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Spanish stocks smacked as anti-austerity party notches gains

May 26, 2015 1:38 PM ETiShares MSCI Spain ETF (EWP)EWPBy: Stephen Alpher, SA News Editor
  • "The previous two-party regime is looking now more like a four-party contest," says Deutsche's Jim Reid, after the ruling People's Party was drubbed in weekend elections, amid gains for the anti-austerity Podemos Party (a Spanish Syriza).
  • Podemos-backed activist Ada Colau was elected mayor of Barcelona, while a Podemos coalition looks set to take power in Madrid after 24 years of rule by the People's Party.
  • A national election is due by year's end.
  • The IBEX 35's two-day loss this week has topped 3%.
  • EWP -4.1%

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