Arab Today, arab today european stocks and euro tumble on fresh debt worries
Last Updated : GMT 23:28:03
Arab Today, arab today
Arab Today, arab today

European stocks and euro tumble on fresh debt worries

Arab Today, arab today

Arab Today, arab today European stocks and euro tumble on fresh debt worries

London - AFP

European stock markets and the euro slumped in early deals Tuesday on growing fears that the eurozone debt crisis will spread despite fresh measures aimed at preventing contagion, traders said. London\'s FTSE 100 index shed 1.90 percent to 5,816.57 points, also following heavy losses across Asia and overnight on Wall Street. Frankfurt\'s DAX 30 dived 2.69 percent to 7,038.96 points and in Paris the CAC 40 slid 2.36 percent to 3,717.70 points. The Milan exchange dived more than 4.0 percent and Madrid lost 3.75 percent, with indices pulled lower by sinking bank shares. \"This is as much a banking crisis as a sovereign debt crisis,\" said Neil MacKinnon, an economist at VTB Capital. \"Policymakers need to address mechanisms that allow for both debt restructuring and bank recapitalisation. In the interim, without a coherent policy response, a disorderly and volatile period looks set to continue.\" The European single currency meanwhile tumbled to a four-month low of $1.3837 in London foreign exchange deals. Eurozone members on Monday agreed to strengthen a multi-billion-dollar fund to prevent Europe\'s debt woes engulfing other states. But investors are increasingly concerned that political leaders and bankers holding Greek debt talks in Brussels are unable to agree on how to avert an outright default by Athens. Analysts fear that the Greek crisis might spread to heavily-indebted Italy and Spain Europe\'s third and fourth largest economies respectively. \"It has long been assumed that as long as Greece, Portugal, and Ireland remained the only eurozone countries to fall into trouble, the situation was manageable with spill-over effects likely to prove negligible,\" said Lee Hardman, an economist at The Bank of Tokyo-Mitsubishi UFJ. \"However, the sharp collapse in investor confidence in Italian and Spanish government debt over the past week has set alarm bells ringing.\" Italian banking shares were the hardest hit in early European trading on Tuesday, with Italy\'s UniCredit shedding 7.11% to 1.072 euro and Intesa Sanpaolo dropping 6.62% to 1.425 euro. Europe\'s troubles weighed on Asian stocks, with Tokyo closing down 1.43 percent to 9,925.92 points on Tuesday. Sydney shed 1.90 percent and Seoul tumbled 2.20 percent. US stocks plummeted Monday as worry about Europe\'s worsening debt crisis clouded markets already walloped Friday by sour US economic data. The Dow Jones Industrial Average closed down 1.20 percent to 12,505.76 points.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today european stocks and euro tumble on fresh debt worries Arab Today, arab today european stocks and euro tumble on fresh debt worries

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 15:57 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 15:41 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 14:44 2017 Sunday ,26 February

Muscat shares fall on local selling

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday