spain stocks catapult higher as tensions ease
Saturday 11 January 2025
Last Updated : GMT 06:49:16
Arab Today, arab today

Spain stocks cata-pult higher as tensions ease

Arab Today, arab today

Arab Today, arab today Spain stocks cata-pult higher as tensions ease

Catalan leader Carles Puigdemont
London - AFP

Madrid stocks rallied Wednesday after Catalan leader Carles Puigdemont called for independence to be suspended to allow for talks with the Spanish government.

The Spanish capital's benchmark IBEX 35 index of top companies jumped 1.4 percent, and the euro pushed higher against the dollar.

Other main European markets stabilised as dealers shrugged off news of Tokyo's record run higher. Paris and London edged down, while Frankfurt drifted higher.

"The stalemate between the region and the Spanish government is still ongoing, but the news that the region isn’t rushing for the exit has lifted investor confidence," said analyst David Madden at CMC Markets UK.

"We don’t have any clarity as to how the situation will develop from here ... Dealers may become nervous again when the separatists try and pursue their agenda, but at the moment normality has returned to the Spanish market," he added.

Madrid vowed to examine "all options" Wednesday in a crisis cabinet meeting hours after Catalonia's leaders said they had a mandate to declare independence but put it on hold, plunging the country into unknown territory.

Rajoy has vowed to do everything in his power to prevent Catalan independence following a banned referendum in the region, which remains deeply divided over splitting from Spain.

He threatened Wednesday to suspend Catalonia's regional autonomy after its leader said there was a mandate to split from Madrid, but his government also agreed to study reforming the constitution to try to end the crisis in Catalonia.

"The lack of any drama has meant that, outside the Ibex, the market reaction has been limited," said Chris Beauchamp, chief market analyst at online trading firm IG.

- Tokyo surpasses 1996 peak -

In Asia, Japan's main stock index finished at its highest in more than two decades on Wednesday, leading broad gains across the region after yet another record Wall Street close Tuesday.

Tokyo's Nikkei 225 index finished the day 0.3-percent higher at 20,881.27 points -- its best finish since December 1996.

Japan's corporates have generated bumper profits and the economy is enjoying its best growth spurt for years, while equities have also been supported by a global rally.

Several other markets in the region are also sitting at multi-year highs, helped by hopes that US President Donald Trump's proposed big-spending and tax-cutting promises will be implemented and fire up the world economy.

The Nikkei has rebounded from below the 15,000 mark in June last year after Britain's vote to exit the EU pummelled world markets.

Wall Street's main stock indices marked time Wednesday ahead of Federal Reserve meeting minutes that will be studied for additional clues about the likelihood of a December interest rate hike.

The Fed has signaled it expects to lift rates again in December, while emphasising that it will scrutinize evolving economic data before making a final decision.

The earnings season gets into gear Thursday when several big banks publish their quarterly results.

Oil prices dipped on Wednesday, giving up some of the solid gains made the day before following news that Saudi Arabia planned to cut exports in November, although OPEC raised its forecast for oil demand once again. 

 - Key figures around 1530 GMT - 

Madrid - IBEX 35: UP 1.4 percent at 10,288.40

London - FTSE 100: DOWN 0.06 percent at 7,533.81 points (close)

Frankfurt - DAX 30: UP 0.2 at 12,970.68 (close)

Paris - CAC 40: DOWN 0.02 percent at 5,362.41 (close)

EURO STOXX 50: UP 0.2 percent at 3,607.42

New York - DOW: UP 0.04 percent at 22,840.93

Tokyo - Nikkei 225: UP 0.3 percent at 20,881.27 (close)

Hong Kong - Hang Seng: DOWN 0.4 percent at 28,389.57 (close)

Shanghai - Composite: UP 0.2 percent at 3,388.28 (close)

Euro/dollar: UP at $1.1846 from $1.1809 at 2100 GMT

Pound/dollar: DOWN $1.3204 from $1.3205

Dollar/yen: DOWN at 112.41 yen from 112.45 yen

Oil - Brent North Sea: DOWN 27 cents at $56.34 per barrel

Oil - West Texas Intermediate: DOWN 29 cents at $50.63

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spain stocks catapult higher as tensions ease spain stocks catapult higher as tensions ease

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spain stocks catapult higher as tensions ease spain stocks catapult higher as tensions ease

 



GMT 02:36 2017 Saturday ,23 December

Syrian regime forces bombarded Hama killing dozens

GMT 06:54 2017 Friday ,22 December

US vice president makes unannounced Afghanistan visit

GMT 11:28 2018 Wednesday ,17 January

Ambassador of Switzerland meets MP Khalil

GMT 20:05 2011 Friday ,05 August

Sikorsky delivers first S-701 helicopters

GMT 13:47 2017 Thursday ,14 September

EU citizens, British expats rally for Brexit rights

GMT 21:08 2016 Tuesday ,22 November

Kuwaiti Oil Price Goes up to $42.51 pb

GMT 04:03 2017 Tuesday ,25 July

Jamaica stuns Mexico to reach Gold Cup final

GMT 18:52 2015 Saturday ,12 December

Nusra chief rejects outcome of Riyadh meet on Syria

GMT 10:04 2017 Thursday ,13 April

Mattis: No Doubt the Syrian Government Responsible

GMT 14:05 2017 Thursday ,02 March

Canada economy grew 2.6% in fourth quarter

GMT 16:29 2017 Wednesday ,29 November

Noor Bank, Global Village announce strategic partnership

GMT 13:10 2018 Wednesday ,17 January

Kataeb: We refuse to impose taxes on low income people

GMT 13:20 2018 Sunday ,14 January

General policy for displaced is being hampered
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday