Madrid’s Ibex index tumbled more than 300 points, or more than 2 per cent, to 14,675, triggered by worries over property company Astroc, whose shares have plummeted over the last week due to doubts over its financial strength. The news knocked sentiment towards UK real estate stocks, with Hammerson down 1.7 per cent to £15.44 and housebuilder Persimmon 2.9 per cent lower at £13.65.

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