With a new government to be formed in Greece attention turned to Italy last night as the Italian ten-year yield rose dangerously higher. Dow up 82.
Brokers spent last week discussing where they see the global and Australian equity markets in light of the announcement of an outline of a plan to save Europe.
Has Germany’s Angela Merkel given up on the idea of a quick solution to Europe’s financial woes while Papandreou soon will be Greece’s PM no more?
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
The Switzer Super Report’s JP Goldman examines the knock-on effects to Australia of ongoing difficulties in Europe.
The referendum is off it would seem but Papandreou must still face a confidence vote. It was good enough news for Wall Street. Dow up 208.
Markets around the world rebounded last night without any particular change in the European situation or anything particularly new from the Fed. Dow up 178.
The Greek prime minister’s insistence on holding a referendum on the latest austerity measures means the plan to save Europe is now up in the air. Dow down 297.
MF Global filed for bankruptcy last night due to sovereign debt exposures while markets remain unconvinced about Italy and the BoJ intervenes. Dow down 275.