European stocks market sept 21 2011

European stocks market sept 21 2011 : European stocks opened a little lower Wednesday, as investors worry that Greece's negotiations with international inspectors may drag on and could still fall apart. At the same time, investors await the end of a U.S. Federal Reserve meeting with most expecting new monetary easing measures to jumpstart the economy.

London's FTSE 100 Index slipped 0.3% to 5350.27, the DAX in Frankfurt lost 0.2% to 5555 and the CAC-40 in Paris fell 0.3% to 2973.76.

Despite Tuesday's positive European close and early gains on Wall Street, U.S. markets failed to hold on to gains Tuesday following a lack of concrete progress at a conference call between Greece and the troika—the International Monetary Fund, European Commission and European Central Bank—and as traders position themselves ahead of a policy announcement from the Fed at 1815 GMT.
Attention is set to remain on Greece and whether the country will receive its next loan tranche. Greece reported progress Tuesday in talks with the troika of international inspectors over fresh austerity measures the country must take to meet its deficit goals, but failed to clinch a deal that would secure the country the next installment of aid.

"The Greek issues will relegate everything else to the background. We continue to see the environment of selling risk assets on rallies. Against this background, downgrades to [Greece's] growth forecasts by the IMF simply confirm the reality of the much weaker growth environment than expected earlier in the year," said Crédit Agricole in a note to clients.

It added that markets are also awaiting the Fed's decision. "Most look for the Fed to tinker with its balance sheet rather than increase its size, which could come as a disappointment to those looking for more quantitative easing," said Crédit Agricole. Other than the Fed, the Bank of England will publish its meeting minutes at 0830 GMT. Economic data Wednesday includes U.K. public-sector net borrowing at 0830 GMT and U.S. existing home sales at 1400 GMT. For the latest updates PRESS CTR + D or visit Stock Market news Today

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