European equities keep to maximums as Spanish sell-off relives

European equities keep to maximums as Spanish sell-off relives

On Tuesday, European equities hovered around three-month maximums because a sell-off in Spanish shares relieved and financials managed to gain reacting to another record-breaking session on Wall Street.

The STOXX 600 index didn’t change, while Spain's blue chip index acquired 0.1% because Madrid and Catalonia carefully assessed their next steps after Sunday's independence referendum, which has been declared illegal by the Spanish government.

Catalonia's secessionist leader dared to call for international mediation. On the contrary, Spanish Prime Minister Mariano Rajoy told he was looking for a joint response to this issue having met leaders of other political parties.

Catalonia-based banks Sabadell as well as Caixa gained respectively 0.3% and 1.5%, having both been affected hard by concerns surrounding the worst constitutional crisis in Spain for decades.

Spanish utility Iberdrola went down 1.5% after JP Morgan had the stock downgraded to neutral, telling that political uncertainty in the euro zone country contributed to a list of headwinds, although its Catalan assets turn to be relatively small.


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