Sunday 25 September 2016

Markets jittery on Greek debt woes

Published 24/04/2015 | 02:30

Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt. Photo: Reuters
Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt. Photo: Reuters

European bourses proved a mixed bag yesterday, with major continental indices down due to on-going jitters about Greece's debt. Markets were also subdued as new data revealed that the Eurozone's recovery is still faltering.

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Figures from China also showed a weaker than expected out-turn in its manufacturing sector.

At home, the ISEQ Overall Index was one of Europe's losers yesterday, but it declined only marginally all the same.

It closed down 0.15pc, or 9.68 points, to end the session at 6,264.99.

Movers included hotel group Dalata, which was 3.1pc lower at €3.50.

Independent News & Media rose 1pc after shareholders approved the sale of its 18.6pc stake in Australia and New Zealand-based APN News and Media for around €121m.

There were few other notable movers on the ISEQ yesterday.

The UK's FTSE-100 closed just 0.36pc higher at 7,053.67.

Germany's DAX was down 1.2pc at 11,723, while France's CAC-40 was 0.62pc lower at 5,178.91. Research group Markit said that the lower output in the Eurozone during March was due to weaker rates of expansion in Germany and France.

In the United States, the Nasdaq index briefly climbed to its highest level in 15 years, spurred by strong earnings and rising oil prices.

Shares in telecoms equipment firm Ericsson fell more than 10pc after it posted a first quarter operating profit that was worse than expected as its sales in the United States remain weak.

Shares in Deutsche Bank fell 0.4pc. The banks said it will pay a €2.3bn fine to regulators in the US and the UK on foot of an interest rate manipulation case.

Irish Independent

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