By Carla Mozee, MarketWatch

DAX trades around record highs

Stocks listed in Spain dropped Monday, weighing on the pan-European benchmark, as a statement from Catalonia's leader left investors struggling to understand where the region stands on independence.

In Madrid, the IBEX 35 fell 0.7% to 10,187.40, as only six components moved higher. As the index extended its loss from the open, the broader Stoxx Europe 600 pared its gain to 0.1%, at 391.94.

Catalonia's president, Carles Puigdemont, on Monday told the Spanish government that his aim was for two months of talks to discuss the northeastern region's break from Spain (http://www.marketwatch.com/story/catalan-leader-dodges-clear-declaration-of-independence-2017-10-16), local media reports said. But he did not clarify whether Catalan leaders have formally declared independence after a regional referendum this month backed a split. The national government had given Puigdemont a deadline of Monday morning to make the situation clear.

The lack of real response to Madrid's demand could bring reprisals from the central government , which is seen as having been heavy-handed in dealing with the situation so far.

"By declaring independence, [Piugdemont] is likely going to be arrested, and Madrid would have to impose the Article 155 of the Spanish constitution. Under this article, Madrid would directly rule and it would also trigger mammoth unrest in the country," said Naeem Aslam, chief market analyst at Think Markets UK.

"On the other hand, if he backs down, the Catalan government isn't going to accept his leadership anymore and the government would spilt," he added in a note.

"This entire situation opens the euro currency to a significant risk and uncertainty," Aslam said.

The euro traded at $1.1795, down from $1.1821 late Friday in New York.

Stock movers: Shares of lenders CaixaBank SA (CABK.MC) and Bankia SA (BKIA.MC) traded near the bottom of the IBEX, declining 2% and 1.5%, respectively. Siemens Gamesa Renewable Energy SA (SGRE.MC) skidded 6.7%

Topping the few advancers was Distribuidora Internacional de Alimentacion SA (DIA.MC) as shares of the discount supermarket chain rose 1.2%.

Other indexes: Germany's DAX 30 index rose 0.1% and traded around record highs at 13,003.91. The German benchmark last week marked a sixth consecutive weekly advance. France's CAC 40 index slipped fractionally to 5,350.94.

In London, the FTSE 100 index edged up 0.1% to 7,539.59.

The Stoxx Europe 600 index on Friday rose 0.3% (http://www.marketwatch.com/story/dax-on-track-for-another-record-as-bayer-rises-on-deal-news-2017-10-13) and advanced 0.5% last week, a fifth week of gains.

 

(END) Dow Jones Newswires

October 16, 2017 04:16 ET (08:16 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
FTSE 100
指数チャート
から 2 2024 まで 3 2024 FTSE 100のチャートをもっと見るにはこちらをクリック
FTSE 100
指数チャート
から 3 2023 まで 3 2024 FTSE 100のチャートをもっと見るにはこちらをクリック