The Stoxx Europe 600 index ended down 0.2% at 264.87. The U.K.'s FTSE 100 index rose 0.1% to 5892.75 and Germany's DAX index rose 0.3% to 6901.35, while France's CAC-40 index edged 0.1% higher to 3490.06.
Greece's ASE Composite lost 2.5% to 733.89, while Portugal's PSI index fell 1.5% to 5570.12. Investors refrained from building positions, as they weighed the significance of a Greek credit event.
The International Swaps and Derivatives Association, the regulatory authority on credit-default swaps, ruled late Friday that the Greek debt restructuring was a credit event, thus triggering payouts.
This helps the integrity of the credit-default swaps market but adds to the nervousness in markets. Greek bonds issued after the country's bond-swap deal last week began trading Monday at the highest yields in the euro zone.
Meanwhile, the Stoxx Europe 600 basic resources index was one of the biggest sector decliners, falling 1.2% after China posted a surprisingly high $31.48 billion trade deficit for February, following a $27.28 billion surplus in January.
In London, heavyweight miner Rio Tinto declined 1.7% and Vedanta Resources PLC was off 3.7%. Energy firms were also lower: Petrofac lLC lost 1.1%, while Royal Dutch Shell was off 0.6%.
Economic data were sparse, although the release of fourth-quarter Italian gross-domestic-product data confirmed that the country fell into recession.
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:
European Stocks market
- Stoxx Europe 600 index Forecast 2013
- European Stock Market Forecast 2013
- European stock market and Italian bonds down dec 11 2012
- Europe stock markets advanced october 17 2012
- European stock market will open down october 12 2012
- Mario Draghi ECB Press Conference october 4 2012
- European stock markets higher october 2 2012
- european stock futures down october 1 2012
- European stock market rose september 28 2012
- impact protests in Greece and Spanish on stock market
- Effect Spanish recession on stock market
- European stock market drop 9-26-2012
- European Stock markets september 21 2012
- European stock markets 9/18/2012
- European stock markets lower september 17 2012
- European stock futures down 9/10/2012
- German constitutional court decision prediction
- Euro govt Bonds fall before ECB meeting 9/6/2012
- European stock markets sept 6 2012
- European Stock markets rose september 3 2012
- Eurozone Purchasing Managers PMI report 3 september 2012
- ECB President Mario Draghi will speech at Brussels sept 3 2012
- Europe economic forecast September 2012
- European stocks market august 31 2012
- Expectations ECB will bond buying plan
No comments:
Post a Comment