:BLT) climbed 0.46% respectively.

In the financial sector, stocks were broadly higher. HSBC Holdings (LON:HSBA) added 0.19% and Lloyds Banking (LON:LLOY) gained 0.33%, while the Royal Bank of Scotland (LON:RBS) advanced 0.51% and Barclays (LON:BARC) jumped 1.11%.

Pearson PLC (LON:PSON) was one of the top performers on the index, as shares surged 5.47% after the education group saidin a trading update on Tuesday that "good progress" had been seen during the first half and that guidance remained unchanged for 2017.

In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.02% uptick, S&P 500 futures signaled a 0.05% loss, while the Nasdaq 100 futures indicated a 0.04% dip.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.