On mute

18 March 2013 By Robert Cole

Investors did not seem much moved by the news of a Cypriot bank raid. Don’t mistake that calm for equanimity. European equities trade at a hefty discount to U.S. and Japanese peers – precisely because of the sort of risk that this crisis chapter makes manifest.

This content is for Subscribers only

Context News

The Stoxx 600 index of leading European shares fell 0.7 percent in early trades on March 18. By the same time, 1115 GMT, the FTSE 100 index of London-listed shares fell 0.8 percent. The reaction in Asia was more marked. Japan’s Nikkei 225 index fell 2.7 percent.
As of 1145 GMT, the euro was down 0.1 percent against the U.S. dollar, to $1.2955. The yield on German 10-year government bonds was down by 0.06 percentage points, while the yield on Italian, Spanish and Irish government 10-year debt increased by 0.08, 0.1 and 0.5 percentage points respectively.

Email a friend

Please complete the form below.

Required fields *