FTSE 100 falls impact Slovak vote on eurozone bailout fund

FTSE 100 falls impact Slovak vote on eurozone bailout fund ; The UK’s blue chip index is poised to snap its four day winning streak amid uncertainty over the outcome of today’s vote by the Sloval parliament on expanding Europe’s bailout fund, which is crucial to stemming the ongoing debt crisis.

Slovakia is the only member of the euro zone that is yet to approve the proposed expansion of the European Financial Stability Fund (EFSF).


One of the four parties that form the ruling coalition has refused to ratify the measure, triggering speculation that the government could fall apart and it could take longer for the country to approve the increase in the bailout fund’s size.

Slovak finance minister Ivan Miklos warned the parliament that if it fails to approve the measure, consequences could be worse than the 2008 crisis that followed the demise of Lehman Brothers.

Likewise, the FTSE 100 has faded above 5,400 in recent months and we have seen the same again today. This is a major resistance level for the UK index.”

The markets are currently waiting for EU policymakers to present a specific plan to address the European debt crisis, which German Chancellor Angela Merkel and her French counterpart Nicolas Sarkozy said would come within a few weeks.

Resources stocks were among the heaviest fallers in London today, hit by concerns that Europe’s debt issues could lead to slower economic growth and reduce demand for energy.

Oil and gas firm Cairn Energy (LON:CNE, down 3.8pct at 286.5p) hit the bottom of the FTSE 100 pile, followed by mining majors Antofagasta (LON:ANTO, down 3.5pct at 1,056p) and Xstrata (LON:XTA, down 2.8pct at 911.3p). For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

uk stock market

• How payday loan bullies are stealing your cash
• UK stock to watch Invensys, Taylor Wimpey, Vodafone nov 12 2012
• UK Economic out of the double-dip recession report today oct 25 2012
• UK retail sales report september 26 2012
• average payment to a UK bank 2011
• Royal Bank of Scotland shares prices for 8/31/2012
• Lloyds Banking shares prices for 8/31/2012
• London stocks FTSE outlook 8/31/2012
• official figures US economic growth q2 2012
• London stock market closed 8/27/2012
• ETFs Stocks to watch week 27-31 august 2012
• UK Equity markets market closed july 24, 2012
• UK stock market week july 23-27, 2012
• UK Bank Scandals as profits rise, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Barclay
• UK banks need more capital to withstand an escalation in the eurozone crisis
• FTSE 100 stock outlook june 7 2012
• London stock market FTSE 100 down may 23 2012
• impact of Greek exit from Eurozone on UK Economy
• FTSE 100 outlook open may 14 2012
• FTSE stock closed today april 30 2012
• FTSE 100 Risers, Fallers april 26 2012
• Tesco market shares april 2012
• Why Skyepharma stock prices up more than doubled
• FTSE100 expected to open lower today april 23 2012
• British stock market focus next week april 23-27 2012