stocks battered by europe’s debt woes
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Stocks battered by Europe’s debt woes

Egypt Today, egypt today

Egypt Today, egypt today Stocks battered by Europe’s debt woes

London - Qna

Weary disappointment is enveloping traders after European Union finance ministers failed to produce a plan for solving the bloc’s debt problems, raising fears that the fiscal crisis will weigh further on the global economy. The Financial Times newspaper said the FTSE Eurofirst 300 fell 2.1 per cent as banks are sold after several sessions of respite, with fretting over a possible Greek default – as talks drag on regarding the next bail-out tranche – continuing to apply pressure. Stresses in the eurozone debt complex can be seen in an 8 basis point rise for Italian 10-year bond yields to 5.56 per cent, said the newspaper. Commodities are sharply lower. There is "risk off" in currencies, while highly rated sovereign bond yields are dipping as investors seek perceived havens. Wall Street’s S&P 500 is enduring a loss of 1.5 per cent, taking the benchmark back below the 1,200 level and leaving the FTSE All-World index down 2 per cent. Asian bourses were hit as investors in the region feared demand in Europe, a major export market, will be denuded. The FTSE Asia Pacific index fell 1.6 per cent, though Japan was spared the selling for now as it was shut for a public holiday.

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stocks battered by europe’s debt woes stocks battered by europe’s debt woes



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