29 May 2012

European markets down

8:41 am on 29 May 2012

Most European stock markets fell on Monday because of bank strains in Spain, but a deep slump was avoided after opinion polls pointed to a win for pro-austerity conservatives in next Greek election.

The FTSE 100 index in London firmed by 0.1%, the DAX in Frankfurt dropped 0.25% and the CAC-40 in Paris fell 0-.16%.

The IBEX in Spain saw the biggest fall, down 2.2%.

Financial markets in the United States were closed for the Memorial Day public holiday.

The Australian 200 Index rose 39 points, or almost 1%, to finish at 4068 on Monday. The NZX50 fell 24 points to 3462

At 8.23am on Tuesday the New Zealand dollar was trading at 76.04 US cents, 77.25 Australian cents, 48.52 pence, 60.48 yen and 0.6067 euro. The Trade Weighted Index was at 69.32.

Brent crude oil was trading at $US108.98 per barrel and gold was trading at $US1574.15 per ounce.