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European Shares Retreat Ahead Of 2nd Greek Vote

Published 07/23/2015, 05:00 AM
Updated 07/09/2023, 06:31 AM

European shares retreated for a second straight session on Wednesday ahead of a critical second Greek vote on reform measures demanded by creditors.

The Greek Parliament must pass the second package of measures to pave the way for talks on the 86 billion-euro third bailout.

The Parliamentary vote last week saw a rejection from some of Syriza party to the measures, putting Prime Minister Alexis Tsipras under pressure before tonight’s vote.

Stoxx Europe 600 index plunged 0.4% to 401.09 points, after falling 0.7 percent at the beginning of the session. Germany’s DAX dropped 0.46 percent and France’s CAC-40 slumped 0.30 percent.

The fall was buoyed by the retreat in shares of commodities and mining companies, with the plunge in gold and oil prices as well as raw materials.

Britain’s FTSE was down 1.03 percent to 6699.25 as BOE minutes signaled the tendency of some MPC members to raise interest rates earlier than envisaged.

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