All the latest economic and financial news, as the Greek presidential election spooks investors 8.14am GMT Bad news from France this morning -- industrial production shrank by 0.8% in October, dashing hopes of a 0.2% rise.That means France’s industrial sector is 1% smaller than a year ago, after 12 months of weak economic growth.ouch. RT @lemasabachthani: *FRENCH OCT. INDUSTRIAL PRODUCTION FELL 0.8% VS MONTH AGO — est -0.2% 8.10am GMT One of Greece’s ex-prime ministers has welcomed the decision to bring forward the presidential elections to next week (from February).Costas Simitis, who was PM from 1996 to 2004 -- taking Greece into the euro -- said the current leader Antonis Samaras has made a wise move.“Now Greece has the possibility to elect the president, to have elections, to have a new government and a new government will discuss with the European Union about the future of the Greek economy and Greek debt, ““If this was not done, there would be a situation of nobody knowing what will happen and of crisis -- and crisis is not a good thing.”. 8.01am GMT The Greek drama also makes the front page of the Financial Times today, who report:Greece’s political woes re-erupted as a threat to global financial stability yesterday, triggering the biggest drop on the Athens stock exchange since the 1980s and sending reverberations through world markets.FT: Snap election in Greece reignites fears for eurozone #tomorrowspaperstoday #bbcpapers pic.twitter.com/dkdy5VMv4d 7.56am GMT Yesterday the Athens stock market suffered its biggest one-day fall in over 20 years; Syriza politicians apparently reckon its a conspiracy to hit their support:#Greece - Mixed views on how market will react today following yday's massacre. Syriza MPs describe crash as 'terrorist act against Syriza'. 7.52am GMT Good morning, and welcome to our rolling coverage of the financial markets, the world economy, the eurozone and business.This is usually a quiet time in the financial calendar, as investors look to hold onto this year’s profits (or forget about this year’s losses). But that’s all out of the window, thanks to the political instability gripping Greece.There is nervousness out there as #volatility surges across the board. Nikkei vol up 14%, VIX at 1mth high. pic.twitter.com/hfLVRGSjg7 Continue reading...
 |
| READ THE ORIGINAL POST AT www.theguardian.com |
