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The Latest: Spanish Markets Slide on Catalonia Vote Standoff

The Latest: Spanish Markets Slide on Catalonia Vote Standoff

Monday, 02 October 2017 05:26 AM

BARCELONA, Spain (AP) — The Latest on Catalonia's independence referendum and Spain's response (all times local):

10:20 a.m.

Spain's stock market and the euro are down amid concern over the potential impact of the Catalan independence vote.

The Ibex 35 index in Madrid is down 0.8 percent at 10,299 points on a day when other global markets, even elsewhere in Europe, are higher. Among the biggest losers is Banco Sabadell SA, based in the Catalan town of Sabadell, which is down 3 percent.

The euro also is down 0.6 percent at $1.1742.

Overall, investors seem to think the independence vote will be solved somehow. Analysts at UniCredit bank wrote in a report to investors on Monday that they expect the sides to negotiate "to avoid a degeneration of the crisis - taking into account that the Catalan population is highly divided about the issue."

10:15 a.m.

The co-leader of Germany's Green party has criticized the use of force by police during Catalonia's independence referendum.

Cem Ozdemir, who is being touted as Germany's possible next foreign minister, told the dpa news agency that "the massive police operation against people who wanted to vote is a mistake."

He was quoted Monday as saying that the violence "will only increase the political problem."

Ozdemir also called for a "serious offer of dialogue from (Spanish) Prime Minister (Mariano) Rajoy" and suggested the European Commission should mediate any talks.

German Chancellor Angela Merkel has yet to publicly comment on Sunday's violence and the outcome of the referendum, which Catalonia's regional government says resulted in 90 percent of voters backing a divorce from Spain. Spain has called the referendum illegal and invalid.

9:20 a.m.

Catalonia's government will hold a closed-door Cabinet meeting to discuss the next steps in its plan to declare independence from Spain following a disputed referendum marred by violence. Regional officials say the vote, which Spain insists is illegal and invalid, shows that a majority favor secession.

Catalan president Carles Puigdemont will chair Monday's meeting, which is expected to consider asking the regional parliament to vote on an independence declaration later in the week.

Spanish Prime Minister Mariano Rajoy, meanwhile, meets with ruling party leaders before seeking a parliamentary session to discuss how to confront the country's most serious crisis in decades.

Catalonia said preliminary poll results showed 90 percent favored independence after under half the electorate voted in a day that saw around 850 people injured in clashes with police.

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The Latest on Catalonia's independence referendum and Spain's response (all times local):10:20 a.m.Spain's stock market and the euro are down amid concern over the potential impact of the Catalan independence vote.The Ibex 35 index in Madrid is down 0.8 percent at 10,299...
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2017-26-02
Monday, 02 October 2017 05:26 AM
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