Sunday, May. 20, 2012 |
European stocks slide despite Greek rescue deal
Page last updated at 05:59 GMT, Tuesday, February 21, 2012 - 10:59 EST
AFP:
Europe's main stock markets fell Tuesday and the euro pulled lower, reversing early gains, as investor enthusiasm waned after news of another massive eurozone bailout for Greece.
In late morning deals, London's FTSE 100 dipped 0.35 percent to 5,924.74 points, Frankfurt's DAX 30 slid 0.78 percent to 6,893.71 points and the Paris CAC 40 was off 0.80 percent to 3,444.71 points.
Eurozone finance ministers sealed an unprecedented deal early on Tuesday for a new 237-billion-euro ($310 billion) bailout that is designed to keep Greece in the eurozone.
The euro soared as high as $1.3293 within minutes of the announcement from Brussels, compared with $1.3185 immediately before. However, it pulled back to stand at $1.3237 in London late morning deals.
Luxembourg Prime Minister Jean-Claude Juncker unveiled the deal to "secure Greece's future in the eurozone" after 13 hours of talks between governments, the European Union, the International Monetary Fund and private creditors.
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