European stocks slide as Greek strikes rage on in Athens

<p>Greece’s strike action has caused European stock benchmarks to retreat.</p>

The major European stock indices have lost ground today (February 20th), as general strike action and protests over austerity measures in Athens rage on.

Crowds marched towards parliament in the capital city, with thousands of Greeks beating drums and blowing whistles as part of the 24-hour industrial action.

The strike is being called by Greece's two biggest trade unions, representing around half of the troubled Mediterranean nation's workforce of four million.

Schools, hospitals and travel services were closed or left manned by emergency staff as workers downed tools to make their displeasure known with the current administration's hefty cuts, wage freezes and redundancies.

The strikes come just days before international lenders are due in Athens to discuss the country's next bailout, for which the government needs to demonstrate it is making savings and is taking control of its finances.

At 16:35 GMT, the pan-European DJ Eurostoxx Index fell by 0.9 per cent to 2637.8 points.

Find out about the key European benchmarks and spread betting strategies at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.