Australian stocks opened 1.8 percent lower Monday after Greece missed a deficit target set by European leaders as part of its bailout deal, deepening fears of a default that would panic world markets.
A couple look at share price monitors at the Australian Stock Exchange (ASX) in Sydney in September 2011. Australian stocks opened 1.8 percent lower Monday after Greece missed a deficit target set by European leaders as part of its bailout deal, deepening fears of a default that would panic world markets.
At 10.10am (2310 GMT) the benchmark S&P/ASX 200 was 70.5 points or 1.76 percent lower at 3,938.1 points after Athens said its deficit should drop to 8.5 percent of GDP in 2011 -- short of the 7.4 percent set by the IMF and EU.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
About the author
- Writer: AFP News agency
- Position: Agence France-Presse
