FX & CFD trading involves significant risk
European stocks fell as a German government spokesman said that euro-area leaders will not provide a complete fix to the debt crisis at their next meeting.
G-20 finance ministers and central bank governors concluded weekend talks in Paris endorsing parts of the emerging plan to avoid a Greek default, bolster banks and curb contagion. Stocks erased earlier gains after Steffen Seibert, German Chancellor Angela Merkel’s chief spokesman, told reporters in Berlin that European leaders won’t fulfill “dreams” of a quick end to the debt crisis at the Oct. 23 summit.
National benchmark indexes fell in all of the 18 western- European markets. France’s CAC 40 Index slipped 1.6 percent. Germany’s DAX Index lost 1.8 percent and the U.K.’s FTSE 100 Index fell 0.5 percent. Greece’s ASE Index plunged 3 percent.
National Bank of Greece sank 10 percent to 1.63 euros. Piraeus Bank SA retreated 9.1 percent to 26 euro cents. EFG Eurobank Ergasias tumbled 9.5 percent to 66.1 euro cents.
G4S Plc slumped 22 percent to 219.9 pence for its biggest slump in seven years. The world’s largest security provider agreed to acquire ISS for about 5.2 billion pounds ($8.2 billion), of which 3.7 billion pounds is assumed debt, to add cleaning and other facilities-management services and accelerate expansion in emerging markets.
BP Plc rose 2.2 percent to 425.55 pence. BP, Europe’s second-largest oil company, said Anadarko will pay to settle all claims over the world’s largest accidental oil spill.
SGL Carbon SE soared 13 percent to 42.75 euros, its highest price since August 2008. Bayerische Motoren Werke AG plans to buy a stake in the German maker of carbon and graphite materials, Spiegel said, citing an unidentified manager at the automaker.
Air France-KLM Group, Europe’s second-largest airline by sales, increased 1.4 percent to 5.61 euros. The company’s board meets today to vote on ousting Chief Executive Officer Pierre- Henri Gourgeon, according to two people with knowledge of the proposals.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.