The initial above sold at an auction in Barcelona last week. It is appealing, but I do not really know what to make of it.
It was catalogued as "Spanish school", but neither the style of the illumination nor the script on the back look particularly Spanish to me:
On the other hand, it turned up in Spain, and it is notable that while the initial apparently introduces the Common for an Apostle:
"E[go autem sicut oliva ... quoniam bonum est ante] conspectum san[ctorum] tuorum".
the saint in pride of place, in the centre between Sts Peter and Paul, is St James, patron of Spain:
|"Anno d(omi)ni Millesimo q(ui)ngen(tesi)mo quinto die vero quarta Marcij"|