greek fears send european stocks sliding again
Last Updated : GMT 06:32:30
Arab Today, arab today
Arab Today, arab today

Greek fears send European stocks sliding again

Arab Today, arab today

Arab Today, arab today Greek fears send European stocks sliding again

Frankfurt Stock Exchange
London - AFP

Intensifying anxiety over Greece sent European stock markets lower Tuesday, with the new government set on a collision course with creditors over plans to renegotiate its enormous bailout, analysts said.
London's benchmark FTSE 100 index of top companies fell 0.43 percent to 6,823.10 points, as investors also digested data showing Britain's economic growth slowed to 0.5 percent in the fourth quarter of 2014.
Elsewhere, Frankfurt's DAX 30 shed 0.58 percent to 10,735 and the CAC 40 in Paris lost 0.66 percent to 4,644 points compared with Monday's close.
- Greece 'leaving behind austerity' -
The Athens stock market plunged by another 2.81 percent, having tumbled 3.2 percent the previous day on news that anti-austerity party Syriza won the Greek election over the weekend.
However, Europe's main indices had mostly risen on Monday, shrugging off fears of a Greek eurozone exit or so-called Grexit.
Later on Tuesday, New Greek Prime Minister Alexis Tsipras will unveil his anti-austerity coalition administration, bringing together his radical left-wing party with the nationalist right, after a stunning election win that sent shockwaves through Europe.
Tsipras declared Sunday that Greece is "leaving behind disastrous austerity" and the so-called troika of creditors "is finished", in reference to the country's international lenders the European Union, the International Monetary Fund and the European Central Bank.
"The Greek elections might be over but markets remain preoccupied with what the new government will do next, conscious that a stern test of the eurozone's commitment to stay together could be just round the corner," said analyst Connor Campbell at trading firm Spreadex.
- 'Limited' contagion risks -
He added: "Syriza appear to be creating a 10-minister cabinet that is diametrically opposed to what (the) troika and the eurozone would want from Greece, and the reality of this is finally making itself felt on the markets today."
Syriza are the first anti-austerity party to govern in Europe, but they fell two seats short of a 151-seat majority in parliament and were thus forced to forge a coalition with the small right-wing Independent Greeks (ANEL) party.
In foreign exchange activity on Tuesday, the European single currency rose to $1.1307 in London deals on Tuesday, having hit Monday an 11-year low of $1.1098 on fears Greece could leave the eurozone.
"Difficult negotiations lie ahead to agree on a follow-up bailout with Greece’s troika creditors," added Citi analyst Ebrahim Rahbari in a note to clients.
"In our view, it is likely that an agreement will eventually be found due to the strong mutual incentives of the Greek government and its eurozone creditors to avoid the worst-case scenarios of Greek government default or Grexit, but an agreement requires significant concessions by both sides, so the negotiations will likely be lengthy and could fail."
Rahbari added: "We consider the near-term contagion risk to other eurozone countries to be limited, but political risks in the eurozone are rising more broadly."
Most Asian stock markets climbed Tuesday on hopes Greece's new government will be able to negotiate a bailout deal with the EU and IMF that will prevent it from leaving the eurozone.

 

arabstoday
arabstoday

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides

GMT 15:05 2017 Wednesday ,15 November

Bahrain Bourse daily trading performance

GMT 02:47 2017 Wednesday ,15 November

Asian markets down as fears grow for US tax reform

GMT 19:56 2017 Tuesday ,14 November

Bahrain Bourse daily trading performance

GMT 02:48 2017 Saturday ,11 November

European stock markets fall further
Arab Today, arab today
Arab Today, arab today

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*

greek fears send european stocks sliding again greek fears send european stocks sliding again

 



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*

greek fears send european stocks sliding again greek fears send european stocks sliding again

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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