MILAN — European markets fell Tuesday as investors worried whether Greece, after an indecisive election, could form a new government to save it from financial disaster. After Greek conservatives failed to form a government, the baton passed to the Radical Left Coalition leader Alexis Tsipras.
Athens (AFP) - Greece's prime minister warned Tuesday the financially-stricken nation may be forced out of the eurozone if January's parliamentary election hands hard-left party Syriza power to reverse years of austerity measures.
ATHENS — Greek bank stocks fell by more than 22% on Wednesday as the Athens market suffered a third day of turmoil following the election of a government led by leftist anti-austerity Prime Minister Alexis Tsipras.
Fears that Greek banks, facing increased deposit outflows, could be shut out of European Central Bank liquidity assistance if their assets were no longer accepted as collateral led to a rout as investors dumped financial stocks. Bank shares have fallen by a total of 40% since Sunday’s vote.
Greek stocks got absolutely wrecked today, crashing by nearly 13%. That's all on the back of the prime minister announcing early presidential elections. People don't think he has enough support from Greece's parliament to get a president approved, which would cause a snap general election.
Athens (AFP) - Greek stocks plunged Thursday for a third straight day as the prime minister urged deputies to elect a new president next week and safeguard the country's fragile economic recovery.The Athens general index closed 7.35 percent down, with the top banks losing 5.29 and 13.89 percent.
London (AFP) - Global stock markets slumped Tuesday as oil prices struck fresh five-year lows, China clamped down on speculative trading and Greece sparked renewed worries about the eurozone. "Misery loves company; never has this been truer than on the markets today," said Connor Campbell at Spreadex traders.
Stocks finished Tuesday mixed, but well off the lows, after all of the major indexes dropped sharply early in the day on Tuesday following overnight declines in Asian and European markets. First, the scoreboard: