No Christmas Cheer for Spanish Stocks Hurt Again by Catalan Vote
Separatists Win Regional Election in Blow to Rajoy
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A win for pro-independence parties in Catalonia’s election just made things worse for Spanish stocks.
A slump of as much as 1.6 percent on the last trading day before Christmas consolidated the IBEX 35 Index’s place at the bottom of the heap among major euro-area peers in the past six months. The index, which reigned supreme among regional benchmarks as recently as May, has since suffered from political turmoil sparked by an October referendum on secession.