DAX index falls as Euro Zone FMs hold off on Greece

Source: Dukascopy Bank
German DAX 30 plunged on Friday, pushed down by financial shares and car makers after Euro-Zone finance ministers decided to defer a bailout package for Greece. Commerzbank tumbled 6% while Deutsche Bank fell 4%. BMW AG lost 2.9%, Volkswagen PFD dropped 3% while Daimler AG edged down 1.5%. Moreover Euro fell against greenback to USD 1.3177. At the moment of writing German Dax is 1.69% or 114.73 points down at 6,674.99. 

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Mon, 13 Feb 2012 06:41:01 GMT

Austerity measures approved by Greece's parliament

Greek PM Papademos got majority support in parliamentary vote to approve austerity plan and secure the second bailout package. 199 parliament members voted in favour while 74 lawmakers voted against. On February 15 Euro Zone finance ministers will decide on approving EUR 130 billion aid for Greece. In the meantime thousands of rioters keep protesting against austerity measures in down town Athens. 

Fri, 10 Feb 2012 15:03:25 GMT

FTSE tumbles as Greece rescue postponed

UK FTSE index opened lower on Friday and extend losses during session after European officials said Euro area countries will not deliver EUR 130 billion rescue funding until Greece will not implement its austerity plan. National Grid Plc dropped 1.4% after JPMorgan Chase & Co. revised down its recommendation on the shares. The main gainer was Barclays Plc, which surged

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