Spain's Prime Minister and People's Party (PP) leader Mariano Rajoy gives a thumbs up during the final campaign rally for Spain's general election in Madrid, Spain, December 18, 2015.
Oil is taking a beating again. Brent touched an 11-year low of $36.18 (£24.24) in trade overnight and is down $0.25 (£0.17), or 0.67%, at $36.41 (£24.39) at the time of writing (6.30 a.m. GMT/1.30 a.m. ET). Crude is down $0.31 (£0.21), or 0.85%, at $35.75 (£23.95).
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The conservative People's Party (PP) of Prime Minister Mariano Rajoy won Spain's general election on Sunday, exit polls showed, although it fell short of an absolute majority and will have to rely on other parties if it is to govern for another four-year term. The PP is seen winning between 114 and 124 seats in the 350-strong parliament, 52 to 62 seats short of the 176 seats needed for an absolute majority.
Asian markets are mixed, with trading volumes thin as Christmas approaches. Japan's Nikkei is down o.37% at the time of writing (6.30 a.m. GMT/1.30 a.m. ET), while the Hong Kong Hang Seng is up 0.21%, and the Shanghai Composite is up 1.74%.
Japanese electronics maker Panasonic has agreed to buy a majority stake in US refrigeration systems maker Hussmann for over 150 billion yen (£800 million, $1.2 billion), people familiar with the matter said on Monday. Panasonic is buying the stake from private equity firm Clayton Dubilier & Rice, according to the sources.
Toshiba said on Monday it would discuss its restructuring measures and it may announce the impact on its business for this fiscal year ending March. The Nikkei business daily reported over the weekend the company is expected to forecast a record net loss of more than 500 billion yen (£2.77 billion, $4.13 billion) for the fiscal year on restructuring costs. Toshiba revealed earlier this year it had overstated accounts by $1.3 billion (£870 million) as far back as 2008.
Former Prime Minister John Major doesn't think Britain is going to raise interest rates anytime soon, even though the US Federal Reserve hiked rates for the first time since 2006. He told the BBC's Andrew Marr show on Sunday: "I think this will be a very slow process. I don't think we're going to suddenly see a huge spiral in interest rates. I know many mortgage owners in particular will be concerned about that."
Throughout the year, Business Insider has been giving you reflections of what's been happening in the market and economy through our Chart of the Day. We've collected all of the year's charts from the smartest analysts and a few of our own design in one post. Check them out here.
A mega-consortium of some of the world's most powerful sovereign wealth and pension funds is among the leaders in the £2 billion ($2.9 billion) race to buy London City Airport. The Telegraph reports that a team made up of five suitors, including Wren House Infrastructure, which is an arm of the Kuwait Investment Authority, is believed to be on a shortlist of bidders that will be invited to make second-round offers for the airport in February.
The former chairman of Morrisons has built a £6 million ($8.9 million) stake in Sainsbury's - and given Mike Coupe, its chief executive, his public backing. The Times reports that Sir Ken Morrison owns 2.6 million shares in the rival. His son William owns a further 2.1 million shares, giving the pair a combined £11.9 million ($17.7 million) stake.