After Elections in Spain shares dipped in Madrid

Madrid Stock Exchange reported a decline in its leading index Ibex 35 by 2.28 percent to 9494 points after yesterday’s parliamentary election, which deprived the conservative party that ruled the country until now, by a majority, creating uncertainty about the new authorities, transmits Bloomberg.

On Monday, banks outweigh most of the leading index, Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA are with declines of more than 2.3 per cent.

Elections influence of Spanish shares during the year, IBEX 35 recorded an annual decline of 5.5 per cent on Friday, which is one of the weakest performances in Western Europe. On Monday, the volume of shares traded on the IBEX 35 is 46% higher than the average of the last 30 days, calculated Bloomberg.

Spain’s ruling right-wing Popular Party won yesterday’s election with 28.7 percent of the votes according to the results of more than 90 percent of the ballots, said Deputy Prime Minister Soraya Saens December Santamaria, quoted by AFP.

According to the data we have under counted 90.39 percent of the ballots, the People’s Party won the election, said Saens December Santamaria. The Socialist Party was second with 22.19 percent of the votes and the radical left party “Podemos” is the third political force, she added.