News from the world’s financial markets by stock market expert Marcus Padley.
The Greek stock market was up 6.87% on the back of the weekend's healthy opinion polls which suggested pro austerity/bailout parties may be able to form government.
The newly nationalised Spanish Bankia bank puts its hand out for €19bn in rescue funds.
The Dow Jones closed up 34 -- up 44 at best and down 76 at worst.
US markets saw a late rally after early falls mirroring European market fears of a Greek exit from the euro.
Market up for much of the session after strong US housing data but gains were lost in the last half hour on talk that Greece was preparing for an exit from the euro and as the OECD downgraded eurozone growth to almost zero.
The S&P500 had its biggest gain in two months after China signaled that they would continue to make growth a priority.
Facebook’s debut closed at the tiniest of premiums and smacks of a concerted support operation which cannot last if the market continues to tank.
European markets all down over 1%. Financials led the fall as the run on Greek banks continues.
The Dow has been down in 9 of the last 10 sessions.
Greek negotiations continue in an effort to form government with no immediate solution.
