Markets surrender early gains after Greek election result
The Footsie had jumped by nearly 1.4 per cent in early trading but had fallen into negative territory by mid morning.
Rebecca O’Keeffe, head of investment at Interactive Investor, said: “Already questions are being asked about how strong this rally really is and whether reality about the hard work that is to come will dampen spirits.”
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Hide AdThe result of the Greek poll, which had seen Asian markets rise over night, meant a Greek exit from the euro – a major threat to global financial stability – was no longer an imminent threat. The euro rallied against most major currencies.
But investors remain worried about the future of the single currency and how Europe’s leaders will tackle the on-going debt crisis.