European shares hit one-week closing low

By REUTERS
January 25, 2012 19:04

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

LONDON - European shares fell to a one-week closing low on Wednesday on worries about the outcome of debt talks in Greece, while weak earnings news was also a major drag after Ericsson's results came in below expectations.

Ericsson dropped 14.1 percent in heavy volume, topping the fallers list, after the results and were also another sign the euro zone debt crisis was taking its toll on companies.

"The market wants to see exactly how the situation in Greece will pan out," said Mike Lenhoff, chief strategist at Brewin Dolphin Securities. "If this is a stalemate that cannot be broken it could lead to upheaval in the markets."

"Earnings have not been good, estimates are being revised downwards and are a reflection of what is going on in Europe. We are defensive as the outlook is cloudy."

The pan-European FTSEurofirst 300 index of top shares provisionally closed down 0.6 percent at 1,039.01 points.

Related Content

Breaking news
August 17, 2018
U.S. says no rebuilding funds for Syria until peace talks underway

By REUTERS