European stocks fell with Spanish stocks falling after inconclusive elections

Spanish stocks were the losers among European stock exchanges on Monday after the country’s general elections ended without a clear winner, indicating a political deadlock and causing concern among investors.

The Spanish stock index fell 1.1 percent, its lowest level in about a week, after the results of the elections that took place at the weekend did not give either the right or the left a comfortable path to form a government.

The pan-European Stoxx 600 index was down 0.2 percent by 0723 GMT.

Bavarian Nordic shares fell 23.1 percent.

Dutch health technology company Philips fell 5.8 percent after it expressed concerns about China’s efforts to achieve self-sufficiency in technology related to the health sector.

Swiss bank Julius Baer rose 6% after announcing an 18% growth in net profits in the first half of 2023.