Greece's newly elected government will look to "end the vicious cycle" of bailout and borrowing in the country.» Read More
*Bank stocks plummet, pulling down Athens index. LONDON, Jan 27- Greek borrowing costs jumped and a dive in bank stocks dragged down the Athens bourse on Tuesday, after weekend elections resulted in an anti-bailout government that looks set on a collision course with the country's creditors. This was up four percentage points since Sunday's vote although down...
ATHENS, Jan 27- Greek Prime Minister Alexis Tsipras unveiled a cabinet of anti-austerity veterans on Tuesday, signaling he has no intention of backing away from election pledges despite warning shots from the euro zone and financial markets. Promising to reverse budget cuts and renegotiate Greece's huge debts, Tsipras's leftist Syriza party stormed to...
Art Cashin, UBS director of floor operations, told CNBC on Tuesday that stocks were falling sharply in early trading because of an "ugly buffet" of news.
*Caterpillar shares slide as low oil prices hurt profit. *Microsoft shares tumble a day after results. NEW YORK, Jan 27- U.S. stock index futures fell on Tuesday, weighed by company earnings results including those of sector bellwethers Microsoft and Caterpillar.
Greece's malaise also weighed on other low-rated bonds, although the blow was cushioned by the prospect of the European Central Bank's new bond-buying scheme due to begin in March. "There is a general anxiety about the situation in Greece and how it is all going to play out," said Jakob Christensen, senior economist at distressed debt brokerage Exotix.
CNBC's Michelle Caruso-Cabrera reports on the fallout from the Greek elections and proposed legislation from the newly-elected leader.
*Varoufakis says will not "put up or shut up". ATHENS, Jan 27- Economics professor Yanis Varoufakis confirmed he would become Greece's next finance minister on Tuesday, promising to defy advice to "put up or shut up" and find solutions that favor all Europeans rather than just Greeks. After two years of waiting in the wings, Prime Minister Alexis Tsipras and his Syriza...
ATHENS, Greece— Greece's new left-wing prime minister, Alexis Tsipras, picked an outspoken bailout critic as his new finance minister Tuesday, signaling his resolve to take a tough line with eurozone lenders in an effort to write off a massive chunk of rescue debt. Economist Yanis Varoufakis, 53— who has described the bailout as "fiscal waterboarding"— took up the...
LONDON, Jan 27- The euro rose and shares slipped in Europe on Tuesday as mixed corporate earnings and concerns over Greece kept investors cautious ahead of a busy week which will include the first policy meeting of the U.S. Although core bond yields held near those lows, lower-rated yields edged higher after Europe signalled it would not yield to a new Greek...
Philippe Legrain, former economic advisor to the President of the European Commission, says Greece's debt is unsustainable and the country needs a haircut.
Marie Owens Thomsen, Chief Economist at Credit Agricole Private Banking and Eswar Prasad, Senior Professor of Trade Policy at Cornell University, discuss the outlook for Greece.
Callum Henderson, Global Head of FX Research at Standard Chartered, says the euro is consolidating and adopting a "wait and see attitude" after last week's steep declines.
MELBOURNE, Jan 27- London copper slipped on Tuesday as its poor fundamentals came back into focus as a relief rally sparked by a calmer reaction to the Greek election results than anticipated sputtered out. *Three-month copper on the London Metal Exchange slipped by 0.4 percent to $5,558 a tonne by 0140 GMT, paring 1.3 percent gains from the previous session when...
Boris Schlossberg, Managing Director at BK Asset Management, says the euro recovered from Monday's session lows as markets expect constructive dialogue to take place between Greece and the euro zone.
Geoff Lewis, Global Market Strategist at J.P. Morgan Asset Management, explains why the possibility of a "Grexit" isn't high and discusses the outlook for European markets.
After the election, all eyes are now on the policies that anti-austerity party leader Alexis Tsipras and his new government will undertake for Greece. CNBC's Michelle Caruso-Cabrera reports.
Is the market sick or healthy? Jim Cramer has 8 signs that show a strong market.
Despite bold election talks, Greek leftist party Syriza has limited options and will opt to stay within the euro zone, says Michael Kelly, Managing Director, Global Head of Asset Allocation at Pinebridge Investments.
NEW YORK, Jan 26- The euro rebounded on Monday as investors took advantage of steep losses sustained during two days of dramatic selling, with the final push down to a fresh 11- year low coming after elections in Greece put an anti-austerity government in power. Greece elected, as expected, left-wing leader Alexis Tsipras of the anti-bailout Syriza party.
The most unpopular man in Greece appears to have won enough votes to become a new member of the Greek parliament.