Cyrrus (Cyrrus)
Markets  |  October 08, 2012 17:35:34

Nervousness before a meeting of eurozone finance ministers

Today's trading in Europe followed the declines in Asia. Not even slightly better industrial production in Germany (-0.5% instead of the expected -0.6%) markets did not help. DAX moved around 16:00 -1.24% at 7,306 points. The only titles that were in the red: Deutsche Post and SAP. Otherwise, it is apparent nervousness in the markets and profit taking before the evening eurozone finance ministers summit, which begins at 17:00. It should be a banking and fiscal union, and it is expected that problems will mainly do attitude of Germany and Finland. Further, it will discuss the situation in Spain and Greece. It is possible that negotiations surprise, but markets do not expect much from him. Mainly due to the fact that tomorrow will be like meeting across the EU, where they can still manifest interests of Great Britain, which is against fiscal union. U.S. markets opened about 0.5% to minus.

As of today, officially ESM works with the target capacity of 500 billion euros. Waiting only to States, according to previous agreements, pouring money into the fund first and rating agencies publish ratings. Other than the highest rating would be a big negative surprise.

Angela Merkel tomorrow going to visit Greece in order to show that it no wobbles or not overboard. Expectation is that Samaras will demand concessions that can not reach. Greeks are planning anti-European demonstrations, but the question is whether they will be any good.

The Prague Stock Exchange was today trading volume reaching almost CZK 1 billion. The winner of the day happened Orco with an increase of 11%, the worst today Erste fell -2.07%. At AAA we after Friday's publication of the "Five-Year" have seen an increase of 4.34% to 22.38 CZK.

Morning markets will evaluate the report of the meeting of Ministers and will be waiting for news from a meeting of EU leaders. Suppose, then, that nervousness will continue at least until tomorrow.

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Nervozita před setkáním ministrů financí eurozóny

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