All the latest economic and financial news, from metal prices hitting new lows to the latest Cyber Monday action * Iron ore price slides 8.58am GMT THE HEAD OF ONE OF GREECE’S FOUR CREDITORS HAS DECLARED THAT HE’S OPTIMISTIC THAT ATHENS WILL GET ITS MUCH-ANTICIPATED DEBT RESTRUCTURING. Klaus Regling, managing director of the European Stability Mechanism (which handles bailout loans) told a Finnish newspaper that Greece should get assistance with debt repayments. #ESM MD #Regling itv transcript with Finnish daily “Kauppalehti” @KauppalehtiFi @JarnoHa https://t.co/j1zCCN2MZd pic.twitter.com/84iPVfvjsf #ESM #Regling: the Eurogroup has said it is willing to look at further debt relief measures after a positive conclusion of the first review #ESM #Regling on #Greece debt relief talks: I’m fairly optimistic we will come to an agreement #ESM #Regling: The #Greece govt now understands a nominal haircut is not feasible and I think it’s not necessary #ESM #Regling on debt relief: It’s about ensuring #Greece can service its debt in med term to send signal to potential investors & markets #ESM #Regling: Institutions will assess debt sustainability again in beginning of 2016 taking in account current econ environment #ESM #Regling: debt relief could be granted in tranches in order to have conditionality in place for longer than the ESM program until 2018 #ESM Regling on IMF joining Greece program: I’m optimistic we will come to agreement, because European partners & IMF want to help Greece 8.38am GMT EUROPEAN STOCK MARKETS HAVE STARTED THE WEEK ON THE BACK FOOT, AS THE SELLOFF IN COMMODITY PRICES FEEDS THROUGH TO EQUITIES. Here’s the damage: The FTSE fell afoul of its usual bugbear this morning, its calamitous commodity sector. Not that the oil and mining stocks are as bad as normal, but rather that with little else on offer, and iron ore falling to a 5 month low, the UK index couldn’t manage to mitigate its 45 point drop as the day got underway. Continue reading...
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