European Factors to Watch-Greek worries to put pressure on European shares

lunes 11 de mayo de 2015 01:32 GYT
 

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LONDON May 11 (Reuters) - European stocks were seen opening slightly lower on Monday, with lingering concerns over Greece's debt situation expected to offset the boost given to Asian equities from China's latest cut to interest rates.

Financial spreadbetters expected Britain's FTSE 100 to open down by 3-8 points, or 0.1 percent lower. Germany's DAX was expected to open down by 5-8 points, or 0.1 percent lower, while France's CAC 40 was also seen down by 20-31 points, or 0.6 percent lower.

Greece's government remains hopeful that a meeting of euro zone finance ministers on Monday will note progress in talks with lenders on a cash-for-reforms deal and pave the way for an easing of Greece's cash crunch, a government official said on Sunday.

The Eurogroup of euro zone finance ministers have ruled out clinching a deal to unlock aid for Greece at Monday's meeting, saying that too many issues remain unresolved. Officials have said any statement they make is unlikely to be enough to allow the European Central Bank to raise the limit on short-term Treasury bills that Greek banks can buy, a move that would help avert a Greek national bankruptcy.

"Greece remains a big concern to European investors, with both the countries leaders and its creditors stalling on a deal as neither wants to make the big concessions needed to push a deal through," said Oanda senior market analyst Craig Erlam.

An election defeat for German Chancellor Angela Merkel's conservatives on Sunday may also put pressure on the region's stock markets.

However, European commodity stocks may get support after China cut interest rates for the third time in six months on Sunday, and analysts predicted policymakers would relax reserve requirements and cut rates again in the coming months.

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