Arab Today, arab today spanish stocks fall after vote us stocks rally
Last Updated : GMT 05:41:07
Arab Today, arab today
Arab Today, arab today

Spanish stocks fall after vote; US stocks rally

Arab Today, arab today

Arab Today, arab today Spanish stocks fall after vote; US stocks rally

Spain's Ibex 35 index of most traded shares closed down 3.6%
New York - AFP

Spain's stock market tumbled 3.6 percent Monday after an election left the eurozone's fourth-largest economy in political limbo, while US stocks rallied to snap a two-session losing streak.
Spain faces a struggle to form a stable government following weekend elections that saw the incumbent conservatives score a win but not gain a majority, tailed by the long-established Socialists and upstart, far-left Podemos.

"The inconclusive outcome of Spain's general election increases the related risks of prolonged political uncertainty, and potentially a looser fiscal policy stance and/or a reversal of structural reforms," Fitch ratings agency said in a statement.

The polls cap a year of electoral change in southern Europe after Syriza swept to power in Greece in January and a coalition of leftist parties in Portugal pooled their votes in parliament to unseat the conservative government after an inconclusive election in October.

CMC Markets UK analyst Jasper Lawler said the vote was another sign of anti-establishment feeling in Europe brought on by discontent with austerity policies, and that the experience of Portugal showed that the emergence of a Socialist government in Spain would likely lead to a temporary jump in the government's borrowing costs.

Other European indices fell into the red at the latest retreat in oil prices. Brent North Sea crude for delivery in February finished at a fresh 11-year low.

Paris ended the day down 1.3 percent and Frankfurt 1.0 percent. London dipped 0.3 percent.

- US stocks gain -

In the US, the broad-based S&P 500 managed a 0.8 percent gain despite the grim outlook for oil.

"It's the first day the market is rising despite lower oil prices," said Jack Ablin, chief investment officer at BMO Private Bank.
"Maybe there is a growing sense that the equity market is not tied as closely to oil as it has been the last couple of weeks."

Analysts said a 3.3 percent drop in the S&P 500 on Thursday and Friday also positioned the market for gains due to bargain-hunting.

Most Asian markets rose on Monday, although Tokyo gave up 0.4 percent after Toshiba's stocks took a battering of nearly 10 percent following a weekend report in the leading Nikkei business daily that it would likely record a fiscal year net loss of about $4 billion.

In a statement after the markets closed Monday, Toshiba said it would post a record 550 billion yen ($4.5 billion) annual loss.

The 140-year-old company was this year hit by revelations that executives systematically pressured underlings to inflate profits in a years-long scheme to hide poor results.

Apple rose 1.2 percent as it reached an agreement with Swedish telecoms giant Ericsson to settle several patent disputes. Terms were not disclosed. US-traded shares of Ericsson climbed 4.2 percent.

Disney fell 1.1 percent despite reporting that "Star Wars: The Force Awakens" generated an estimated $238 million in US and Canadian box office sales, shattering the previous opening-weekend record by about $30 million.

- Key figures around 2200 GMT -

New York - Dow: UP 0.7 percent at 17,251.62 (close)

New York - S&P 500: UP 0.8 percent at 2,021.15 (close)

New York - Nasdaq: UP 0.9 percent at 4,968.92 (close)

London - FTSE 100: DOWN 0.3 percent at 6,034.84 points (close)

Frankfurt - DAX 30: DOWN 1.0 percent at 10,497.77 (close)

Paris - CAC 40: DOWN 1.3 percent at 4,565.17 (close)

EURO STOXX 50: DOWN 1.5 percent at 3,213.01 (close)

Tokyo - Nikkei 225: DOWN 0.4 percent at 18,916.02 (close)

Euro/dollar: UP to $1.0915 from $1.0870 late Friday

Dollar/yen: DOWN to 121.21 yen from 121.26 yen

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spanish stocks fall after vote us stocks rally Arab Today, arab today spanish stocks fall after vote us stocks rally

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday