Since shares fell last week I expect that the markets open up high today as the week has started…
well shares fell on Friday as investors became cautious about their positions due to instability in the European Union about Spain, Portugal and Greeece. Jim Wood-Smith, head of research at Williams de Broe, said: “It is all about Greece, Spain and Portugal. The market is worried about whether the peripheral states in Europe are going to have a contagion effect on the whole of the euro zone.”
Another expert Jim Reid, a strategist at Deutsche Bank in London, echoed same concerns like Wood-Smith. He said: "The problems currently faced by peripheral Europe could be a dress rehearsal for what the US and UK may face further down the road. These countries have similar issues to those facing peripheral Europe but have the luxury of a flexible currency up their sleeves as a first defense if the market wants to attack them.”
The German DAX closed down 99 points at 5,434, with the French CAC 125 points lower at 3,564.
