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Spain’s socialists win snap election

Spain's socialists win snap election


Spain’s socialists win snap election


European stocks are set to open mixed Monday morning, amid lingering concerns over the outlook for the global economy.

The FTSE 100 is seen 11 points higher at 7,439, the CAC is expected to open 2 points lower at 5,567, while the DAX is poised to start up around 4 points at 12,319, according to IG.

European Markets: FTSE, GDAXI, FCHI, IBEX

Market participants eagerly await a meeting of the U.S. Federal Reserve and Chinese factory data for further clues on policy direction in the world’s largest economies.

It comes after the U.S. reported stronger-than-anticipated growth over the first three months of the year. Official data showed gross domestic product (GDP) stood at an annualized rate of 3.2% in the first quarter of 2019, beating analyst expectations.

The U.S. central bank’s Federal Open Market Committee (FOMC) is due to announce its latest monetary policy decision on Wednesday.

MSCI’s broadest index of Asia-Pacific shares excluding Japan, rose approximately 0.4% Monday. Japan’s financial markets are closed for a long national holiday this week.

Back in Europe, Spain’s ruling socialists clinched victory in the country’s general election Sunday.

The Spanish Socialist Workers’ Party (PSOE) won the most seats over the weekend but fell significantly short of a majority needed to form a government alone.

The election result also saw Spain’s Vox party gain 24 seats, making it the first far-right party to enter parliament since military rule ended in the 1970s.


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