Concern surrounding Greece’s impact upon Italy and Spain’s recovery

<p>With concern surrounding Greece and the fear this will impact upon Italy and Spain’s recovery, European indexes recorded their biggest one-day fall in nearly three […]</p>

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  • With concern surrounding Greece and the fear this will impact upon Italy and Spain’s recovery, European indexes recorded their biggest one-day fall in nearly three months.
  • The FTSE closed down 1.8% while the French CAC was down 3.5% and the German Dax was down 3.4%.
  • The markets have started very tentatively this morning.
  • Despite heavyweight FTSE 100 companies going ex-dividend this morning, including Standard Chartered and British American Tobacco, taking 11 points off the index, the FTSE has snuck back into positive territory, currently up 2 points.
  • Unsurprisingly Standard Chartered is the biggest faller on the day, off around 1.5%.
  • Leading the FTSE this morning is Randgold Resources which is just over 1% up on the day.
  • Keep an eye out for US ADP Employment Change at 1.15pm this afternoon, a precursor to Friday’s non-farms payrolls. Otherwise there is very little in the way of macroeconomic data due out today.

 

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