Markets slip as Spain enters recession

London's blue chip index was in negative territory this afternoon, snapping a four-day winning streak as eurozone concerns once again came under the spotlight.

Spain's economy officially entered its second recession since 2009, having contracted 0.3% in the first quarter following a similar contraction in the fourth quarter of 2011. However, the pull-back in growth was less severe than the 0.4% decline the Bank of Spain recently estimated. Spanish bond yields will also be closely watched this week ahead of the country's debt auction on Thursday, the first auction since last week's S&P downgrade of Spain's sovereign debt rating. The ratings agency has also announced it is taking similar action on 16 of the country's banks. The yield on a 10-y...