|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Wednesday 08th of October 2008
May 30, 2005

Business in usual in Europe after no vote


by Brian Turner
Business in usual in Europe after no vote

Business was pretty much as usual in Europe the day after France voted to reject the European Union constitution on Sunday.

The vote did send the euro down 0.9 percent in relation to the US dollar, a 7-month low.

And, even though this was the expected outcome to the referendum and the effect on markets was not that great, eurozone bond prices fell and yields went up as the 10-year Bund rose 0.3 basis points to yield 3.319 percent.

Equities markets were up as analysts said that the lack of a constitution would not make that much of a difference to the way the European Union operates.

The FTSE Eurofirst 300 rose 0.5 percent to 1,106.79, while in Paris the CAC-40 closed at 4,134.87, up 0.1 percent.

The Turkish markets also seemed to take the results of the French election in stride as the president of the European Commission said that the outcome would not stall talks on Turkey’s application to join the EU.

The Turkish lira rose 0.3 percent in relation to the US dollar to 1.370, and the ISE National-100, Istanbul’s main stock index, advanced 2.2 percent to 24,977.78.

Discuss this in the Finance Markets forums

Story link: Business in usual in Europe after no vote


Add to Bookmarks:

ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

 

 

Previous: « India to lift retail investment ban
Next: Pharmaceuticals companies to monitor online chatter »

Visited 356 times, 1 so far today