panish bond yields rise, stocks fall as PM Rajoy faces no confidence vote - Reuters News
25-May-2018 12:37:53
LONDON, May 25 (Reuters) - Spain's borrowing costs rose while stocks fell sharply on Friday after a no confidence motion was mooted against the country's Prime Minister Mariano Rajoy.
Spain's Ciudadanos party said it was ready to put forward its own motion of no confidence against the prime minister over a graft case involving members of his People's Party, after the opposition Socialists tabled a no confidence motion. (Full Story)
Spanish 10-year government bond yields rose after the news came out, reversing an earlier fall, and was up 3 basis points on the day at 1.43 percent ES10YT=RR.
Spain's main stock index .IBEX fell to its lowest level since April 30, down 0.8 percent. Bank stocks Santander SAN.MC, Caizabank CABK.MC and BBVA BBVA.MC tumbled 1.2 to 3.2 percent.