11 Feb 2015
European stocks eye Eurogroup meeting
FXStreet (Mumbai) - The major European equity markets are trading mixed as the Eurogroup meets to discuss Greece amid rumors that the deal has already been reached and awaits approval.
At the time of writing, the Germany’s Dax was up 0.205, while the Cac was down 0.34%. The Spanish index was down 0.43%, while the Italian index traded largely unchanged. Meanwhile, London’s Ftse was down 0.20%.
The equity markets are likely to trade risk averse as a no deal today would increase the risk of Greek default by several notches. Moreover, reports were doing rounds yesterday that the Eurogroup was offering Greece a 6-month extension, however, no official confirmation over the matter came through from Greece or the Eurogroup.
Meanwhile, Greece’s PM Alexis Tsipras won an approval in the parliament yesterday for a 10-point plan that aims to reverse the austerity measures agreed by the previous PM Samaras.
At the time of writing, the Germany’s Dax was up 0.205, while the Cac was down 0.34%. The Spanish index was down 0.43%, while the Italian index traded largely unchanged. Meanwhile, London’s Ftse was down 0.20%.
The equity markets are likely to trade risk averse as a no deal today would increase the risk of Greek default by several notches. Moreover, reports were doing rounds yesterday that the Eurogroup was offering Greece a 6-month extension, however, no official confirmation over the matter came through from Greece or the Eurogroup.
Meanwhile, Greece’s PM Alexis Tsipras won an approval in the parliament yesterday for a 10-point plan that aims to reverse the austerity measures agreed by the previous PM Samaras.