Photo: GiddeanX via Flickr
European equities saw mediocre performance today, with mixed results. First, the numbers:DAX: +0.83%
CAC 40: -0.48%
French banks lost out reversing gains yesterday, with Credit Agricole down 5.99%, SocGen off 1.36%, and BNP Paribas falling 6.89%.
A press conference featuring EU leaders Jean-Claude Trichet, Olli Rehn, Jean-Claude Juncker, and Klaus Reigling failed to reassure markets that eurozone countries were making progress towards agreeing upon a Finnish collateral deal or implementation of the European Financial Stability Facility.
Further, the time frame set for the Greek bailout is particularly worrisome, as the IMF/EU/ECB troika won’t decide whether to give Greece its next round of aid until October. Greece will supposedly default sometime next month without more money.
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