- Title: GERMANY: Markets strained by renewed debt fears
- Date: 17th May 2011
- Summary: FRANKFURT, GERMANY (MAY 16, 2011) (REUTERS) VARIOUS EXTERIORS OF FRANKFURT STOCK EXCHANGE VARIOUS OF TRADING FLOOR VARIOUS OF TRADERS BANKING STOCKS TRADERS NEWS TICKER ABOUT STRAUS-KAHN ARREST (SOUNDBITE) (English) OLIVER ROTH OF CLOSE BROTHERS SEYDLER BANK AG, SAYING: "The Strauss-Kahn affair doesn't affect the stock exchanges right now. We are much more concerned about the summit of the EU finance ministers today and the results of it. We hope that everything will go smoothly so that at the end of the road, Greece and Portugal will get help." VARIOUS OF BOARD SHOWING DAX CURVE
- Embargoed: 1st June 2011 13:00
- Keywords:
- Location: Germany, Germany
- City:
- Country: Germany
- Topics: Finance
- Reuters ID: LVA7XN1OICCBV131N0QQPJMYD4W9
- Aspect Ratio:
- Story Text: Germany's DAX starts the new week in the minus due increased jitters over the euro zone debt crisis and added pressure after the arrest of IMF chief Strauss-Kahn in New York .
The ongoing insecurity about the state of European state finances put pressure on the German markets at the start of trading on Monday (May 16) Germany's DAX was down 0.82 percent at 7350 at 0810GMT, ahead of a meeting of Euro finance ministers in Brussels.
The Euro also fell to a seven-week low against the dollar on Monday after International Monetary Fund chief Dominique Strauss-Kahn was charged with sexual assault over the weekend, raising uncertainty over the status of aid to Greece and other debt-stricken countries.
Meeting on Monday, euro zone finance ministers are likely to back a bailout package for Portugal, with new conditions set by Finland, in talks overshadowed by charges against Strauss-Kahn, while the meeting was also expected to pressure Greece to announce more austerity steps to secure further emergency funding.
Traders in Frankfurt said they that their focus was on the results of the euro zone meeting in Brussels.
"The Strauss-Kahn affair doesn't affect the stock exchanges right now. We are much more concerned about the summit of the EU finance ministers today and the results of it. We hope that everything will go smoothly so that at the end of the road, Greece and Portugal will get help," said Oliver Roth of Close Brothers Seydler Bank AG. - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None
