Nikkei 225 Reaches 1-Week Low
Japanese stocks fell at one-week low today as the investors await the announcement of the Federal Reserve after the completion of its two-day meeting.
The investment climate continued to be affected though by the ongoing concerns about the stalemate in negotiations between Greece and institutions.
Nikkei fell by 0.2% to 20,219.27 points while earlier it reached 20,137.33 points - the lowest level since June 10.
The broader index TOPIX dropped by 0.4% and closed to 1,633.70 points while the JPX-Nikkei 400 Index 400 fell by 0.4% to 14,740.56 points.
European Indices Rose
The European indices advanced today, as the processes continue in the Greek issue, while positive signs are expected from the meeting of the Federal Reserve.
The British FTSE 100 index was up by 0.31% to 6,731 points, the German DAX recorded an increase of 0.50% at 11,099 points and the French CAC 40 moved up by 0.23% to 4,851 points.
STOXX 600 index recorded profits of 0.24% at 386.41 points.
On the board, Telecom Italia (MILAN:TLIT) increased by 3.4%, as it has leaked that Vivendi (PARIS:VIV) is considering to increase its stake in the Italian company to 15%.
Also, Remy Cointreau (PARIS:RCOP) recorded profits of 8.8%, after the better than expected data on the operating profit of the 12-month period that it was announced. Also its net income rose by 49% to €94.6 million.
Probability Of A Greek Default Has Risen To Around 50%
The possibility for Greece to default on loans from the International Monetary Fund and the European Central Bank has increased to around 50%, according to economists of BNP Paribas (PARIS:BNPP), after the collapse of talks between the two sides, as the Dow Jones Newswires transmits.
In the latter scenario analysis, BNP Paribas gives a 25% chance for an agreement to be reached by 30 June and 25% for an extension of the existing program.
A default will not automatically lead to Greece's exit from the Eurozone, economists add. But will probably lead the European Central Bank to stop funding Greek banks through the ELA, something that will lead at some point to the imposition of capital controls in the country.