SCOREBOARD: Greek yawn

European stocks rose despite the usual headlines about Greece, while the US saw some decent data.

Most of the headlines are concerned with Greece again, about some European nations wanting to kick them out of the eurozone and so on – will they or won’t they, etc. Increasingly this kind of news flow is being met with a yawn and looking at the price action that was certainly the case last night. European stocks for instance actually ended higher – the Dax and CaC up 0.4 per cent, although the FTSE was down 0.1 per cent – and that’s with growth data showing European GDP fell 0.3 per cent in the fourth quarter. Within that, German GDP wasn’t quite as bad as feared (-0.2 per cent) after a 0.5 per cent gain in Q3. French GDP actually rose 0.2 per cent.


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