Just returned an hour ago from Las Palmas after a couple of days. The atmosphere is pretty sombre over there and Gando is eerily quiet, apart from the squads of TV crews hogging both arrivals and departures.
I am sure this information is of little use to anyone, but this is "Rumours and News" after all
The commonly held belief there, based on the information going around, is that that after a catastrophic failure of an engine at around 40m, the tailplane assembly seperated from the aircraft and the whole thing plummeted in a right arc, into the barranco.
Like I said, this is the version of events from Las Palmas.