View more on these topics

FTSE blog: European markets fall sharply

European stocks fell sharply in morning trades on Wednesday ahead of the European Union Summit and more concerns that Greece could leave the euro.

At 14.33, the FTSE 100 was down 1.7 per cent to stand at 5310.31. The German Dax and the French Cac 40 were also down 1.4 and 1.8 per cent respectively.

An an interview with the Dow Jones on Tuesday Greek Prime Minister Lucas Papademos said that the country is making contingency plans for an exit from the euro, and warned of the high costs associated with that.

Asian shares also fell overnight with the Nikkei 225 in Japan down 2 per cent and the Hong Kong Hang Seng down 1.3 per cent.



Connaught continues fund suspension and seeks legal advice

Connaught Asset Management has decided to continue the suspension of its income fund series two and has taken independent legal advice on the future of the fund. In an announcement to the Channel Islands Stock Exchange, the investment manager says the suspension will continue while it awaits the final report of independent accountant BDO LLP, […]

Posen may vote for further QE

Bank of England monetary policy committee external member Adam Posen says he is considering voting for more quantitative easing at the next MPC meeting. The MPC voted to expand the asset purchase scheme by £75bn in September and £50bn in February, bringing the total programme to £325bn. In an interview with MNI Deutche Börse Group […]

Labour: More voices needed in a crisis

Labour wants more senior regulators to be able to inform the Chancellor directly of problems in the financial system which risk public funds. Under current proposals in the Financial Services Bill, the Treasury will get the power of direction over the Bank of England once the bank governor informs the Chancellor there is material risk […]

Thames River sees benefits of tech efficiency

Thames River Multi-Capital says the recent outperformance of the IMA technology and telecoms sector is due to an increasing reliance on technology as companies use it to increase efficiency and reduce staffing needs. In its latest Fundwatch survey, the multi-manager firm highlights the IMA technology and telecoms sector as the best-performing of all 36 IMA […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment