Not so much a hit but a battering. That’s the effect of the result of the Spanish poll on the the country’s markets.<br /><br /> By the afternoon Spain’s IBEX – the country’s stock market had fallen just over 2.2 percent.<br /><br /> The nation’s bonds declined for a second day. The 10 year yield rose 11 base points – 0.11 percentage point – to 1.89 percent.<br /><br /> Banking, telecommunications and energy companies all suffered drops. In the banking sector Santander was the most traded entity and was down 2.7 percent. <br /><br /> Shares in telecommunications giant Telefonica also dipped falling 1.43 percent while energy company Iberdrola saw its shares drop 2.8 percent.<br /><br /> Traders warned the figures could be distorted as London, Frankfurt and New York were all closed on Monday.
