European markets started session with slight decrease

Noam Stiekema

After the clear negative vote of the Greeks for the rescue program of creditors European markets started the week with declines. The downside, however, is much more limited than originally anticipated. At the beginning of the session the German Dax fell by 1.6% to 10,877 points. In pre-market trade was down over 2% below Friday. […]

european markets

european marketsAfter the clear negative vote of the Greeks for the rescue program of creditors European markets started the week with declines. The downside, however, is much more limited than originally anticipated. At the beginning of the session the German Dax fell by 1.6% to 10,877 points. In pre-market trade was down over 2% below Friday. Last week, the German leading index has lost 3.8% of its value. MDax sub-index decreased by 1.2% to 19,646 points, while the tech TecDax declined by 1% to 1640.40 points.

The pan-European FTSEurofirst 300 index fell by 1.2 percent, led by banks. In Milan FTSE MIB fell by 2.8%. Italy, together with Spain and Portugal are considered to economies that can suffer more serious because of the crisis in Greece. Shares of banks fell most markedly by Euro STOXX fell 2.3%. Shares of Italian banks, including Unicredit, fell by 3-4%, while the shares of the Portuguese Banco Comercial Portugues – by 3%.

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