European Stocks Slide on New Round of Greece Talks

Print This!

As EU finance ministers meet in Brussels to resume talks about Greek aid, European stocks decline modestly.

European stocks slipped slightly into the red on Monday as EU finance ministers met in Brussels to discuss possible solutions to the Greek sovereign debt crisis (NYSEARCA:VGK).  Reports indicate a rift between IMF officials, earth image European Stocks Slide on New Round of Greece Talkswho recommend a writedown of Greek debt and German representatives, who oppose such an approach.  Because Germany’s elections are scheduled for 2013, it is expected that any agreement reached by the finance ministers would involve some form of “kicking the can down the road” until after Germany’s elections.  In the mean time, Greece is still waiting for the release of a tranche of €31.5 billion in loans, which has been upheld for two weeks (NYSEARCA:GREK).

Istat reported that Italian consumer confidence declined in November from 86.2 to 84.8 (NYSEARCA:EWI).

As of 11:15 EST, the Euro STOXX 50 Index declined 0.67 percent to 2,540 – staying above its 50-day moving average of 2,510 (NYSEARCA:VGK).  The FTSE 100 Index dropped 0.72 percent to 5,777 (NYSEARCA:EWU).  The German DAX Index declined 0.31 percent to 7,286 (NYSEARCA:EWG). France’s CAC 40 Index sank 0.87 percent to 3,498 (NYSEARCA:EWQ).  Spain’s IBEX 35 Index fell 0.46 percent to 7,873 (NYSEARCA:EWP).  Italy’s FTSE MIB Index declined 0.65 percent to 15,535 (NYSEARCA:EWI).

As of 11:24 EST, the euro declined 0.11 percent against the dollar, trading at $1.2959 (NYSEARCA:FXE).  Important Week for the Euro

El Pais reported that Spain’s economy minister, Luis De Guindos confirmed that the nation would request €40 billion in aid for its troubled banks (NYSEARCA:EWP).   The amount would come from a €100 billion aid package which was approved in June to rescue the nation’s banking sector.

Spain’s ten-year bond yield held at Friday’s closing level of 5.61 percent.  Spain’s two-year bond yield rose to 3.00 percent on Monday from Friday’s closing level of 2.98 percent (NYSEARCA:EWP).

Italy’s ten-year bond yield declined to 4.78 percent on Monday from Friday’s closing level of 4.82 percent (NYSEARCA:EWI).

On London’s ICE Futures Europe Exchange, January futures for Brent crude oil declined by 77 cents (0.69 percent) to $110.61/bbl. (NYSEARCA:BNO, NYSEARCA:USO).  Oil ETFs Eat Turkey

Pages: Next

Be kind & share...Share on Facebook0Tweet about this on Twitter0Share on LinkedIn0Pin on Pinterest0Share on Google+0Digg this
.

Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector's Disclaimer, Terms of Use, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.

Go to Wall Street Sector Selector Home or Check our Special Wall Street News Section

Visit Us On TwitterVisit Us On FacebookVisit Us On YoutubeVisit Us On Linkedin
Make sure you create your redirects.txt file and that it's readable by the redirect script.