FTSE 100 retreats from strong morning gains

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Source: Dukascopy Bank SA
UK FTSE 100 accelerated in the Monday morning session boosted by initial Greek election results. However, index retreated during session the victory of pro-austerity forces failed to provide sustainable rally in the European markets. Banks posted losses after Spanish yields surpassed 7% level. Lloyds Banking Group fell 2.8% and Royal Bank of Scotland Group tumbled 4%. Rolls-Royce Holdings climbed 1.5% after the company signed a $1.6 billion contract worth with the Ministry of Defense to produce reactor cores for UK nuclear-powered-submarine fleet. 

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Mon, 18 Jun 2012 13:42:56 GMT

German DAX index

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