Monday
December 11, 2017
Monday, February 16, 2015

Greek shares fall, Europe slips as no deal seen in debt talks

The FTSEurofirst 300 index of top European shares closed 0.1 percent lower at 1,502.10 points.
The FTSEurofirst 300 index of top European shares closed 0.1 percent lower at 1,502.10 points.
The FTSEurofirst 300 index of top European shares closed 0.1 percent lower at 1,502.10 points.

Greek shares fell and pan-European indexes slipped as investors tempered their expectations that euro zone finance ministers meeting in Brussels would find common ground with Greece's new leftist government.

The currency bloc's finance ministers and the Greek government, elected last month on promises of ending austerity and onerous credit terms, met to discuss what the country is prepared to do to continue to get more loans from the euro zone.

But with a deadline looming in the form of the expiry of the current funding package on Feb. 28, there was little optimism among those who took part in preparatory talks since Friday.

The FTSEurofirst 300 index of top European shares closed 0.1 percent lower at 1,502.10 points, just below a seven-year high touched during the session on Friday.

Greek shares were down 3.8 percent after rallying 11 percent last week as optimism about a deal grew. Greek banks were down 11.5 percent.

"We can't really expect that an agreement will be reached today," Mirabaud Securities senior equity sales trader John Plassard said.

After the market close, a Greek government official said that a draft text presented to euro zone finance ministers meeting in Brussels on Monday spoke of Greece extending its current bailout package and as such was "unreasonable" and would not be accepted.

The European Central Bank has authorised emergency funding, known as Emergency Liquidity Assistance, for Greek banks but will review its policy on Wednesday in the light of the Brussels talks.

"I can't rule out that, at Wednesday's meeting, governors may decide to stop Emergency Liquidity Assistance for Greek banks to put pressure (on Greece) to reach a deal," said Vincenzo Longo, a strategist at IG in Milan.

UBS strategists warned on Monday that uncertainty over Greece's future and a military conflict in Ukraine risked sapping a nascent economic recovery in the euro zone.

Bucking the trend, French conglomerate Bouygues rose 3.8 percent in brisk volume after saying that it had received signs of interest in its telecoms unit in recent months from potential buyers, although no talks were under way.

Meanwhile, Japan's Nikkei share average rose to a near eight-year high helped by Wall Street's gains, even as investors digested weaker-than-expected domestic growth data.

The Nikkei ended 0.5 percent higher to 18,004.77, the highest closing level since July 2007.

The broader Topix gained 0.7 percent to 1,459.43, and the JPX-Nikkei Index 400 advanced 0.7 percent to 13,239.57.

Japan's economy rebounded from recession in the final quarter of last year but growth was weaker than expected as household and corporate spending disappointed, underlining the challenge premier Shinzo Abe's government faces in breaking the economy free from 15 years of stagnation.

  • CommentComment
  • Increase font size Decrease font sizeSize
  • Email article
    email
  • Print
    Print
  • Share
    1. Vote
    2. Not interesting Little interesting Interesting Very interesting Indispensable
Tags:  shares  stock  STOXX  Nasdaq  FTSEurofirst  Dow Jones  Nikkei  World  





  • Comment
  • Increase font size Decrease font size
  • mail
  • Print

COMMENTS >

Comment




    ámbito financiero    ambito.com    Docsalud    AlRugby.com    

Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia