Newspaper article The Journal (Newcastle, England)

Greece's Bad News Provokes Poor Start

Newspaper article The Journal (Newcastle, England)

Greece's Bad News Provokes Poor Start

Article excerpt

Byline: Brewin Dolphin

IN a quiet day for corporate news, investors focused on Sunday''s acknowledgement from Greece that it has failed to meet its deficit target.

The FTSE 100 Index plunged into negative territory from the off.

Greece has experienced a more acute economic slowdown than was expected and this has contributed to its failure to meet its target. The beleaguered country''s deficit stands at 8.5% of GDP against a target figure of 7.8%. The disappointing news was announced at the same time as Greece''s cabinet approved a plan to cut thousands of public sector jobs.

The FTSE 100 Index recovered some lost ground to close the session down 53 points at 5076.

Gold miner, Randgold Resources, benefited from the rising gold price, heading up the FTSE 100 Index Leader''s board. Gold prices rose by more than 2% on Monday. The shares rose 3.7% to finish at 6520p.

Diversified mining company Vedanta had very different fortunes. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.