UK awaits Irish bailout news, key growth estimate
Sunday, 21 November 2010
LONDON, Nov 20 (AFP): London investors will return next week awaiting fresh developments on the Irish debt crisis and the latest estimate of British economic growth.
London's FTSE 100 index of top shares fell 1.1 per cent over the past five days to close at 5,732.83 points Friday.
Most European stock markets were hit this week as indebted Ireland appeared set for a bailout package -- the second such eurozone rescue so far this year after Greece was bailed out in May.
International financial experts and Irish officials began tough negotiations Friday on a possible bailout for the former Celtic Tiger nation.
The mission from the European Union, the European Central Bank and the International Monetary Fund will subject Ireland's books to forensic analysis and could report back on Monday, according to market watchers.
"Although the IMF spokesman highlighted (Thursday) that there would be no agreement before next week, we expect quick results of the talks, maybe as early as by Monday morning," Citigroup analysts said in a note to clients.
London's FTSE 100 index of top shares fell 1.1 per cent over the past five days to close at 5,732.83 points Friday.
Most European stock markets were hit this week as indebted Ireland appeared set for a bailout package -- the second such eurozone rescue so far this year after Greece was bailed out in May.
International financial experts and Irish officials began tough negotiations Friday on a possible bailout for the former Celtic Tiger nation.
The mission from the European Union, the European Central Bank and the International Monetary Fund will subject Ireland's books to forensic analysis and could report back on Monday, according to market watchers.
"Although the IMF spokesman highlighted (Thursday) that there would be no agreement before next week, we expect quick results of the talks, maybe as early as by Monday morning," Citigroup analysts said in a note to clients.