European Stocks to Open Lower; Euro Worries Linger
European markets were indicated to open lower Monday on renewed concerns over the euro zone debt crisis.
The DAX is predicted by spread betters in London to open over 60 points lower as the euro trades around 1.41 against the dollar.
Euro zone finance ministers meet in Brussels later Monday to discuss an aid package for Portugal and what to do about Greece.
In an interview with a TV station on Sunday night, German Finance Minister Wolfgang Schaeuble said Greece could be granted an extension to the repayment of its debts but only if private investors where involved.
Hanging over the talks is news of the arrest on charges of sex crimes of the IMF boss Dominique Strauss Khan.He was expected in Europe for talks with Angela Merkel Sunday but was arrested while attempting to leave the US on an Air France plane from New York.
Strauss-Khan remains in police custody; his lawyers say he will plead not guilty ahead of his arraignment at 10 am New York time (15:00 London time) With John Lipsky now in charge at the IMF Die Welt in Germany reported that the International Monetary Fund has considerable doubts whether heavily indebted Greece should be provided with further credit.
Investors will watch the shares of oil giant BP at the open after the Wall Street Journal reported that BP CEO Bob Dudley could unveil a $30 billion deal to buy out TNK of its Russian joint venture.
The deal would allow the UK oil major to complete a separate deal with Rosneft to develop some of the richest oil reserves in Russia.