European shares slide on Greek debt fears

Europe’s main stock markets mostly slid Monday as the banking sector took a hit from concerns over Greece’s unresolved crisis, dealers said.

The AFP reported that London’s benchmark FTSE 100 index of top companies shed 0.15 per cent to 6,950.12 points in afternoon deals while in Paris, the CAC 40 index fell 0.32 per cent to 4,978.04 points.

Frankfurt’s DAX 30 bucked the trend, rising 0.57 per cent to 11,512.33 points compared with the close on Friday.

Athens stocks shed 1.84 per cent, while Milan dived 1.48 per cent in value.

“Greek banks are running short on collateral and there are mounting concerns that the country may be forced to implement capital controls if a deal cannot be reached quickly – which is weighing on sentiment and driving Greek equities lower and borrowing costs higher,” said Rebecca O’Keeffe, Head of Investment at online stockbroker Interactive Investor.

[Punch]

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