European stocks fall as Greek debt plight looms
Source: AP-Excite
By ELAINE KURTENBACH
TOKYO (AP) — European shares fell Tuesday as markets reopened after holidays in several countries, as concerns over Greece's debt crisis overshadowed news from China of support for new infrastructure projects.
KEEPING SCORE: Germany's DAX sank 0.8 percent to 11,720.64 and France's CAC 40 dropped 0.6 percent to 5,085.84. Britain's FTSE 100 lost 0.6 percent to 6,986.48. Wall Street was poised for a weak post-Memorial Day holiday start. Dow futures were down 0.3 percent at 18,168.00. S&P 500 futures fell 0.4 percent to 2,117.20.
EUROPEAN WOES: Worries persist that Greece might miss looming IMF repayments if it fails to receive bailout funds from creditors demanding it outline reforms and promise to meet cost-cutting targets. Athens is struggling to achieve greater austerity and clean up its finances without risking a relapse into recession. Meanwhile, the weak showing in local elections of Spain's ruling Popular Party, especially in its traditional power bases of Madrid and Valencia, highlighted voter displeasure with the government's handling of the eight-year economic crisis and the country's 24 percent unemployment rate.
THE QUOTE: "There will be a couple of dominant themes with Greece developments remaining at the forefront while political developments in Spain also deserve some attention," market strategist Stan Shamu of IG said in commentary.
FULL story at link.
A woman rides a bicycle past an electronic stock board of a securities firm in Tokyo Tuesday, May 26, 2015. European shares were mixed Tuesday as markets reopened after holidays on Monday, overshadowed by concerns over Greece{2019}s debt crisis. Asian shares gained as news from China of support for new infrastructure projects and a decision to slash tariffs on consumer goods spurred the Shanghai index to fresh highs. (AP Photo/Eugene Hoshiko)
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