FRANCE: Greek, Eurozone worries, maintain pressure on European shares

Record ID: 860214

  • Title: FRANCE: Greek, Eurozone worries, maintain pressure on European shares
  • Date: 22nd May 2012
  • Summary: PARIS, FRANCE (MAY 21, 2012) (REUTERS) VARIOUS KBL RICHELIEU, A PARIS ASSET MANAGMENT FIRM SCREENS, ACTIVITY (SOUNDBITE) (French) JEREMY GAUDICHON, KBL RICHELIEU ASSET MANAGER, SAYING: "Markets came off sharply last week. There's no major news today. Nothing really substantive came out of the G8 this weekend. So in the absence of news, the markets are stabilising and trying to bounce back up. It's pretty classical after a phase of heavy falls." SCREENS, GRAPHS (SOUNDBITE) (French) JEREMY GAUDICHON, KBL RICHELIEU ASSET MANAGER, SAYING: "It would seem at the moment that European policymakers want to keep Greece in the euro zone. But this decision is above all in the hands of the next Greek leaders. And today we're in a situation of total uncertainty because the outcome of the vote on June 17 in Greece, is really very uncertain." VARIOUS TRADING ROOM
  • Embargoed: 6th June 2012 13:00
  • Keywords:
  • Location: France
  • City:
  • Country: France
  • Topics: European Union,Economy
  • Reuters ID: LVA3LXRINO2NF5WC1B1V899DA1KT
  • Aspect Ratio:
  • Story Text: European stocks remained under pressure at midmorning on Monday (May 21), with share prices in Paris and London attempting a timid rebound but those in Italy and Spain posting losses.
    Worries about whether Greece will be able to remain in the euro zone if anti-austerity parties win general elections on June 17 forced all markets to five-month lows at the opening, before some buying emerged to lift Paris, London and Germany.
    By 0935 GMT, those markets were up 0.5, 0.3 and 0.7 percent respectively, while Milan was off 0.9 percent and Madrid was a full point in the red.
    "Nothing really substantive came out of the G8 this weekend. So in the absence of news, the markets are stabilising and trying to bounce back up. It's pretty classical after a phase of heavy falls," said Jeremy Gaudichon, a fund manager at KBL Richelieu.
    The key to most markets' future, he said, was Greece.
    "It would seem at the moment that European policymakers want to keep Greece in the euro zone. But this decision is above all in the hands of the next Greek leaders. And today we're in a situation of total uncertainty because the outcome of the vote on June 17 in Greece, is really very uncertain," he said.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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