European shares advance even as Spanish stocks take election hit

lunes 21 de diciembre de 2015 05:41 GYT
 

* Spain's IBEX down 1.8 pct, FTSEurofirst 300 up 0.7 pct

* Spain's inconclusive election weighs on shares

* Ericsson soars after settling dispute with Apple

* Volkswagen up, new Lamborghini CEO in pipeline

* ITV gains on bid speculation, Britain's FTSE up 0.9 pct

By Kit Rees

LONDON Dec 21 (Reuters) - European shares edged higher on Monday, buoyed by gains in carmaker Volkswagen and telecoms equipment manufacturer Ericsson, although an inconclusive result in Spain's election hit the country's stocks.

Neither Prime Minister Mariano Rajoy's conservatives nor left-wing parties won a clear mandate to govern in Sunday's poll, casting fresh uncertainty over the outlook for Spain's reform programme and broader economy. Talks to form a coalition government are expected to take weeks.

Spain's top-share IBEX 35 index fell to trade down 1.8 percent, while Spanish 10-year government bond yields hit one-month highs after the election.   Continuación...