Spain's election: PP wins but way short of majority

Spain;s election results are coming in, with the Conservatives Partido Popular (PM Rajoy's party) winning 137 seats, which is well short of a majority. Meanwhile, the Socialists won 85, Podemos 71, while Ciudadanos 32. With such a split, forming a government will continue to be a difficult task.

Although the PP has improved  the number of seats it took from the first election, it still cannot reach the required 176 needed to form a government in Spain’s 350-seat congress of deputies. Following the Brexit debacle, and while at smaller scale, the unresolved Spanish political landscape won't help to settle markets.