Europe stocks mixed as Spain’s banks weigh amid Catalonia crisis

European stock markets were mixed Monday morning, as investors monitored fresh corporate earnings and awaited any further developments from Spain’s ongoing constitutional crisis.

The pan-European Stoxx 600 was little changed during early morning deals with sectors and major bourses pointing in opposite directions.

Health care stocks were the best performers on Monday morning, up 0.36 percent on earnings news. Dutch health and technology company, Philips, reported that its core profits rose 12 percent to 532 million euros ($626.11 million) in the third quarter. Its shares were almost 1 percent higher on the news.

Europe’s banking index dipped 0.5 percent in early morning deals, as Spain’s banks led the losses amid ongoing political uncertainty. BBVA, Bankia and Banco de Sabadell were all more than 1 percent lower on Monday morning.

Catalonia crisis

Spain’s biggest political crisis in decades moved into a decisive week on Monday, as Madrid seeks to impose its control of the restive region. The Spanish government has urged Catalans to accept its decision to dismiss their secessionist leadership amid speculation that the regional President, Carlos Puigdemont, is planning to press ahead with a unilateral declaration of independence. Spain’s IBEX slipped 0.5 percent shortly after the opening bell.

In international markets, major indexes in Aisa traded slightly higher on Monday, after Japanese Prime Minister Shinzo Abe looked to have comfortably won in national elections over the weekend.

Source: CNBC