Blood tears and cold sweats in the capital markets of the world

29 June 2015

Market_War-700x360-people re-el magazine

Blood, tears and cold sweats in all markets of the world, but the eurozone, really suffers from the crisis and the imposing capital controls and closed banks in Greece.

In London, the FTSE index opened down more than 2%.

In Paris, the CAC 40 index opened with a fall of 4.7% to form at 4821.45 points.

In Frankfurt, the Dax index opened with a fall that exceeded 3%.

In the region, the Spanish IBEX 35 lost 4.39%, Portuguese PSI 20 is moved 4.2% lower and the Italian MIB loses 4.78%.

Strong pressure on the bond yields of countries in southern Europe with the opening of the debt market because of the risks derived from a Greek exit from the eurozone.

Shortly after opening, the interest rates on ten-year Spanish bonds rose to 2.720% against 2.150% on Friday before closing. Interest rates on Italian bonds rose to 2.598% against 2.110 on Friday.

The euro is still expected to accept greater pressure during Asian trading. “The only thing we know for sure right now is that there is high uncertainty and that in such an environment, many markets will welcome those who are looking for safe investment havens,” said a commentary by the ANZ Bank and poses the following questions:

– “Failure to repay the IMF means immediate exit of Greece from the euro?

How schedule is formed?

How to behave depositors of banks of other countries in the European region?

The Fed to raise interest rates against a more fragile global economic environment?

At the same time, Deutsche Bank analysts expected the sharp drop Monday for the DAX index in Frankfurt because of the dramatic developments in Greece. Sunday night the futures of the German index was at -4%.

Oil prices retreated today in Asia, as Asian stock markets worried about the Greek debt crisis.

Prices for the “light sweet oil” -the Texas crude oil deliveries WTI- August fell by 82 cents to stand at $ 58.81 a barrel, while oil Brent North Sea for August delivery also fell by 70 cents barrel in 62.56, $ 40.

Asian stock markets fell as such and the euro, because of fears for the exit of Athens from the Eurozone.

In the middle of the meeting in Sydney was falling 1.81%, 1.45% Seoul, Taipei 1.90%, while Hong Kong in the second part of the meeting was dropping 3.63%.

“It’s the consequences after the Greek government’s decision to hold a referendum and this situation is expected to last this week,” said the United Overseas Bank of Singapore in a statement.

Daniel Ang, analyst at Phillip Futures in Singapore, believes that the weakening of the euro “could lead to a further fall in crude oil prices.”