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>
The video cannot be shown at the moment. Please try again later.
- 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.
GAIN Capital UK Limited (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.