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Spanish markets gain on report Catalan separatists divided
October 5, 2017 / 2:23 PM / in 13 days

Spanish markets gain on report Catalan separatists divided

LONDON, Oct 5 (Reuters) - Spanish stocks surged in afternoon trading on Thursday, up 2.6 percent and on track for their biggest day’s gains in more than five months, with traders citing a report Catalan separatist leaders are divided over the independence push.

Spain’s 10-year bond yields, which move inversely to prices, fell further to 1.69 percent, down 9 basis points on the day and set for their biggest daily fall since April, on the Bloomberg report which, citing sources, said moderate separatists are worried about risks to the economy.

Catalonia-headquartered Banco Sabadell and Caixabank jumped higher, last up 6.2 percent and 4.5 percent respectively.

“The markets, in the last 30 minutes, have begun to believe in a normalisation of the situation in Catalonia,” said Stephane Barbier de la Serre, strategist at Makor Capital Markets. (Reporting by Helen Reid and Julien Ponthus; Editing by John Geddie)

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