February 13, 2019 / 12:04 PM / 2 months ago

Spanish stocks dip, govt bond spread wider after Spain's parliament rejects budget

LONDON, Feb 13 (Reuters) - Spanish stocks edged lower and Spain’s government bond yield spread over safer Germany widened on Wednesday after the country’s parliament rejected the Socialist’s 2019 budget proposal, raising the chances of a snap general election.

Spain’s IBEX stock market fell after the news and was last down 0.2 percent, close to a session low. It was the only major euro zone market in negative territory.

In bond markets, the closely-watched gap between 10-year Spanish and German government bond yields widened to around 111 basis points. It stood at 109 bps late on Tuesday. (Reporting by Joesphine Mason and Virginia Furness; Writing by Dhara Ranasinghe Editing by Tommy Wilkes)

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