11/13/2019, 10:47 AM (Source: TeleTrader)
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Spanish stocks slide as PSOE, leftists form coalition

Stocks in Spain slid on Wednesday as investors digested the news that Prime Minister Pedro Sanchez' Spanish Socialist Workers' Party (PSOE) reached an agreement to form a coalition government with far-left Podemos after no party managed to secure a majority in Sunday's general election.

The IBEX 35 dropped 1.38% at 10:29 am CET with the banking sector leading the losses. Bankia was the worst performer as its stock plunged 4.25% at 10:30 am CET, followed by Bankinter, down 4.03%, Banco de Sabadell, sliding 3.81%, and Banco Santander, losing 3.23%, at the same time.

Baha Breaking News (BBN) / NP