European shares fall but Spanish market rises after election result

European shares fell on Monday, weighed down by uncertainty over Britain’s decision last week to leave the European Union, although the Madrid market rose after Spain’s election result.

The Pan-European STOXX 600 and the similar FTSEurofirst 300 .FTEU3 indexes both fell by 0.6-0.7 percent.

Britain’s FTSE 100 .FTSE fell 0.4 percent, adding to a 3.2 percent slump on Friday caused by the country’s shock decision to vote in favor of leaving the EU.

Spain’s IBEX .IBEX rose around 3 percent after acting Prime Minister Mariano Rajoy’s center-right People’s Party (PP) fared better than expected in weekend elections.

Source: Reuters