Greece Diving, Euro Tanking, G7 Prepares For Emergency Phone Call

candles

Photo: Wikimedia Commons

ORIGINAL POST, SEE UPDATE BELOW: Europe is trying to make it two in a row.Ongoing buzz about leaders there cooking up some deal is keeping markets afloat.

Spain’s IBEX is up 0.7%.

Italy is up nearly 1%

France is up 0.6%.

Interestingly, Germany is only flat, marking the second straight day of major underperformance.

Asia had a solid night, as Japan and Korea both posted gains of about 1%.

We’ve had a string of service PMI numbers today all of which have been mediocre.

Also overnight, the Reserve Bank of Australia cut rates by 25 basis points.

UPDATE: And the really is fading.

Italy is now in the red, to the tune of 0.25%.

Germany is off 0.6%

Greece is totally tanking again.

Here’s a chart of the Euro overnight, via FinViz:

image

Photo: FinViz

Meanwhile, at 7:00 AM ET, the G7 will hold an emergency call on Spain.

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