The Spanish Ibex 35 index has rebounded on the news Catalonia has stopped short of signing an independence declaration to hold talks with the government in Madrid, paving the way for a potential resolution of the constitutional crisis gripping the country.
The Ibex 35 jumped 1.3% to 10,272 on Wednesday morning, after Catalan leader Carles Puigdemont proposed suspending the effect of the independence declaration in order to hold talks with Madrid. The euro held steady at $1.1809 on Wednesday morning, while the yield on Spain's 10-year bond fell to 1.66%. However, despite a positive market reaction, founder and CEO of deVere Group Nigel Green warned independence could have far-reaching consequences for global investors. He said: "Up until now the chaos in Catalonia had been largely dismissed by global investors as a regional issue. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
