25 Jan 2012

Markets down as Greek debt talks falter

9:02 am on 25 January 2012

Stocks have fallen in Europe and on Wall St, as talks to resolve Greece's debt crisis faltered. Private creditors are being asked to accept a lower interest rate on their loans to Athens.

A deal is necessary for Greece to receive the bailout funds it needs.

The Dow Jones Index on Tuesday was down 42 points to 12,667 and the

Nasdaq Composite was flat at 2784.

In Europe: the FTSE 100 in London fell 0.7%, the DAX in Frankfurt was down 0.5% and the CAC-40 in Paris was down 0.7%.

The Nikkei in Tokyo rose 19 points to 8785.

Across the Tasman, the Australian 200 Index fell 1 point to close at 4224 and

the NZX-50 fell 27 points to 3268.

At 8.15am on Wednesday, the New Zealand dollar was trading at 81.09 US cents, 77.38 Australian cents, 51.92 pence, 63.02 yen and 0.6222 euro.The Trade Weighted Index was at 71.89.

Brent crude oil was trading at $US109.58 per barrel and gold was trading at $US1667.36 per ounce.