European shares slip after election

European shares slipped on Monday, weighed down by uncertainty over Britain's decision to leave the European Union, but the Madrid market rose after Spain's election.


The pan-European STOXX 600 and the FTSEurofirst 300 indexes both fell by 0.6 to 0.7 per cent. The euro zone's blue-chip Euro STOXX index was flat.

Britain's FTSE 100 fell 0.4 per cent, after dropping 3.2 per cent on Friday, the day following the referendum where Britain voted to quit the EU.

However, Spain's IBEX rose 2.0 per cent.

Spain's 10-year government bond yield slid 10 basis points. Spanish bank Bankia rose 13 per cent and Caixabank gained 5.8 per cent.

Royal Bank of Scotland lost 9.3 per cent and Barclays fell 7.7 per cent, according to a news agency report.

-SRS-

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