View the article online at http://citywire.co.uk/money/article/a552095
FTSE falls as eurozone summit fails to impress ratings agencies
Markets fall after a weekend of reflection on the European summit, which provided no immediate solution to the sovereign debt crisis.
The euro fell dramatically as it lost 1.46% against sterling to €1.3184.
Stock markets in Europe made a loss: Germany’s DAX index dropped 3.34% to 5,786, France's CAC 40 index lost 2.61% to 3,089, and the FTSEurofirst 300 index of top European shares fell 1.7% to 969.
Stateside markets followed Europe’s performance to open with losses across the board. The Dow Jones Industrial Average shed 1.73% to 11,972, the Standard & Poor's 500 index fell 1.69% to 1,233, and the Nasdaq Composite index dropped 1.94% to 2,595.
The dollar strengthened up 1.145 to 79.5 cents against sterling and there was an influx of purchases into US treasuries as yields fell back to 1.996% from 2.066%. Gold prices fell to $1,662 an ounce.
Other company news
Mothercare (MTC.L) gained 7.4p, or 4.6%, to 168p on reports that private equity house Cinven is considering buying the beleaguered retailer.
News sponsored by:
After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
More about this:
Look up the shares
- GlaxoSmithKline PLC (GSK.L)
- Diageo PLC (DGE.L)
- Lloyds Banking Group PLC (LLOY.L)
- Domino Printing Sciences PLC (DOPR.L)
- Mothercare PLC (MTC.L)
More from us
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.
by Daniel Grote on May 24, 2016 at 16:19