Europe will carry on dictating the markets today with all eyes on Greece and Karolos Papoulias’s last attempt to form some sort of coalition that can agree on what the rest of Europe wants them to do. Last week Greece’s European creditors withheld 1 billion euros out of a promised 5.2 billion euro loan which in hindsight probably didn’t sit well with an already deteriorating sentiment in the Greek officials camp.

The likelihood of Greek exist from the euro and new election seems more and more real pushing the markets into the red as investors price in the worse, on the other hand Germany beats analysts estimates with better than expected GDP numbers temporarily helping major indices back into positive.

Posted by Khurram Ali | Account Executive (kali@valbury.co.uk)