Spanish Unemployment Rate (Q1) 10.83% vs. Exp. 9.8% (Prev. 9.93%)

The Spanish unemployment rate for Q1 came in at 10.83%, significantly above the expected 9.8% and higher than the previous 9.93%.

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Newsquawk headlinesUTC

EUROPEAN OPEN: NOVN SW profit & sales fall on generic competition, may upgrade outlook ahead; BARC LN profits flat as provision offsets growth; BP/ LN profit jumps as oil trading beats expectations; WPP LN Q1 sales beats, affirms outlook amid uncertainty

EUROPEAN MOVERS: Bayer (BAYN GY) -6.4%, Barclays (BARC LN) -3.3%, Novartis (NOVN SW) -2.9%, Air Liquide (AI FP) -2.7%, BP (BP/ LN) +3%, WPP (WPP LN) +4%

Spanish Unemployment Rate (Q1) 10.83% vs. Exp. 9.8% (Prev. 9.93%)

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Context

This miss could indicate underlying labor market weaknesses, which might affect consumer spending and economic growth in Spain, potentially influencing ECB policy considerations and the Euro's performance in the forex market.

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