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Monday, January 26, 2015

Greek Stocks Are Getting Slammed After Syriza's Triumph But The Euro Has Clawed Back Losses

Greek stocks are getting slammed after the resounding victory of Syriza, the left-wing anti austerity party, in elections on Sunday. About five minutes after the market open, Greece's main stock index fell 5.5%.  That's wiped out almost all the gains made on Friday, when Athens stocks rallied 6.1%. Here's how it looked early Monday: Here's the scorecard for the other big indexes, which seem to have pretty much shrugged off the results: France's CAC 40: -0.04% Germany's DAX:  +0.32% UK's FTSE 100: -0.10% Spain's IBEX: +0.10% Italy's FTSE MIB: -0.32% Asian markets were mixed. Japan's Nikkei closed down 0.25%, Hong Kong's Hang Seng closed up 0.24% and the Shanghai Composite Index closed up 0.96%.  US futures are down a little. The S&P is 5.75 points lower, and The Dow is down 62 points. The euro slumped straight after the election result was announced, dropping to fresh 11-year lows against the dollar in Asian trading. But it's now made back up practically all of the lost ground, rising 0.75% Monday morning to about $1.23.Join the conversation about this story »


READ THE ORIGINAL POST AT www.businessinsider.com