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European Market Down on Growth Woes

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  • Description

    FBN's Ashley Webster breaks down European market news.

  • Duration 2:49
  • Date

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European shares having their worst day in seven sessions actually Webster joins us now with more on what's.

I think overseas markets -- -- is that is Sam -- little bit of everything today very thin volume is as a lazy and European -- 'cause everybody's on vacation how nice -- that they think Hugh Laurie what we have seen a choppy session -- Kick off the week and as we say volumes have been -- resource stocks really moving low on the back of Asian weakness today.

Also seen some strength though in the banks especially in -- would get to that in mind let's look at the numbers nothing to die here.

-- off a quarter of percent same story on the tack on some Paris in the backs in Frankfurt.

Down half a percent now back to the Italian stocks which moved -- After the country's treasury managed to meet its target and sell nearly ten billion dollars in government debt.

Although the yield by the way on the one year -- slightly higher at two point 76%.

Now we heard some more tough talking from European leaders over the weekend so what's new Finland's prime minister Tanaka told -- -- -- -- magazine.

That his government rejects totally proposals to give the ESM that's the bailout fund.

A bank license meanwhile.

Germany's economy minister says Germany will block any new aid to Greece.

Unless Greece follows previous agreements to the left and as we know -- Greece hasn't exactly done that's all right so Greece we've got the latest GDP figure released today what is it to outlast any improvement.

I am optimistic that but not until we already know that the situation -- -- in Greece is diets economy shrinking.

Six point 2% in the second order negative some negative six point 2% but that's actually better than the negative six and a half percent in the first quarter anomalies yet but believe -- -- -- -- -- -- -- -- -- -- -- -- minus 7% -- -- of -- -- -- -- -- -- Cut by those austerity measures being imposed by creditors to reduce the country's.

Budget deficit Greece already behind the fiscal targets set by lenders.

Blood demanding full implementation before official funding -- -- we -- it all before but no doubt.

Patience is definitely wounds that I suppose is a camp -- even surprised he's still here at this well that's true many said they would -- -- -- hanging on by by and a threat as they say for hanging not to find out what's coming up at 2 eastern.

Because to us could start coming up we have out -- -- of optimists publishing he's gonna tell us during the Olympics which Olympic sponsors won a gold medal.

-- -- as he says -- -- by the way he says Apple's campaign during Olympics was quote just plain stupid.

And he gave them not even a bronze medal -- -- find out why not 2 PM show -- what he thought of The Spice Girls reunion.

I thought but it was as a single math math math kind of cheesy.

Alex hit me back anti -- to I didn't know that riding around on those lending caps and plus you see them hanging or for the regulatory battle I think that they didn't let up on -- --

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