ANNO XVI Gennaio 2022.  Direttore Umberto Calabrese

Lunedì, 06 Luglio 2015 22:16

Greek banks still closed, European markets plummet Featured

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Rome - European markets dropped on Monday after Greeks voted "No" in the referendum on the bailout conditions for Athens. The session had already opened with all stock exchanges in the red; Milan's Piazza Affari closed with the worst results. With a weighty banking sector, the FTSE MIB fell by 4.03 percent to 21,600 points, the first time it closed under 22,000 points since February, while the All Share dropped by 3.85 percent to 23,099 points. In the banking sector, MPS lost 11.51 percent, Unicredit 6.12 percent, and Intesa Sanpaolo 5.98 percent. All sectors, from industry to energy, closed with losses. Only STM closed higher, gaining 1.72 percent.

  Frankfurt's Dax dropped by 1.65 percent to 10,875.80 points, London's FTSE 100 by 0.78 percent to 6,534.48 points, Paris's Cac 40 by 2.01 percent to 4,711.54 points, and Madrid's Ibex by 2.14 percent to 10,548.7 points. The spread between 10-year Italian BTPs and German Bunds increased to 163 basis points from under 150 points. The spread between Bunds and Spanish Bonos closed at 161 points. Greek banks stayed closed on Monday, with rumours that they would remain closed till Friday or even next Monday eventually being dispelled by the president of the association of Greek banks, Louka Katseli. Katseli said the closure would be extended to Wednesday. The daily ATM withdrawal limit of 60 euros remained in place. The European Union is still waiting for "new proposals" from the Greek government and the "doors remain open for negotiations", Angela Merkel's spokesman said. However, he added, Berlin does not feel that conditions are ripe for the talks to resume or to discuss a third aid package. The spokesman for Germany's Finance Minister Wolfgang Schauble said Berlin "does not intend to change its budget programs" and that cutting Greece's debt "is not on the agenda". (AGI)

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