Arab Today, arab today european stocks slide
Last Updated : GMT 09:51:30
Arab Today, arab today
Arab Today, arab today

European stocks slide

Arab Today, arab today

Arab Today, arab today European stocks slide

European stocks
London - AFP

Europe's main stocks slid Monday, wiping out earlier gains, as the banking sector took a hit from concerns over Greece's unresolved crisis, dealers said.

London's benchmark FTSE 100 index of top companies shed 0.32 percent to 6,938.70 points in early afternoon deals.

In Paris, the CAC 40 index fell 1.17 percent to 4,935.20 points and Frankfurt's DAX 30 lost 0.46 percent to 11,396 points compared with the close on Friday.

Athens stocks shed 1.07 percent, while Milan dived 1.97 percent in value.

"Greek banks are running short on collateral and there are mounting concerns that the country may be forced to implement capital controls if a deal cannot be reached quickly -- which is weighing on sentiment and driving Greek equities lower and borrowing costs higher," said Rebecca O'Keeffe, head of investment at online stockbroker Interactive Investor.

Banking shares fell across Europe. Britain's Lloyds shed 1.27 percent to 87.87 pence in London, while Commerzbank dropped 1.75 percent to 12.32 euros in Frankfurt.

French pair Credit Agricole and Societe Generale saw their share prices slid 4.01 percent and 2.98 percent, to stand at 13.67 euros and 43.32 euros respectively.

Greece wants to reach a loan deal with its EU-IMF creditors by the end of May to resolve an acute cash shortage, the government said.

Greece's new radical Syriza-led government and its EU-IMF creditors have been stuck in a deadlock for four months over the reforms needed to release a final 7.2 billion euros ($8.2 billion) in bailout funds.

The delay has led to concerns Athens is running critically short of cash and may soon end up defaulting, which could set off a messy exit from the euro.

Over the weekend, Greek newspapers reported that the country came close to not making a 750-million-euro debt repayment to the International Monetary Fund last week.

- 'Important week' for Athens -

"This week really is an important one for Greece," said dealer Alistair Cotton at traders CurrenciesDirect.

"Reports out over the weekend suggest that it was a struggle for Greece to make its recent 750-million-euro payment to the International Monetary Fund, and it’s likely it won’t be able to pay the next instalment due on 5 June."

Around 1.5 billion euros are now due to the IMF in June, including 302.5 million euros on June 5.

"An EU leader’s summit on Thursday and Friday (21 – 22 May) might see the proposal of an extension to payment terms," added Cotton.

"More seriously for the euro, Greece’s failure to meet the 5 June deadline could trigger a general election – and the panic that would create is likely to result in the imposition of capital controls," he warned.

In foreign exchange activity on Monday, the European single currency fell to $1.1386 from $1.1446 late in New York on Friday.

Most of Asia's key markets diverged Monday following a strong end to last week and another record close on Wall Street.

Shanghai shed 0.58 percent and Sydney fell 1.33 percent, but Tokyo ended 0.80 percent higher and Seoul gained 0.34 percent.

Asian investors took a breather after Friday's rally across most indexes.

Friday's US gains came after more weak data indicating a recovery in the world's number one economy may not be as strong as thought, making an expected interest rate hike unlikely in the near future.

 

arabstoday
arabstoday

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 slide Arab Today, arab today european stocks slide

 



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 slide Arab Today, arab today european stocks slide

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Russia and Iraq restore air travel

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 11:53 2017 Saturday ,16 September

Jolie effect helps Namibian tourism

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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