SCOREBOARD: European night sweats

European markets dropped across the board as rumours circulated of a run on Spain's Bankia.

There was no improvement in investor sentiment last night and equities took another pounding. In Europe, most of the major indices were down over 1 per cent (DAX, CaC and FTSE all down 1.2 per cent) and it was pretty much the same story in the US as well. Greek stocks fell another 3.4 per cent and are down 16 per cent over the last week alone. There was no new catalyst, just the ongoing fear following the Greek election.

It’s interesting to note though that the VIX index is still well down on levels seen during other flare ups. This, amidst the carnage, is a key positive. Consider that for most of the second half of 2011 the index was up around the 40 mark and while we’ve seen the fear index shoot up, at 24 now from 15 to 18 previously, it is still well beneath those levels.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles