Negative start to the week as stock markets across Europe are trading firmly
Trading Floor News March 18, 2013 3:20 PM
<p>- A negative start to the week as stock markets across Europe are trading firmly in negative territory this morning in the aftermath of the […]</p>
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- A negative start to the week as stock markets across Europe are trading firmly in negative territory this morning in the aftermath of the bailout deal for Cyprus
- Banks and financials have taken a hit this morning in London with Barclays, RBS and Lloyds registering sharp declines
- M&S is a high riser though on reports that Qatar could launch an eight-billion-pound bid for the High Street retailer
- Britain’s FTSE 100 index is set to open down 1% on Monday, while France and Italy are down 2%
- European markets have followed Asian shares downward on fears that the plan to bailout Cyprus could trigger an escalation of the Eurozone debt crisis.
- Analysts said the fresh concerns over Eurozone debt crisis, triggered by the developments in Cyprus, had resulted in investors looking to ditch relatively riskier assets
- The week has started with a clear rise in risk aversion, following the surprise weekend decision in Brussels to slug all depositors in Cypriot banks with a levy in order to approve 10bn-euro bailout funds
- Looking at the economic data the European Cyprus Parliament to Vote on Deposit Levy for EU Bailout Plan will be release at 3pm this afternoon.
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