European stocks decline as investors await Greek bailout talks
[FRANKFURT] European stocks declined amid investor concern that Greek Finance Minister Yanis Varoufakis won't reach an agreement on new bailout terms at a meeting with his euro- area counterparts in Brussels.
The Stoxx Europe 600 Index fell 0.3 per cent to 371.82 at 2.25 pm in London. The yield on three-year Greek notes jumped 115 basis points to 20.66 per cent, while the ASE Index lost 4.8 per cent, the most among 18 western-European markets. Benchmark equity indexes in Spain and Portugal slid at least 0.9 per cent.
"At the moment, it's still about the Greek story," said Benno Galliker, a trader at Luzerner Kantonalbank AG in Lucerne, Switzerland. "There will likely be some compromise but investors are waiting until there's a solution. There are still risks out there for equity investors, but they should be buying on the dips."
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Yen surges against US dollar on suspected intervention
Singapore stocks start week in the black ahead of Fed meeting; STI up 0.1%
Sembcorp announces long-term power purchase agreements with Equinix
Asia: Shares rise as Fed looms large; yen crumbles below key level
Singapore stocks decline at Monday’s open; STI down 0.3%
Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium, Best World