Newspaper article The Journal (Newcastle, England)

Markets React to the Result of Greek Election; FTSE 100

Newspaper article The Journal (Newcastle, England)

Markets React to the Result of Greek Election; FTSE 100

Article excerpt

Byline: ADAM MARTELL Brewin Dolphin

ON Monday, London's FTSE 100 Index added 0.3% or 19.6 points to close at 6852.4 points, after the world's financial markets digested the result of Sunday's Greek parliamentary elections. The head of Syriza, Alexis Tsipras, was officially sworn in less than 24 hours after claiming victory. Syriza, of course, want to renegotiate the terms of Greece's bailout agreement, made at the height of the financial crisis.

In the UK, the parent company of British Airways, International Consolidated Airlines (IAG), were amongst the FTSE 100 index's risers after moving a step closer to completing a takeover of Irish competitor, Aer Lingus.

IAG was up 2.4% or 13p, to end the day at 549p. Industry analysts are suggesting a takeover is likely, but investors should be mindful that this will remain conditional on the approval of Ryanair and the Irish government, who each own 30% and 25% of Aer Lingus shares. Tesco, however, was back amongst the main fallers, as investors took profits following a small increase in the share price last week. …

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