European stocks were almost flat as Spain’s IBEX rose by 2.5%

European equities

Bourses in Europe almost finished Thursday’s session flat, but still managed to rise by 0.16 percent as the market is currently keeping an eye on the upcoming data releases and political events.

Stocks from materials and construction have been the leading decliners amidst the trading session in the afternoon after a released report that suggested a possible step down of Swedish lock manufacturer Assa Abloy’s CEO. in line with this, the company lost as much as 5 percent in shares and immediately finished in the bottom of the European benchmark.

European stocks benchmark, Stoxx 600 managed to settle on a positive territory on Thursday by 0.16 percent, with mixed directions from its sectors. Meanwhile, stocks in the stateside all closed on record highs. The CAC 40 in France inched up by 0.30 percent, the DAX in Germany traded below the flat line by 0.02 percent and the FTSE 100 in the United Kingdom rose by 0.54 percent on the day.

Stocks in Spain rebounded with the IBEX 35 advancing as high as 2.5 percent following the news that suggested the Constitutional Court in the country will suspend a session of the Catalan Parliament next Monday. Amidst the possible suspension, leaders from Spain are forecasted to declare independence at the region.

According to a Reuters report, the stock market is perceiving an important sell-off ever since political uncertainties are rising. The national government has asked a favor to Catalina to go back to the path of law.


Leave a Reply

Your email address will not be published.