UPDATE 1-Spanish, Italian politics jolt euro zone stock markets as peripheral banks tumble [Reuters (UK)]
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Source: Reuters
Spanish, Italian politics jolt euro zone stock markets as peripheral banks tumble | Reuters 5 Min Read MILAN/LONDON (Reuters) - Euro zone shares hit a roadbump on Friday as heightened risk of a snap election in Spain piled new political anxiety on investors already shaken by the new Italian government’s plans to ramp up fiscal spending. Spanish and Italian stocks fell sharply, with peripheral banks firmly in the firing line, while German shares and Bunds - considered a safe haven - made gains as investors pulled money from peripheral euro zone debt and stocks. Spain stole the spotlight from Italy as pressure built on Prime Minister Mariano Rajoy, with opposition parties calling for a no-confidence vote and a snap election over a corruption case involving members of his party. This, combined with worries over Italy’s new eurosceptic government, difficult global trade talks and a slowing economy, helped push Europe’s STOXX 600 to its first weekly loss in two months. Spain's main stock i
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