European shares fall but Spanish market rises after election result

Reuters

LONDON (Reuters) - European shares fell on Monday, weighed down by uncertainty over Britain's decision last week to leave the European Union, although the Madrid market rose after Spain's election result.

The Pan-European STOXX 600 <.STOXX> and the similar FTSEurofirst 300 <.FTEU3> indexes both fell by 0.6-0.7 percent.

Britain's FTSE 100 <.FTSE> fell 0.4 percent, adding to a 3.2 percent slump on Friday caused by the country's shock decision to vote in favor of leaving the EU.

Spain's IBEX <.IBEX> rose around 3 percent after acting Prime Minister Mariano Rajoy's center-right People's Party (PP) fared better than expected in weekend elections.

(Reporting by Sudip Kar-Gupta)