markets hold breath ahead of eu crisis summit
Sunday 6 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Markets hold breath ahead of EU crisis summit

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Markets hold breath ahead of EU crisis summit

Moscow - Ria Novosti

Financial markets showed little reaction on Wednesday in expectation of few concrete decisions from the European Union\'s upcoming debt crisis summit in Brussels later today, analysts said. European leaders are gathering for the fourteenth crisis summit in 21 months to discuss the Greek debt relief program, recapitalization of banks and the enlargement of Europe\'s 440 billion euro ($610 billion) rescue fund. \"Today\'s summit is unlikely to give answers to all the outstanding questions. Most likely, Germany and France as the powers responsible for the anti-crisis plan will outline general areas of work,\" Invescafe analyst Anna Bodrova said. \"The percentage of the Greek debt write-off is still an unresolved issue. If private investors have to write off over 55 percent of the debt, the market will be swept by a wave of risk aversion. The size of the European Financial Stability Fund (EFSF) and the mechanism for its replenishment and operation have also not been agreed in full,\" Bodrova added. The EU countries originally set up the EFSF in May 2010. At an EU summit in July 2011, leaders of the eurozone states decided to enhance the powers of the EFSF by allowing it to buy bonds on the secondary market, recapitalize banks and raise its guarantee commitments to 440 billion euros. The media reported late on Tuesday that several European countries had reached agreement on a 100 billion euro bank recapitalization and an increase of Europe\'s bailout fund, Finam Management senior analyst Alexander Osin said. \"In particular, according to information circulating on the market, they plan to create an international fund using the structures of the International Monetary Fund to accumulate funds and invest them in the European bond market,\" Osin said. Market activity will be low as market players will be waiting for European leaders to outline their plans at the summit, analysts predicted. \"The concerns that today\'s EU summit will not offer a long-awaited solution to Europe\'s financial problems have forced market players to take profit on stock markets. Today European authorities are most likely to announce their action plans to stabilize the financial situation in Europe but specific figures will hardly be made public today,\" TKB Capital said in a research note. Uncertainty over the EU debt crisis solutions pushed up gold prices, while commodity prices remained relatively stable. European stocks showed mixed dynamics by Wednesday\'s midday trade. London\'s FTSE rose 0.08 percent to 5,529.94, Germany\'s DAX went down 0.03 percent to 6,045.16 and France\'s CAC 40 fell 0.05 percent to 3,172.74. The U.S. Nasdaq fell 2.26 percent to 2,638.42 while Dow Jones lost 1.74 percent to 11,706.62. Russian stock exchanges are trading in positive territory on Wednesday. \"News from Europe will appear after the close of Russian stock exchanges and hardly any active movement can be expected at today\'s trading session,\" TKB Capital said. The Russian ruble, which has been strengthening against the dollar/euro bi-currency basket in the past few days, fell 7.61 kopecks to 30.57 per dollar in today\'s trade. \"Generally speaking, today\'s potential decisions have been priced in the euro rate and I don\'t expect any considerable fluctuations in the single European currency in the middle of the week. The euro/dollar pair may fluctuate within a narrow range until the end of the week in anticipation of the announcement of the plan\'s details, but then has the chance of going down as the euro was overbought and investors may be disappointed by EU decisions,\" Bodrova said. The ruble is expected to range within 30.45-30.65 per dollar by the end of this week, she added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

markets hold breath ahead of eu crisis summit markets hold breath ahead of eu crisis summit

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

markets hold breath ahead of eu crisis summit markets hold breath ahead of eu crisis summit

 



GMT 05:04 2024 Tuesday ,06 February

Skincare PR Performance Full Year 2017

GMT 10:08 2018 Wednesday ,24 January

Microsoft to open 4 data centres

GMT 23:35 2017 Saturday ,14 October

HM King congratulates French President

GMT 10:32 2017 Thursday ,10 August

No. 1 Murray out of Cincinnati with hip injury

GMT 07:10 2017 Monday ,06 February

Ahmed Zaher performs surprise role in new show

GMT 08:24 2017 Thursday ,04 May

Nahyan receives Speaker of Parliament

GMT 10:45 2017 Sunday ,12 February

Lebanese actress Nour praises “Good Night” film

GMT 20:15 2017 Friday ,18 August

Kuwaiti oil price up 24 cents to US$47.65 pb

GMT 21:32 2017 Saturday ,27 May

LMRA chief meets Indian ambassador

GMT 10:00 2018 Tuesday ,16 January

Volkswagen reports record global car sales

GMT 11:08 2018 Sunday ,07 January

More than 200 migrants storm Morocco-Spain border

GMT 13:35 2017 Wednesday ,22 March

Oman shares fall taking cues from regional bourses
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice