Portugal fears rock euro and the Footsie

halight

The EU has flatly denied it is working on a bailout for Portugal - but doubts about the country's finances have prompted UK shares to plunge again and the euro to struggle.
Euro trouble: Single currency slides again as official denials fail to quash fears about a Portugal bailout
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• Euro crisis could cost UK more
• Fear over Belgian economy

FTSE LATEST

5656.03-42.90

As fears mounted that the crisis in Ireland would spread to other eurozone countries like Portugal, Spain and even Belgium, the Footsie dived 91.8 points to 5,607.1.

Read more: http://www.thisismoney.co.uk/news/article.html?in_article_id=518947&in_page_id=2#ixzz16Or85ula

Looks like the trouble is moveing on to the next week link in the euro area.

We are not in the euro but how much do you think this will affect us?

The ftse 100 is back on the up and has made back some of the loss from opening

amcluesent

You can't buck the Market!

1984ReturnsForReal_2

I see it recovered then.

halight

1984ReturnsForReal wrote: »

I see it recovered then.

Yes only down 30 points
FTSE 100

(FTSE: ^FTSE )

Index Value:5,668.70Trade Time:16:35Change:30.23 (0.53%)Prev Close:5,698.93Open:5,698.93Day's Range:5,599.29 - 5,699.0252wk Range:4,790.00 - 5,902.10

Mr_Mumble

1984ReturnsForReal wrote: »

I see it recovered then.

Amusingly this has been the pattern over the past three weeks for global equity indicies*. Declines in the morning based on bearish trading in Europe (and usually in Asia too) followed by a rally in the afternoon when European markets close and the Americans take over. Watching CNBC is an education of sorts: the US doesn't give a damn, its all about the US and emerging markets, Europe is irrelevant. We could be in for a sudden shock though. Spanish banks are responsible for a lot of emerging market lending, especially in Mexico. Signs of contagion here could see equity markets fall dramatically with money flooding back into US treasuries.

*i.e. FTSE 100 and S&P 500. The Spanish IBEX 35 isn't so lucky.

1984ReturnsForReal_2

Mr_Mumble wrote: »

Amusingly this has been the pattern over the past three weeks

London are just watching what is happening in the US & trying to predict it.

Been going on for days from what I have seen.

(not that I know much or normally watch it but I am thinking a big drop of 300ish points is due soon so just browsing to see if I am correct or not.)

amcluesent

ECB is running the printing presses for sure. They thought that the hedgies believed the ECB was just the Bundesbank with a new name and would never be shorted. No so, the ECB has been behaving in ways that will horrify the Germans (once it all comes out!) by buying junk bonds from Club Med.

The Eurocrats and troughing politicians ignored all advice that the Euro should be the last act of integration, not used as the trigger for political convergence.

At the very best, Club Med will now be run by the men in grey suites and citizens will see their quality of life tumble under austerity measures lasting a decade or more.

More likely, the PIIGS will have a disorderly exit from the Euro due to civil unrest and the emergence of nationalist administrations

FACT - I predict a riot!

1984ReturnsForReal_2

amcluesent wrote: »

FACT - I predict a riot!

The powers that be predicted that reaction a few years ago.