US Stocks Plunge on Greek Crisis Fears, Deadline Tonight for Greek Repayment of €1.6 bil. to t
June 30, 2015 6:00 am
U.S. stocks fell heavily whilst Asian shares stayed near five month lows in heavy trading on Monday and the S&P 500 and the Dow had their worst day since October after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the Euro zone. The Nikkei share average ended 0.6% higher at 20,235.73, the Dow tumbled by 350 points to close at 17,596 and the S&P500 dropped 43 points to close at 2,057.
The Euro picked itself off a four-week low of $1.0955 struck overnight, but remained closeted in a narrow range in Asian time as investors waited for further developments. It was last changing hands at $1.1190 per Dollar. The Dollar was broadly flat on the day at 122.32 Yen after falling to a one-month low of 122.10 Yen on Monday. U.S. crude oil futures extended their fall after sliding more than 2% on Monday to three-week lows. U.S. crude was down about 0.1% at $58.03 a barrel.
Within the equity space a 30% rise in new customer numbers in the first half of the year helped online grocery company Ocado drive robust growth in revenue and operating profits despite the fierce industry competition. Revenues swelled 18.2% to £507.7m in the 24 weeks to 17 May, with earnings before interest, tax, depreciation and amortisation increased by 11.4% to £38m. Ocado stock opened3.5% lower at 413p per share.
The Greece situation rolls on; after failing to secure a funding deal with creditors, Athens has effectively run out of time to come up with the cash to repay the IMF €1.6bn by the 23:00 deadline this evening. The Greek government has called a referendum for the 5th July and has urged the public to vote against creditors’ demands in an effort to help it negotiate a better bailout deal. In the meantime, banks will remain closed until after the vote.
U.S. stocks fell heavily whilst Asian shares stayed near five month lows in heavy trading on Monday and the S&P 500 and the Dow had their worst day since October after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the Euro zone. The Nikkei share average ended 0.6% higher at 20,235.73, the Dow tumbled by 350 points to close at 17,596 and the S&P500 dropped 43 points to close at 2,057.
The Euro picked itself off a four-week low of $1.0955 struck overnight, but remained closeted in a narrow range in Asian time as investors waited for further developments. It was last changing hands at $1.1190 per Dollar. The Dollar was broadly flat on the day at 122.32 Yen after falling to a one-month low of 122.10 Yen on Monday. U.S. crude oil futures extended their fall after sliding more than 2% on Monday to three-week lows. U.S. crude was down about 0.1% at $58.03 a barrel.
Within the equity space a 30% rise in new customer numbers in the first half of the year helped online grocery company Ocado drive robust growth in revenue and operating profits despite the fierce industry competition. Revenues swelled 18.2% to £507.7m in the 24 weeks to 17 May, with earnings before interest, tax, depreciation and amortisation increased by 11.4% to £38m. Ocado stock opened3.5% lower at 413p per share.
The Greece situation rolls on; after failing to secure a funding deal with creditors, Athens has effectively run out of time to come up with the cash to repay the IMF €1.6bn by the 23:00 deadline this evening. The Greek government has called a referendum for the 5th July and has urged the public to vote against creditors’ demands in an effort to help it negotiate a better bailout deal. In the meantime, banks will remain closed until after the vote.
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