Greek election results reignited concerns over the country's ability to stave off bankruptcy, though losses elsewhere were trimmed on hopes that France's new president may prompt a change in Europe's strategy to fight the debt crisis.
Madrid (AFP) - The rise of far-left party Podemos in Spain along with Catalonia's separatist drive is unsettling investors who fear the country could change course in a "Greek-style scenario" after upcoming elections.
With significant advancements in the Greek debt saga, it is worthwhile for the Greek stakeholders and banking sector to retract back to events that gave rise to the crisis. The events first sparked in 2009, resulting in significant changes to the economic and financial environment. The Greek have battled a severe drain on their income ever since the onset of instability in the country; economic instability has considerably blurred future prospects.
While this week has been, and continues to be, devoid of macro updates, yesterday's flurry of mostly disappointing earnings releases both before and after the open, including some of the biggest DJIA companies as well as the current and previously biggest and most important companies in the world, AAPL and MSFT, both of which came crashing down following earnings and forecasts that were well short of market expectations, came as a jolt to a market that was artificially priced by central bank liquidity and HFT momo algos beyond perfection.
Gold Surges As Greece Crashes - Eurozone Debt Crisis Part II Cometh Gold jumped 2.3 percent to a six-week high yesterday as sharp falls on stock markets globally led to renewed demand for gold as a haven.