German shares slid on Monti's resignation announcement

Source: Dukascopy Bank SA
© scanpix/reuters
German equities were little changed as Greece rescheduled the deadline on bond buyback offer and Italy's Prime Minister announced of his resignation after the former Prime Minister withdrew his support for the government, while Berlusconi seeks to return to power. The shares were also affected by Greece extending a deadline to spend 10 billion euros to buy back the sovereign debt until tomorrow's midday.

The DAX index swung between gains and losses and slid 0.01% to 7,518.75 by 15:00. The index has surged 26% since this year's low in June when the ECB's president announced unlimited bond-buying program.  The experts forecast further rally in the index until the end of this year. Four out of nine sectors shrank, while Technology sector stayed unchanged.  The Consumer services and Utilities sectors fell the most, down 1.24% and 0.99%, respectively.  Among the best performers was Volkswagen that advanced 0.78%, after company revealed its race car Polo R WRC Racer. Adidas surged 0.59% as it had run its advertising campaign around one of the footballing highlights Barcelona star Lionel Messi's new goal-scoring record. The company gaining the most was Merck KGaA adding 1.15%, whereas the worst performer was Hargreaves Lansdown losing 2%.


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Mon, 10 Dec 2012 18:26:49 GMT

S&P 500

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