Greece's Syriza party gained the key backing needed to form a government Monday, creating a surprise alliance with a small right-wing party that signals possible confrontation over the country's bailout. Although the alliance between two ideologically opposed parties who share only their opposition to the bailout was a surprise, it nevertheless boosted stock markets across Europe that had fallen on news of the uncertain election results and fear of a second election.
U.S. stock indexes are drifting between small gains and losses at midday, as investors weigh the latest batch of corporate earnings and mergers, and the implications of an election victory in Greece by a party opposed to that country's bailout plan. The Dow Jones industrial eased six points to 17,666 as of 12:05 p.m. Eastern time Monday.
Financial markets drifted between small gains and losses in morning trading Monday, as investors weighed the implications of an election victory in Greece by a party opposed to that country's bailout plan. Traders also had their eye on the latest batch of earnings and corporate mergers.
London-based peer-to-peer money transfer service TransferWise has raised $58 million in a new round of funding that values the company close to $1 billion. The Series C funding round is led by US venture capital firm Andreessen Horowitz.
Britain's FTSE 100 index is seen opening around 67 points lower, or down 1 percent, on Monday, according to financial bookmakers. For more on the factors affecting European stocks, please click on * Greek leftist leader Alexis Tsipras promised on Sunday that five years of austerity, "humiliation and suffering" imposed by international creditors were over after his Syriza party swept to victory in a snap election on Sunday.
A woman waves a Greek flag during a speech by the leader of Syriza left-wing party Alexis Tsipras outside Athens University Headquarters, Sunday, Jan. 25, 2015. A triumphant Alexis Tsipras told Greeks that his radical left Syriza party's win in Sunday's early general election meant an end to austerity and humiliation and that the country's regular and often fraught debt inspections were a thing of the past.
The euro skidded to near an 11-year low and U.S. stock futures fell on Monday as Greece's Syriza party promised to roll back austerity measures after sweeping to victory in a snap election, putting Athens on a collision course with international lenders. The euro fell to as low as $1.1135 on the vote outcome, not far off an 11-year low of $1.1115 touched on Friday when the common currency took a battering after the European Central Bank unveiled a bond-buying stimulus programme last week.
US stocks managed to claw back most of the losses from the beginning of 2015 buoyed by a larger-than-expected stimulus from the European Central Bank, generally higher corporate earnings and a burst of buying in big tech firms. The Dow Jones Industrial Average put on 0.9 per cent to end the week at 17,672.60, and the broader S&P 500 rose 1.6 per cent to 2051.82.
Buckle up for a big week in the stock market. Investors get to check Corporate America's pulse as over 140 S&P 500 companies report earnings this week and the Federal Reserve meets for the first time in 2015.